Financial Lessons You Can Learn from Fantasy Football

With summer winding down and autumn creeping in, are you ready for some fantasy football? Drafting the best team and guiding them toward the championship takes knowledge, dedication, skill, and talent. But fantasy football is much more than just a super-absorbing hobby. You can actually learn a lot about money management and growing your wealth from the game.

Do your research

Every fantasy football aficionado can tell you that your team’s performance throughout the year significantly depends on that one day (typically) in August: Draft Day. Knowing which NFL players to “draft” to your team is crucial to its success. In the weeks leading up to draft day, the true fantasy football pro knows to listen to podcasts from training camps, research potential trades, and learn about past performances of various players. Come prepared for draft day and you will make better decisions.

In personal finance, the rules are similar. When choosing a place or company to sink your money into, you’ll want to do as much research as possible and ask lots of questions to ensure success and alignment with your values.  

Diversify

In fantasy football, it’s important to diversify your team and to draft players who excel at various positions in real life to ensure the most wins. In finance, diversification is even more important. You’ll want to spread your investments over a mix of whole-market funds, securities, and savings accounts. The more exposure your portfolio has among various asset classes and markets, the more protection it has against market volatility and inflation.

Assess your financial health throughout the year

A real fantasy football pro will monitor the performance of their players in real life. There will always be players getting injured, teams that change their strategies and players who are having unproductive seasons. You’ll need to keep an eye on what’s happening so you can make the best decisions about adding potential players on the waiver wire going forward.

To achieve and maintain true financial wellness, you’ll also need to monitor your budget, savings, spending habits and more throughout the year. Review and assess your money management every few weeks for the best results.

Fantasy football is so much more than an addictive hobby! Fantasy football can teach you financial lessons for life.

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