It’s that time of year again: football season! From fun tailgating to exciting games, football is one of the best parts of the fall season.
But what does football have to do with banking? Great question! Titonka Savings Bank wants to help you understand general finance in terms of football:
Offense, Defense and Special Teams
In order to win a football game, your offensive, defensive and special teams all need to be playing at their best. Your finances also have three major teams that need to be playing at their best in order for you to succeed financially: income, spending and investing. Your income is your offense as you need to go out, work hard and earn your money. Once you have money, you need to defend against over-spending. Lastly, your special teams (aka investing) play rather infrequently but can make a big impact when it’s needed.
In football, coaches call different plays depending on how much time is left in the game. This idea is very similar to retirement planning. Early in life, you have more options and can be more aggressive or conservative depending on your “style of play.” However, later in life, saving for retirement depends on what you done up to that point. You may need to go for it and be more aggressive or protect what you have already done by playing conservatively.
Offense Sells Tickets, Defense Wins Games
You know that indescribable feeling you get when you watch your football team score a winning touchdown? This excitement is probably similar to how you feel when you get your paycheck or when you receive that big bonus. But what is less exciting, requires more work and often times goes unnoticed is the defense: your saving and investing. Controlled and focused saving and investing will ultimately help you build more wealth and win the game.
Titonka Savings Bank wishes your team good luck this season! If you would like more information on savings accounts or general financial management, give us a call or stop by today!