When you think of the Olympic Games, money probably isn’t the first thing to come to mind.

However, the journeys of local and international heroes involve planning, discipline, support and playing the long game – many of the same things we need for financial wellness. Here are a few pieces of inspiration we can take from sporting sensations who make it to the top.

1. Plan for the future

In order to make it to an elite level, athletes have to think ahead and often plan for months and years out. Similar principles apply when it comes to saving in the short or long-term. Often, we need to think about what our goals are, how much we can put aside, how to budget, cut back on spending and what it will look like if we achieve what we want to achieve.

2. Think big

 To get to the top level, Olympians need to have high goals and aspirations. Thinking big can also help when it comes to planning our finances: to save money over decades or achieve career goals, we often have to look at the big picture, believe we can get there and take smaller steps over time to achieve those bigger dreams. 

3. Prepare for setbacks

Imagine having an Olympic-sized goal and then getting injured prior to the Games. Unfortunately, that’s the reality for many athletes. Like Olympians, we’re all likely to face setbacks and challenges with money throughout our lives. For example, the cost of living could rise at a quicker rate than the money you’re paid or an investment could perform worse than you expected to. Olympians are trained to manage and adapt to setbacks, which is often important when it comes to money too.

4. Get support

Olympians often have teams of people behind them, advising them on everything from what to eat to when to train. They also have their family and friends rallying behind them.

When it comes to money, support is also essential. It may be helpful words from friends and family, financial counselling or building your knowledge through courses and financial literacy training.

Like every article on this website, this is not personal financial advice.