Why do you practice golf? Is it to add more distance to your swing? Is it to stay fit? Regardless of why you choose to personally play golf, what you may not realize is that the more you improve upon your golf game, the more likely you are to develop the mindset to be financially stable throughout your life. But, how do these two things correlate? The characteristics and skills that are vital to your game, are also vital to you being successful from a financial standpoint. Here are a few ways in which practicing golf can help your bank account and future financial plans:
- You have a game plan. Going into every round of golf, you have a game plan. You know what your strengths are, and you know how to act upon them. In life, financially, you also have a game plan. You know how much your income is, what your goals are, and what you need to get yourself there. It is important that with both game plans you set realistic standards for yourself, and, slowly but surely, you will make your way to where you want to be.
- You want a good score. At the end of your golf game, you want a good score – you want to win! The same goes for everyone financially. For financial success, you must have a good credit score. You must pay your bills on time and do the necessary things to ensure that your score stays in a great spot. Throughout each round you play on the course, you must have this same mindset – every move counts towards your success.
- You are patient and resilient. On the course, some games move slower than others, and sometimes, your skills develop slower than you would like them to. It is important to be patient and trust the process. And, sometimes, things just do not go your way, which is when your resilience must kick in so you can get back up on your feet and push harder the next time around. Financially, patience is key. You are not going to save your child’s entire college tuition in just one year – it takes time! And, sometimes the stocks you invest in may plummet due to some negative news about the company. Have the skill to be able to work and think on your feet, and in negative situations, turn it around!