Create an action plan for your financial goals


 Talk is cheap – British Telecommunications, BT

A few years ago, the anchor quote above was famously used by BT to woo new customers and also  retain existing ones. In that context, talk is cheap, although if you talk anyhow and have to make many trips to buy recharge cards or to top up your airtime, your experience may be telling on your pocket.

Talk is actually cheap in this context , because not many people can walk their talk – a lot of people just talk the talk. Those talk soon vanish into thin air unless there is an action plan that is faithfully executed . Having told you to review your financial goals – hopefully ,  you did. By the way ,  how many financial goals did you resuscitate  or have altogether ? In practical terms , you shouldn’t have more than six   or at the most, ten. Whatever the number you  settled for, It’s now time to create an action plan in order for those goals to become realities.

Having goals and then creating an action plan  is the way English Premier  League football clubs and even the ordinary builder in Abeokuta ,-  go about making their goals come true.  So,  as often said, you don’t have to reinvent the wheel . Taking newly promoted Watford Football club as case study, they surely had a plan on how to go about their first season in the Premier league , and  this must have prompted them to create an action plan. Unfortunately , their number one priority was to fire the manager that took them from the championship to the top flight  – this life.  A man gets a club to the promised  land and the owners didn’t even give him the opportunity to be in charge for just ten weeks.  Talk of a way not to reward an achieving and faithful  employee.  Anyway , the point is, Watford , like other Premier  League clubs, created an action plan for whatever goals they have for the next season and they have started executing those plans.

The local builder in Abeokuta is following suit. There was a time the building you’re living in – be it yours or  rented – was just  a financial goal of the landlord . There was a time the landlord said to the builder, my goal is to have this house completed at a certain time, maybe two years  . The former would have had an action plan – putting   the money for buying cement away  every other month or whichever method was chosen.  The point is, It’s a natural order for an action plan to follow your financial goals . Even our President has been inundated with calls for action . Thankfully, you don’t have that type of problem. The action plan that you and I have to create are dependent on our financial goals .

So, if part of your financial goals for this year is to start making monthly contributions into the National Housing Fund via any of the mortgage banks, you need to know that you cannot wait for your employer to help you achieve this. Neither do you have to wait  for any salary increase or bonus – good luck if those come in at some point . You need to have a set date when you’ll open this account and act on that plan. The first step to doing this is to create the time to make enquiries from the bank .

Your financial goals might include having a big Christmas celebration , plus   a new set of clothes  and shoes for your  entire family. Now  is the time to have an action plan of how to actualise this . Don’t be tempted to use a  fire brigade approach. If saving half of the fees to do your MBA  next year is part of the financial goals that were shortlisted last week, now is the time to open an education savings account for it. . Remember what Anthony Robbins said – action is what separates winners from losers.

Never run away from your financial responsibilities : the heart goes out to Mrs Ruth Uche, the mother of three sets of twins abandoned by her husband . The Lagos state governor , Akinwunmi Ambode, surely deserves commendation for doing the right thing by coming to the aid of the mum of six. Hope the husband returns home as the deputy governor advised. The lesson we can all learn from Mr Benjamin Uche’s mistake  is that running away from our financial responsibilities is not a noble option. Come home, please,” baba ibefa” (father of six .), if you’re still on the run.

Oyedoyin, founder of the Money Intelligence Coaching Academy, wrote this piece in 2015



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