Running as metaphor for one’s financial well-being
Running is easy to do, but going an extra mile would require a lot of trials along the way
RUNNING has become a popular sport among the young and old alike. This sport had seen tremendous interest for the past few years, with droves of people participating in such number of running events in the country and worldwide. The running craze hit the Philippine shores, with many becoming aware of its health benefits. And also, many have become conscious of being healthy and living better. Nowadays, almost every weekend there is “fun run” happening in Metro Manila or elsewhere in the country. Such events are organized by social groups, with corporate entities looking to market their latest products and services for commercial purposes or to worthy causes that is socially and environmentally relevant and can create impact to the society.
In any case, what do running and financial planning have in common?
I like the analogy of running and personal finance. It has simple rules to follow. Running is easy to do, but going an extra mile would require a lot of trials along the way. A person intending to engage in this sport must be physically and mentally trained. Sharing my sentiments on this sport, I have been running for some time now and participated in short-distance running in the past, mostly 5-kilometer run. We know for a fact they are both different in a sense but there are lot of lessons I learned from these two different disciplines.
The preparation is the hard thing to do and it requires continuous improvement process
This sport requires self-discipline, training, and a lot of patience, perseverance, hard work and sacrifice before joining in. A runner should plan to be trained a few months before an intended race day. For new 5-km runners (3.1 miles), it would requires at least eight weeks or more to prepare their first adventure. Same as with people who want to engage in personal finance, they should have very clear, realistic goals, objectives and approach, with positive mind-set on how to manage on the financial resources. They should have the time frame for saving and investing their funds, and time frame for their dreams and future plans. They should have the same qualities and mind-set of a runner/athlete. A runner could be thinking these: beating one’s personal best time, conquering one’s fear and, at the same time, finishing the 5 km.
Discipline is the key
For runners, the training regimen should be continuous in achieving your stamina, endurance and other attributes if one wants to develop, including one’s cardiovascular fitness. It always has a time frame, and nutrition and exercise program considering the distance to run.
In personal finance, a person who really wants to achieve one’s personal goal should implement a saving and investing financial program that could be used for short- or long-term plans for oneself or for his or her family.
The delaying tactics or sacking off a week after your last training is not an option. For those who are determined to achieve their goals, if you wander off or get sidetracked, try to get back quick and do it double time. Investing on mutual fund or a unit investment trust funds is very useful as investment vehicles.
It’s a mental game, so suck it up.
In running, the mental asset is stronger than the physical strength as most people thought. But I partly agree with this saying. Everything should be balanced from the angles of training, nutrition and the fitness program, including the psychological aspect of a runner that he or she is thinking clearly and positively in achieving their goals. It’s all in the mind for athletes who visualizes themselves in the end of the race of winning that trophy or award. Anyone who engages in this type of sport feels physical pain and discomfort in the process. Same with personal finance (minus the physical pain), what are your plans in the long run and how do you want to achieve it? Making a lot of sacrifices, like living within your means, paying off debts, creating a college educational fund for a child or making an personal investment plan for oneself are just a few examples which are already challenging enough for anyone to achieve.
****
Benedict Baluyot is a Registered Financial Planner of RFP Philippines. He is professional real estate broker with specialization in project selling and general brokerage of different estate properties from different local and national developers in Pamapanga and Metro Manila residential and condominium projects.
Source:http://www.businessmirror.com.ph/index.php/en/business/banking-finance/28040-running-as-metaphor-for-one-s-financial-well-being
Comments
2,810 total views, 1 views today
Social