Here’s How Your Favourite World Cup Team Can Help You Manage Your Money

By | July 14, 2018

Did you know you could learn a lot about managing money by the way your favourite World Cup football team plays? Read on to know more!

Here’s How Your Favourite World Cup Team Can Help You Manage Your Money

If you’re a football aficionado, you’ve probably been spending the last month glued to your TV screen taking in all the incredible ups and downs this World Cup has to offer. If there’s one thing for sure, the 2018 edition of this tournament is destined to go down in history as one of the most exciting and most unpredictable World Cups in recent memory.

While watching your favourite teams go toe to toe can be a truly exhilarating experience, there’s much more to it than meets the eye. Did you know the teams you support and the way they play could teach you a lot about managing your Credit Card expenses or investing in a Fixed Deposit for example?

Additional Reading: Ronaldo VS Messi – The Ultimate Financial Showdown

We know what you’re thinking! What does Messi dribbling past umpteen defenders have to do with your money? Well, a lot actually! We’re going to break it down for you right here:

  • Argentina and Portugal

Everyone and their grandmothers know that whenever Argentina and Portugal go into a major tournament, the hopes of both nations rest squarely on the shoulders of Lionel Messi and Cristiano Ronaldo respectively. While the pair may be two of the greatest players the game has ever seen, it also puts exceptional strain on them since the rest of their teammates can’t quite match up to their standards.

In effect, both squads one-man teams. Now, when it comes to your money, do you do something similar and put all your eggs in one basket? Remember, placing all your wealth in one single investment and hoping for the best is a recipe for disaster. That’s exactly why Argentina and Portugal were dumped out of the World Cup so unceremoniously.

While Messi and Ronaldo did as much as they could for a while, ultimately it proved a task too great as they both exited the tournament at an early stage. Similarly, hoping one particular investment will reap rich dividends spells trouble.

The key here is to diversify your investment portfolio. Invest in a range of funds such as Equity Mutual Funds and Debt Mutual funds, depending on your risk appetite. This will help you beat market volatility and give you the best chance of earning better returns over a period of time.

Additional Reading: Tips For Ideal Portfolio Diversification

  • Spain

Who can forget how Spain famously huffed and puffed but ultimately failed to blow Russia down during their second-round encounter? While Spain certainly plays some of the most attractive football around, their insistence on sticking with Plan A and Plan A only led to their downfall against a dogged Russian side that refused to lie down. In fact, the signs were apparent in the group stage that their famous tiki-taka style of play wasn’t going to work anymore and they were eventually going to come undone.

There’s a lesson to be learnt here. You could have an investment strategy or a bunch of investments that have been working well for you over a fair amount of time, but you what if you find that their performance has dropped consistently and considerably over the last few years?

Do you stick with your investments and hope that they’ll change course or do you drop them in favour of better prospects? If you find that a fund you’ve invested in has seen a constant drop in performance, then maybe it’s time to move your money into something more profitable. Similarly, if you think the returns you’re getting from your Fixed Deposits, for example, aren’t enough, try moving your funds into Equity Mutual Funds for better prospects.

Additional Reading: Best Equity Mutual Funds To Buy In 2018

  • Japan

Although Japan went down fighting at the hands of Belgium in round 2, they won the hearts of football fans the world over, with their fans cleaning up the stadiums after the games and the Japanese team tidying up the dressing room even after a demoralising defeat.

However, on the pitch, Japan impressed all and sundry with their tactical discipline, teamwork and strict adherence to a well-thought out plan. Ultimately, it almost worked for them if not for a freak goal and a moment of naivety.

There are a few financial lessons we can take away from their performances. The first one is to chalk out your financial goals and come up with a solid plan on how to achieve them. Once that’s done, make sure you stick to it, especially when it comes to saving, budgeting and expenses. Within a short span of time, you will find yourself well on track towards meeting your financial targets.

The second lesson is to make sure you build an emergency fund to tide you over during tough times. When Belgium scored an extremely fortunate goal against Japan, many expected Japan to ride out the storm since they still had the contingency of an extra goal. And they did, at least for a while.

But that’s where the third lesson comes in. With Belgium scoring again and levelling the match at 2-2, Japan paid the price for naively attacking Belgium during a corner in the final minute without any back up in case of a counter attack. Unfortunately for them, Belgium broke at speed from the resulting clearance and scored the winner with seconds remaining.

This just goes to show that even the best-laid plans can come undone by poor financial decisions. When it comes to your money, it is always advisable to err on the side of caution and think things through before taking a financial leap that may be beyond you. Fortune may favour the brave, but when it comes to managing money, fortune usually favours the ones with smarts.

Additional Reading: 6 Common Budgeting Blunders And How To Fix Them

  • Croatia

While Croatia were christened the dark horses of the tournament, few could have predicted their incredible run all the way to the final. With their attractive style of play, never-say-die attitude and superhuman levels of fitness, the Croatians lit up this World Cup like few teams have.

Their World Cup run has been characterised by one attribute. Perseverance. Regardless of how many times they seemed to be down for the count, they came back fighting with more vigour than many of us mere mortals can possibly muster. Their determination and will to succeed have brought them rewards aplenty, which is exactly the example we should follow when it comes to managing our finances.

There may be times when we are saddled with crippling debt or face a financial situation that has the potential to practically leave us penniless. It is during those times we need to display Luka Modric-like levels of patience, focus and calm.

Whether it’s huge Credit Card dues or unmanageable loan payments, there’s always a way out as long as you calmly weigh out your options and find the best solution to get out of your rut. Cut down on unnecessary expenses, keep your Credit Card under wraps, sell some of your assets or maybe even turn to your family for financial help. There are a number of things you can do to get back on your feet financially.

So, whenever things seem a little overwhelming, take solace from Croatia’s performance this World Cup and power through.

Additional Reading: 5 Tips On How To Get Out Of A Debt Trap

The next time you’re watching your favourite football team, take a closer look at what works for them and what doesn’t and apply the same to the way you manage your money. Some people say a football game is a microcosm of how life works, with its constant ups and downs, spills and thrills. So, pay attention. You may learn a thing or two the next time round!

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Category: Money Management UCN

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