Personal Finance Tip of the Week, By Financial Fundamentals, LLC of Watertown

A week ago the New England Patriots won the Super Bowl, and the hero of the game wasn’t the most famous or highest paid player on the team. Instead, it was Malcolm Butler, a little known player who seized his opportunity to help the team win and fulfill his own goals and dreams.

That moment reminded me of Dave Roberts, who had been relegated to a small back-up role on the 2004 Red Sox, but seized his chance to make the biggest steal in Red Sox history in game 4 of the American League Championship Series. It saved the season and led to a World Series title.

But what do Malcolm Butler and Dave Roberts have to do with personal finance? I would argue that the mindset that made them such a big success in critical moments is the same mindset that has helped many people become successful with their finances and achieve their financial goals. Consider these attributes:

1. They didn’t have a pity party. Both Butler and Roberts found themselves in roles that were more modest than they probably had hoped. But they didn’t give up or sulk. Instead, they maintained a positive attitude and looked for ways to make the most of their situation.

When faced with modest or difficult financial circumstances, some people form a pessimistic attitude that the future is bleak and there is nothing they can do about it. But optimism - the feeling that better times are ahead and in your control - is a “wealth magnet” that can lead to future financial success.

2. They prepared. Butler and Roberts weren’t bench-warmers who never expected to be put into the game. They built and maintained their skills in practice with the expectation that their skills would be put to good use. In fact, Bill Belichick said after the Super Bowl he felt Butler was poised to make a big play based on Butler’s hard work and preparation on the practice field.

Preparation is a big part of financial success too. Financial goals don’t get achieved by chance. Most people achieve goals deliberately by completing all sorts of preparatory activities, like gaining knowledge in relevant financial topics, getting their financial activities organized, and drafting an action plan.

3. They took action. Butler and Roberts didn’t freeze when they were asked to hit the field. They grabbed their helmets and went out there, ready to perform. Once there, they used their skills, experience, and preparation to full effect, helping them achieve team and personal success.

Some people feel paralyzed by their current financial situation. But inaction often leads to a more difficult financial situation down the road. It’s important to “get onto the field” and take some positive steps, even if they are small initially.

Dave Roberts has said that his stolen base was the highlight of his long career and created lasting abundance and recognition in his life. Not a day goes by that he isn’t thanked and congratulated by an appreciative fan.

Who knows what financial abundance awaits you in your life? But one way to get there is through persistent optimism, preparation, and action.

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Stephen Barkhuff, CFP(R), CFA is the founder and president of Financial Fundamentals, LLC, based in Watertown, MA. Financial Fundamentals helps couples and singles with modest incomes take control of their financial future. Please feel free to email him any questions or comments.