5 Parallels we can draw between the English Premier League and financial management

It has begun!  Another football season has come with its chills, trolls, and unforgettable moments. Clubs like Manchester United and Chelsea have opened the season with some defeats, and, expectedly, BBC Yoruba did not spare either with its headlines. After Man-U’s loss to Tottenham Hotspur, the publication’s interpreted headline was, “Man-U did not score a goal; Tottenham turned them into a tied goat for slaughter.” Hilarious!

As fans around the world don their jerseys, fill up stadiums with cheers, and get ready for months of thrilling matches, it dawned on us that there are key football elements that resonate with our financial literacy message at Herconomy.

And we want to share them with you! 

So here are five running themes between world football and money management!

  1. Setting a Game Plan || Financial Goals

Just like a football team strategizes before a match, individuals can set their financial goals for the season. Whether it's saving up for a dream vacation, purchasing a new gadget, or building an emergency fund, having clear objectives is essential. Fintech tools like Herconomy can be your playbook, helping you track expenses, set budgets, and monitor progress towards your goals.

  1. Scoring Savings Goals 

Fintech innovations are changing the way we manage money, much like how technology has revolutionized football tactics. Savings apps can stash money in vaults until it gets to an amount required for your needs. These "virtual goals" are like scoring a goal every time you save – and the more goals you score, the closer you get to your financial targets.

  1. The Great Assist: Budgeting and Tracking

In football, assists are crucial for a successful goal. Similarly, our suite of solutions act as financial assistants, helping you budget effectively and track your spending habits. By categorising expenses and highlighting areas where you might be overspending, you can unlock insights to make informed financial decisions. If you want to score really good savings goals, you need great assists like those from James Maddison. This is what Herconomy does with its budgeting tool.

  1. Winning with Compound Interest: A Long-Term Strategy

In football, a winning strategy requires both short-term tactics and long-term vision. The same applies to finances. While celebrating small victories like saving on daily expenses, consider long-term investments too. Fintech-powered investment platforms offer opportunities to grow your wealth through strategies like micro-investing and automated portfolio management.

  1. Celebrating Financial Victories

Just as fans celebrate their team's victories, remember to celebrate your financial achievements. Whether it's reaching a savings milestone, sticking to a budget, or making wise investment decisions, these successes deserve recognition. Apps like Herconomy can help gamify your savings journey, turning financial discipline into a rewarding experience.

Herconomy’s POV

So, as you cheer for your favourite team and witness the excitement on the field, remember that you too can be a champion in your financial game. With Herconomy as your coach, you're well-equipped to make this season not only about football victories but also about achieving financial success.

At Herconomy, we organise numerous capacity-building and wealth-creation programs to empower communities of women. We have a savings solution; an app we designed to help women grow their wealth. With us, you get 10% interest on your savings and kiss transaction charges goodbye. Also, we have a PLANS FEATURE that allows you to co-save with your girls for important experiences like trips, dates and staycations. All you need to do is create a public plan within the app for you and your girls to save money there. And voila! You’re trip-ready! 

Herconomy’s got the solutions you need, We were born with you in mind. 

Secure your future. Start saving today