The beginning of football season is upon us and I couldn’t be more excited. Watching Penn State on Saturdays and as much of the NFL RedZone Channel on Sundays as possible is a big part of what makes fall my favorite season. If you play fantasy football, you know the excitement you have drafting your team and heading into the season full of promise with a healthy team of players you believe in. I even go so far as being interested in hearing about other people’s teams and how they are doing even if they aren’t in my league. As much as I enjoy the fantasy football, I don’t dedicate a ton of time in the grand scheme of things by reading tons of articles, checking weather forecasts, listening to podcasts, or other activities that might make me a better team owner. My wife and I basically set aside 15 minutes on Sunday after church before kickoff to set our lineups and check the final injury reports. The beginning of the season got me thinking, what if everybody spent the same amount of time (or less) per week on their personal finances as they do researching and setting a fantasy football lineup? When I say personal finances, I mean looking your situation from a high level. Here are a few suggestions of what you can do to become more engaged with your financial lineup:
-Check your bank accounts to get a feel for how much money you have coming in on a monthly basis vs. what is going out
-Look at a retirement calculator to get a feel for how much you could accumulate based on what you are saving today and change the assumptions based on saving more or less
-Create a balance sheet to see where you stand today with assets and liabilities
-Look at your career path and see if there are education opportunities in your field that will put you in a better financial position
-Read a financial article on a topic that is foreign to you (ETFs, Mutual Funds, or Annuities just to get the wheels turning)
If you take vested interest in your personal finances, the concept of a financial plan and discovering if you are on track will be far less daunting. Ignoring or avoiding your finances can cause far more stress than taking some time to check your financial lineup. Admittedly it is much easier for most of us to spend the time on your fantasy team because there is a lot less at stake (thankfully in my case) with the results of fantasy football than there is working toward your version of financial security. Best of luck as the new season starts to all you fantasy football enthusiasts (aside from those in my league of course)!