What Sports Teaches Us about Money & Finances

If you have any males which make up a big part of your everyday life, whether it’s your hubby, long-term boyfriend, brother cousin, son or father, you’ll inevitably get subjected to what may very well be a religion, sports. You may well even love sports yourself and for even those who aren’t really into football and the likes, actually going out to catch a match live is a lot of fun. Watching it on the telly can really be a lot of fun too, but your enjoyment of any sporting code starts with understanding the rules.

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It’s rather enchanting, but it really doesn’t have to be senseless fun. We can learn a lot from sports, something I came to realise when scrutinising a conversation between two cricket fanatics that went on for all of four hours! I kid you not…

I couldn’t help but jump in every now and then, mostly asking questions of course, but I can safely say that sports does indeed teach us a lot about a lot of things, particularly about money and finances.

Planning is Important

We can perhaps credit the great organisation witnessed in sports today to the earliest pioneers of the various sporting codes, but what that organisation has by way of a financial lesson is indeed that proper planning is important. You think of the logistics which go into say getting the English cricket team to an event like the ICC World Cup and you realise that someone, somewhere has their hands really full just getting everything organised. In the end though, all the money which is likely spent comes back multiplied. I mean yes, a lot of money is spent booking plane tickets and hotels, ensuring any flight delays don’t have an effect on proceedings, feeding the players (special diets at that) and just ensuring they’re in tip-top shape to do what they do best, but that money comes back through sponsorships, prize monies, etc.

So I guess it’s a case of spending now, but spending wisely so that you can make some good returns.

Doing Things in Bulk Saves a Lot

Well in the case of the cricketers it’s a matter of doing things as a group which saves a lot of money. Airlines will bend over backwards to accommodate an entire team of professional sportspersons, including all the behind-the-scenes staff, sometimes even going as far as sponsoring their flights for some very effective marketing. The lesson to be taken into our everyday financial lives is that simply banding together to perhaps buy in bulk or negotiate some deals can have us in for some mega savings. In many instances it’s made very easy for us, through the likes of specialised group savings platforms like Groupon, but if more of us truly made an effort to come together and make use of the sheer power of numbers, we’d be in for a lot more savings.

How many people flying to the same destination could perhaps have pooled their money together and hired a private plane, for instance? That might be an extreme example, but a very viable one nevertheless.

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