Physical health has always played a huge part in my life. Playing football has shown me persistence, commitment, teamwork, accountability, patience, and tactic. Owning an F45 gym enables me to combine my passion for fitness, with investment.
I admire how someone’s fitness journey can empower them to learn new things about themselves and essentially look at life from another perspective. People who complete marathons learn what their body and mind is capable of, no matter where they started. Their sense of accomplishment and humility is inspiring.
So, what does completing a marathon have in common with financial your goals?
Your head
You run the first third of a marathon with your head. You must be smart about it. SMART = specific, measurable, attainable, relevant, and timely. The SMART goal method has been around for a while, and it also applies to financial goals.
Ensure your language is right – your inner voice has more sway than anyone else in your decision making. Talk to yourself with how you want to be – not, “I hope I don’t hit the wall,” it should be “I’m going to set a pace I can keep.”
Visualise crossing the finish line or being mortgage free. Think about the end goal. What does that look like? How do you feel in that moment?
Find a routine and set small goals. Once you are running, do not think too far ahead. Where you want to be is in the zone. Find the length you work well to; in a marathon it would be the next lamp post, a kilometre, etc. With your financial goals it would be what you spend in a day, week, month, etc.
Your legs
You run the second third of a marathon with your legs. This is where you need strength and why you must train.
Be aware of your limits. The 26.2 miles in a marathon put you at a significantly higher risk for injury than you daily neighborhood jog. It is a good idea to have a checkup with your doctor before embarking on any training program.
The same can be said for your finances. Get a financial health check before you find a dream house or investment opportunity. This way we can set up a savings plan, so you have good history when it comes to applying for a mortgage.
Start small by running a few shorter races. It’s an excellent way to prepare physically for a first marathon. The same can be said by having some short-term financial goals.
Build your weekly distance over time, then every so often, do a long run so your body can adjust to long distances. Practice faster running at intervals to increase your cardio capacity. Adequate rest helps to prevent injuries and burnout.
Again, a great comparison for your financial strength. Sometimes lump sums onto your mortgage are beneficial, sometimes you need a top up to go on a holiday and ensure you are still enjoying life. These can all be planned and prepared for in the time leading up to the next run on the property ladder.
Your heart
You run the last third of a marathon with your heart. You need inspiration to keep going. Despite all the preparation and training for a marathon, things still happen that are beyond your control. A heatwave on the day, or it’s bucketing with rain, or you simply wake up not feeling well.
It can be so easy to get caught up with the goal that you forget running is supposed to be fun. When every run becomes a workout, it soon becomes a chore – not a fun way to train. Join a new running group, explore a new route, buy some new running shoes, go for a run, and just see where you end up. Mix it up and remember to enjoy what you are doing.
When you are saving hard, or maxed out on mortgage payments, sometimes you need a release – and not one that destroys all the hard work you’ve been doing. Perhaps it’s just a cup of coffee from your favourite barista, or purchasing a book, an arts project, or perhaps some DIY around the house to remind you what you’re working towards.
“A marathon is hundreds of miles. The finish is the last 26.2.”
If you, or someone you know, is looking to prepare themselves for their first home purchase, I’d love to have a chat with them about their financial preparation to give them the best success with their goals.