How Financial Planning Is Like Playing Sports
Both can help you improve your life by boosting your confidence and encouraging smart decision-making.
The pavement is hard to dent while wearing small tennis shoes. If more young girls joined in, they could shake the ground and make an imprint in concrete. On February 9, we celebrated the 30th annual National Girls & Women in Sports Day. The theme this year was "Leading the Way," which was in appreciation of all those individuals and organizations on the front line for girls and women in sports.
I'm honored to have been a Girls on the Run coach for two seasons and to be the mother of two confident daughters. Girls on the Run is a non-profit organization dedicated to creating a world in which every girl knows and uses her limitless potential and is free to realize her goals. Coaches reach these girls through interactive lessons and running games. The 24-lesson curriculum is taught by certified Girls on the Run coaches and includes three parts: understanding ourselves, valuing relationships and teamwork and understanding how we connect with and shape the world at large.
I believe that playing sports builds confidence. I see the fire igniting inside every girl when she dons her bright running gear, messy ponytail and flushed face. I want the girls on my team and my daughters to have that fire—and never let it be extinguished.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Girls on the Run is about more than running. It is a fundamental part of their journey toward higher self-esteem and greater confidence. My 10-year-old daughter, Karolina, has been on the team for three seasons. If she stumbles, she has the confidence to get up and keep striving toward the finish line.
It is also about teamwork. My older daughter, Sarina, is 19 years old and often runs with Karolina to encourage her. Women need to support each other and bond together to create a more powerful network.
The financial world is no different: You need confidence and a good support system to achieve your goals. As a Certified Financial Planner professional, my passion lies in ensuring that women are financially confident—and I coach my clients just as I do my girls. I always challenge myself to inspire and empower those around me to believe in themselves and reach their full potential.
Here are four more ways playing sports and financial planning parallel each other:
1. Both help reduce stress.
Stress causes the immune system to weaken and depression to seep in—and dealing with finances can add to your burden. Playing sports is a great way to burn off stress and feel good. Similarly, taking control and being proactive with your finances can reduce the stress you feel.
2. Both encourage smart decision-making.
Women and girls need to understand science and math to succeed in sports. There are a lot of calculations that go into making a basket or figuring out what the opponent's next move will be.
Having financial literacy is equally as important to achieve financial wins. Financial education helps everyone—particularly women—gain clarity, confidence and control over their personal finances. You need to understand money matters in order to make big decisions such as whether to attend college, which student loan payment option is best for you or what kind of car to purchase.
3. Both allow you to give back to the community.
Sports connect the participants with the community who watches the game. In fact, as a Girls on The Run coach, I urge the girls to identify and champion a community impact project and earn money for charity.
With smart financial planning, you can incorporate giving money to charity into your budget and put your money to work for a cause you believe in.
4. Both give you reasons to celebrate.
The Girls on The Run season culminates with a 5K. It's so exciting to see them each cross the finish line—whether she comes in first place or last.
I celebrate the success of my clients the same way. Whether you pay off your student loan, contribute the maximum to your retirement plan, open a 529 college savings plan for your child or grandchild or make a charitable contribution, reaching your goal—no matter how long it may take—is a great accomplishment.
Marguerita M. Cheng is the Chief Executive Officer at Blue Ocean Global Wealth. Marguerita is a spokesperson for the AARP Financial Freedom Campaign and is often featured in national publications. As a CFP Board Ambassador, Marguerita helps educate the public, policy makers, and media about the benefits of competent, ethical financial planning. She proudly serves on the FPA National Board of Directors and is a frequent speaker on on financial planning, Social Security, diversity, elder care, and retirement.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Marguerita M. Cheng is the Chief Executive Officer at Blue Ocean Global Wealth. She is a CFP® professional, a Chartered Retirement Planning Counselor℠ and a Retirement Income Certified Professional. She helps educate the public, policymakers and media about the benefits of competent, ethical financial planning.
-
Your Retirement Savings and Spending Should Change Under Trump
These five strategies will safeguard your retirement savings and spending during this period of rapid change.
By Coryanne Hicks Published
-
Listed: 3 Fabulous Homes to Retire in Portugal
See three fabulous real estate listings of homes in Portugal for a vibrant retirement, as part of Kiplinger's "Listed" series.
By Alexandra Svokos Published
-
These Two Issues Are Critical to Efficient Retirement Planning
You're saving hard for retirement, but if you're not thinking ahead about taxes and the cost of health care, your savings — and your legacy — could be at risk.
By Cliff Ambrose, FRC℠, CAS® Published
-
How to Use Good Debt (While Identifying and Avoiding Bad Debt)
Not all debt is bad, but knowing the difference between good debt and bad debt and how to use them can help you get ahead financially and stay ahead.
By Mike Decker, NSSA® Published
-
Four Potential Tax Changes to Keep Your Eye On
Many taxpayers may be surprised by a larger tax bill if the TCJA isn't extended. Check out these proactive strategies to help mitigate some of the impacts.
By Adam Frank Published
-
What Can Happen if You Live Together Without a Cohabitation Agreement?
Lots of people live together without being married, and there's nothing wrong with that, but if things go south or one partner dies, complications can ensue.
By H. Dennis Beaver, Esq. Published
-
Six Risks of Delaware Statutory Trusts in 1031 Exchanges
Here's how proper preparation can help you successfully navigate these DST risks, from market uncertainties to structural limitations.
By Daniel Goodwin Published
-
Financial Strategies Borrowed From the Big Game's Playbook
Like the best football teams, you can win at financial planning by executing a strategy, making halftime adjustments and staying focused on the ultimate prize.
By Frank J. Legan Published
-
Three Ways to Plan Now for a Social Security Shortfall Later
The outlook for Social Security is gloomy, but you can save now to protect against benefit cuts later. If the cuts don't happen, you'll still be better off.
By Tyler Jones Published
-
Extra Cash? Should You Pay Off Debt or Invest?
Depending on your financial situation, you might benefit from paying off debt, investing or both. Here are some things to consider before deciding.
By Anthony Martin Published