A Wealth Mindset is a Team Effort

Sports are a wonderful way to build a team. Coming together for the common good is rewarding and gives you people to celebrate the wins and losses with. Some sports rely on the entire team for the win, while others - like track and field - are individualized yet, still a part of a team. Your wealth mindset is also a team effort and works best when all the players are working towards a win.

Who is on your team?

Some ideas include:

• Your Spouse
• Your family
• Your financial planner
• Your banker

 Your team is made up of obvious players, from your spouse to your banker. Having the buy-in of your family is important so you are working towards a common goal. From spending, saving, to being generous, all the players help make your wealth a win/win situation.

Having a game plan and practicing your wealth management will ensure that your team is ready when adversity comes, and they need to buckle down for the greater good.

Who else might be on your team?

Some ideas include:

• Your debtors
• Your customers
• Your service providers

These not-so-common teammates are similar to the special teams in football. They have an important supporting role in your team’s success. Debtors provide credit and create an opportunity for you to spread out your debt allowing you freedom as you go. Your customers or your employer are an important part of how your team earns and manages their money. Without them, your income suffers. Service providers offer you goods and services that help your team run efficiently.

Each of these special teams has room to negotiate and make life easier or tougher depending on how you use them. Do what you can to make the team cohesive and work towards that win/win. Your success is sweeter when the team is working in tandem for your best outcomes.

Paying special attention to the role of each teammate is crucial. One player having all the attention won’t glorify the team. Without the efforts and success of each player, a weak spot will develop and make the team vulnerable. From your family to your service providers, make sure that each teammate is operating to their fullest potential and you can expect a winning wealth season, ultimately making it to the Super Bowl of wealth and success.

I would love to be part of your team ad help you improve your money mindset. You can see my 1:1 coaching packages here:

Leonor Herrera Coaching