A Football Fan’s Guide to Financial Planning
It’s that time of year - my favorite time of year…FOOTBALL SEASON. The air is crisp, the stadiums are roaring, and every weekend’s agenda is built around football (or so I would hope - don’t get me started on fall weddings).
As a football fan, you know that a team doesn’t just stumble into a win. Victory is born from a well-designed game plan—hours of scouting, practice, and strategy that happen long before the players ever hit the field.
Your financial life works the same way. A quarterback wouldn’t just wing it in the Super Bowl, so why would you wing it with your money? It's time to stop watching from the sidelines and start drawing up your own financial game plan. Let's break down how you can build a championship-winning financial future, using terms any football fan can relate to.
Pre-Season Prep: Drafting Your Financial Playbook
Before the season starts, every team establishes its goals and strategies. You need to do the same.
Your Goal (The Super Bowl Trophy): First, what are you playing for? A team’s goal is to hoist that championship trophy. Your financial goals are your trophies. Is it buying your first “fun” car? Saving up for a grandkid’s college fund? Define exactly what your “championship win” looks like so you have something to fight for.
Your Budget (The Offensive Playbook): A coach doesn't call plays without knowing the strengths of his players. Your budget is your offensive playbook—it tells you exactly what your financial "players" (your income and expenses) are doing. Track your money for a month to see where it’s all going. Once you know that, you can start calling the right plays, telling your money where to go instead of wondering where it went.
Game Day: Playing Smart Offense and Defense
With your playbook ready, it's time to execute on the field. Your financial life is a game of both offense and defense.
Offense - Investing: A team that only runs the ball for two yards at a time will struggle to score. Investing is how you grow your money over time and put big points on the board. Starting with small, consistent investments in things like stocks or mutual funds through a brokerage or a retirement account is how you stretch the field and build real, long-term wealth.
Defense - Managing Debt: What’s the fastest way to kill a drive? A sack. In finance, high-interest debt (like from credit cards) is a blitzing linebacker trying to tackle you for a huge loss. Every dollar you pay in interest is a yard you’re losing. Create a game plan to pay off that debt aggressively so you can keep moving forward.
Your O-Line - Insurance and Emergency Fund: The most important player on the field is your quarterback (you!). And what protects the QB? A strong offensive line and a reliable special teams unit.
Insurance (Your Offensive Line): Insurance (health, car, renters) is your O-line, protecting you from those brutal, blindsiding hits that can derail your entire season—like a sudden medical bill or a car accident. Without it, one bad hit could take you out of the game for good.
Emergency Fund (Your Special Teams): Your special teams unit comes in at critical moments to save the day. An emergency fund of 3-6 months' worth of living expenses does the same thing. When your car unexpectedly breaks down or you lose your job, your emergency fund sprints onto the field and prevents a total disaster.
Halftime Adjustments and Coaching
Even the best teams have to adapt. The game of life is always changing, so your plan has to change with it.
Review Your Plan (Halftime Adjustments): At least once a year, review your financial playbook. Did you get a raise? Have your goals changed? Just like a coach making adjustments in the locker room at halftime, you need to tweak your plan to make sure it’s still working for you.
Avoid Penalties (Tax Strategy): A stupid penalty can wipe out a huge gain. Paying more in taxes than you need to is a 15-yard penalty against your savings. As you start earning more, look for legal ways to reduce your tax bill, like contributing to retirement accounts.
Get a Coach (Financial Advisor): Tom Brady had Bill Belichick. Patrick Mahomes has Andy Reid. Even the greatest players in the world have a coach to guide them, see their blind spots, and offer expert advice. Working with a financial advisor is like having a big-time coach on your sideline, helping you navigate the complexities of the game and helping you tweak your gameplan along the way.
Getting the “W” on the field requires a great game plan, and so does winning with money. By setting clear goals and following your playbook, you can achieve financial security and build the future you want. It’s your game to win—now go out there and execute.
If you're ready to draft your game plan or want a second set of eyes on your current strategy, feel free to email us at Brian@ChisholmWM.com.
