Personal finance , lessons from baseball

Personal finance , lessons from baseball

baseball finance choosing best batting gloves

It has become a tradition for baseball fans and players to look forward to spring training. It’s a sign of hope that comes with fresh start that the new season will bring regardless of how they performed last year. As the new season gets underway, it’s a good opportunity to take and evaluate your finances from a baseball perspective.

It’s prudent to proceed one base at a time

Seeing the homerun light up on the scoreboard is such an amazing feeling however it’s good to note that games are won through a series of base hits facilitated by singles and doubles which get runners in a scoring positon. This approach of one base at a time can easily be applied to one’s financial journey. You need to identify what are the financial goals, what are the incomes and expenditures. Are you putting some money aside for retirement regularly? Understanding that the small steps are the building blocks for the greater success of the bigger goal is important. A good financial plan that outlines this small steps like amount of monthly savings will definitely be a good guide.

Cover your bases

To minimize the chance that a runner will reach the base safely, the baseball player stands close to the base to protect it. Financially it wise to be prepared for the unexpected. Having some savings for emergency will help bolster your resilience when bad time comes calling. This will prevent you from dipping into other savings like retirement funds or using expensive financing options like credit cards. Setting up insurance is also a great idea as it helps in times of emergencies such as health, disability and property.

Strike out swinging or strike out looking

Players understand that striking out is an integral part of the baseball game though most fans may not appreciate this. Actually it’s more common to strike out that to get hits. Ty Cobb holds the record for the highest batting average record of .366. Waiting for the right pitch in baseball is sometimes the best action for the player

Every baseball player understands the importance of having the right gear for the game. For batters, the difference in a good hit might depend on the grip of the players hand on the baseball bat. Understanding the factors that account for the best baseball batting gloves will definitely increase the player’s odds. Financially lack of knowledge of the different financial products can go against achieving your goal. You need to understand the interest rates, insurance charges and other hidden charges when taking a loan for instance.