Sean Dyche was recently appointed as the manager of Everton Football Club. His leadership brings the best out of his players. He uses clear, concise messages that can also help you with your financial management. Here are 3 of the best.
Importance of Transition
In football, the changing of possession can lead to quick goals. Sean Dyche manages his team to be prepared for these transitions of possession. He prepares his players for the unexpected and instils a defensive awareness that enables his team to manage transitions well.
Financial planning for life’s transitions is hugely important. Moving from employed to self-employed, starting a family, moving home, or reducing your work hours? All these require careful planning.
Prepare yourself for life’s transitions by: holding a suitable amount in cash savings, keeping your personal debt to a minimum, and having the right financial protection in place.
Five Yard Fury
When playing for Sean Dyche, if you lose the ball, you must run furiously for five yards to try and win possession of the ball back. Five yards hard work now, can save a lot more running down the line.
The biggest mistake people make with their money is not working hard enough, early enough. Implementing good money saving habits and being a disciplined investor in your 30s, is much better than starting in your 50s. Yes, it’s time you paid attention to those pension savings!
Performance on a Budget
Well known as one of the thriftiest managers in the premier league, Sean Dyche does not overspend. He only buys players if they are going to improve the team and he invests in hard working, honest individuals.
A couple of nice tips from the ‘Dyche school of budgeting’ are,
- Have you already got something similar that could do the job?
- Buy nice or buy it twice.
If you’ve got a sports coach with perfect analogies for financial planning, I’d love to hear them. Please get in contact with me firstname.lastname@example.org.
This article was written by Gregory Deer at Muvado Money Limited, an appointed representative of Sense Network Limited. Dated 18th April 2023.
Remember that when investing your capital is at risk. The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested. Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.