In any case how does running and financial planning have in common?
I like the analogy of running and personal finance it has simple rules to follow. Running is easy to do but going an extra mile would require a lot of trials along the way. A person intending to engage in this sport must be physically and mentally trained in this type of physical sport. Sharing my sentiments on this sport, I have been running for sometime now and participated in short distance running mostly 2.5 Kilometer to 5 kilometer runs in the past. We know for a fact they are both different in a sense but there are lot of lessons I learned from these two different disciplines.
The preparation is the hard thing to do and it require continual improvement process
Disciplining yourself is the key
For runners, the training regimen should be continuous in achieving your stamina, endurance and other attributes if one wants to develop including one's cardiovascular fitness. It always has a time frame and program from nutrition, exercise and distances of the running aspect.
In personal finance, a person who really wants to achieve one's personal goal should implement a saving and investing financial program that could be used for for short to long term plans for oneself or for his / her family. This is the most hardest part any people do, the delaying tactics or sacking off a week after your last training is not an option but for those who are determined to achieve their goals it could be possible but if you wander off or get sidetracked, try to get back quick and do it double time. Investing on Mutual Fund or a Unit Investment Trust Funds (UITFs) are very useful be an investment vehicles.
It's a mental game, so suck it up.
In running, the mental toughness is stronger other than the physical strength as most people thought. But I partly agree with this saying and everything should be balanced from the angles from training, nutrition and the fitness program including the psychological aspect of a would be runner that he is thinking clearly and positively in achieving their goals. It's all in the mind for athlete who visualize themselves in the end of the race. Anyone who engages in this type of sport feel physical pain and discomfort in the process in which it is the same in personal finance minus the physical pain, what are your plans in the long run and how do you want to achieve it? Making a lot of sacrifices like living within your means, paying off debts, creating an college educational fund for a child or making an personal investment plan for oneself are just a few examples which are already challenging enough for anyone to achieve.
Mr. Benedict Baluyut, is a certified real estate professional (PRC Real Estate Broker) a regular member of Registered Financial Planner - Philippines. He writes from time to time with Registered Financial Planner Column at Business Mirror and MoneySense, a Personal Finance Magazine in the Philippines. Catch him on Facebook page Pinoymoneyvantage | Follow me on Twitter | Add on Google+ or visit his official blog at http://www.pinoymoneyvantage.net.