How Jose Mourinho’s tactics can help you manage your finances

After Chelsea beat Liverpool last weekend the media was ablaze with comments and analysis on the tactics used by Jose Mourinho to defeat the Premier title favourites on their home soil.

Chelsea were accused of 'parking the bus' after using defensive tactics and not playing attractive football. The result, however, was that they won 2-0 so maybe the end justified the means.

Whilst reading all the after match reports it struck me that Jose Mourinho's tactics could be used in regards to managing your finances.

You start with a plan

Chelsea's tactics against Liverpool were planned in minute detail with every member of the team knowing their role.

The same applies with your finances. You need to know your income and outgoings down to the last penny and how you are going to achieve your financial goals - holiday, house move or retirement.

The best plan to start with is to create a budget  and I have explained the full process in this a article - Start 'big picture budgeting'

Protect what you have already have

Every football match starts with both teams already having one point each and Jose Mourinho's tactics are built around defending this above all else. If the opportunity arises then Mourinho will push his team to win the match but without taking too many risks.

It's like this with your finances you must protect the assets that you already have such as your own life or that of your partner together with your house and other possessions.

I have written some articles that will help you in this area.

Complete guide to Life Insurance - and how much you need

Income protection do, I need it?

How to save money on your buildings and contents insurance

How to save money on your car insurance

Investing for the future

All football clubs need to keep investing in new players as well as improving their current players to ensure future success on the field.

The same applies with your finances as you need to invest any spare money you have in the most effective way possible. Understanding what level of risk you are comfortable with together with taking advantage of any tax breaks available will help you reach your future goals.

The following articles will help you on your way to preparing for your financial future.

What is the best way to invest £10,000?

7 tips for the first time investor

Is buy-to-let the right investment for you?

Celebrate your successes

All football clubs hope to be successful and the players and fans will celebrate long into the night if any silverware appears in the trophy cabinet.

Although you probably feel that dealing with money issues is boring it is absolutely critical to your future financial success. So when you achieve a financial goal or clear a credit card debt you must make sure you celebrate these successes.

Part of your celebration will probably include a bottle champagne or a bottle (or two) of good wine and this article will make sure you get value for money.

Buying wine? - get value with this smartphone app (Money tip #247)

Teamtalk

Now I am an ardent Spurs fan so writing an article about one of our fiercest rivals really galls me (I think I'm breaking out in a rash!). However, when I see something that could help with your finances I have the need to share it - still there's always next season!

 

Image - khunaspix