{"id":5807,"date":"2018-12-02T07:38:00","date_gmt":"2018-12-02T07:38:00","guid":{"rendered":"\/blog\/?p=5807"},"modified":"2020-01-13T07:50:04","modified_gmt":"2020-01-13T07:50:04","slug":"financial-lessons-you-can-learn-from-the-football-world-cup","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/whats-trending\/financial-lessons-you-can-learn-from-the-football-world-cup\/","title":{"rendered":"Financial Lessons you can Learn from the Football World Cup"},"content":{"rendered":"\n<p>Football fever has taken over the entire world. Whether you\u2019ve been lucky enough to actually go to Russia and enjoy the experience of a lifetime, or you\u2019re watching the matches at home in the company of friends, you have probably spent more money than what you\u2019d hoped.<br>\nIn case you find yourself in a bit of a financial hole, here are some \u2018football style\u2019 steps you can take to claw your way back into the game.<\/p>\n\n\n\n<p><strong>Know your formation<\/strong><\/p>\n\n\n\n<p>Just as in football, you need to have a system in place. And the defence is the starting point. A strong base means you can launch a quick counterattack. In your case, this equates to your budget. You should allocate your take-home salary thus:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>50 per cent on fixed costs (rent\/home loan, medical insurance, car loan etc.)<\/li><li>20 per cent on savings (mutual funds, fixed deposits, recurring deposits etc.)<\/li><li>30 per cent on discretionary expenditure (clothes, entertainment, leisure, holidays)<\/li><\/ul>\n\n\n\n<p>Here\u2019s another thing: people who spend less than 50 percent on fixed costs tend to feel abundant, but any more than that and they will feel stretched. Just like the defence would be in football if not well-drilled.<\/p>\n\n\n\n<p>Loans are a necessity today \u2013 when it\u2019s to settle your credit card loan, buy a home or car, or pay for higher education. Sometimes you may need to borrow for unanticipated expenses; and a personal loan might be the only way to prevent a calamitous own-goal that destroys your meticulous budget.<\/p>\n\n\n\n<p>To keep your defence strong, a Tata Capital <a title=\"Personal Loan\" href=\"https:\/\/tata-blog.osian.dev\/personal-loan.html\">Personal Loan<\/a> comes with its own three-man central defence:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Step-up Flexi EMI \u2013 You start off by paying a smaller EMI, which increases at defined periods until the loan is paid off. Such loans are ideal for people who expect their income to rise at regular intervals.<\/li><li>Step-down Flexi EMI \u2013 The initial EMI is the highest, and subsequently falls with time. Such a loan is ideal for someone relatively older who can afford to pay an initially high EMI, and see it fall over time so they have more disposable income.<\/li><li>Bullet Flexi EMI \u2013 These loans are ideal for people who receive periodic inflows and can manage intermittent payments towards the principal and interest charges, thereby reducing EMI payments substantially. There are no prepayment charges, and the loan includes a very high degree of customisation.<\/li><\/ul>\n\n\n\n<p><strong>Midfield is the heart of the team<\/strong><\/p>\n\n\n\n<p>The ability to create opportunities, as well as prevent threats, is the primary responsibility of the midfield. Credit cards can be a lifeline, but if you\u2019re drowning in debt it means you can\u2019t be enjoying life. Debt impacts all aspects of your life.<\/p>\n\n\n\n<p>List all loans and debts, including the interest and amounts to be repaid. This makes it easier to rank them in order of priority, and then plan your repayments. For many, credit card debt should be on top of the list, and it\u2019s an excellent move to pay this off first. Then see if loans with lower interest rates can be deferred. <\/p>\n\n\n\n<p>Set timelines for each of these, and most importantly, adjust your lifestyle to bring strength back to your midfield.<\/p>\n\n\n\n<p><strong>Substitutes can be game-changers<\/strong><\/p>\n\n\n\n<p>In any match day squad, the manager would have named substitutes \u2013 players who may not be as good as those in the first eleven, but who can be ready replacements in case of injury or a change of tactics.<\/p>\n\n\n\n<p>As in football, there comes a time when every business faces problems that hinders its smooth functioning. A business loan from Tata Capital is designed to help you to expand, invest, or meet working capital needs. The arrangement can be a revolving loan too \u2013 one which you can withdraw, repay, and redraw again in any manner and any number of times, until the arrangement expires.<\/p>\n\n\n\n<p>These are the chief benefits of a business loan from Tata Capital: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>No guarantors and no collateral<\/strong> \u2013 If you meet the criteria, you get a loan on your own cognisance<\/li><li> <strong>Pre-approved offers<\/strong> \u2013 Exclusive offers to existing customers, keeping your business position in mind<\/li><li> <strong>Online account access<\/strong> \u2013 Information on your business loan can be accessed online <\/li><\/ul>\n\n\n\n<p><strong>Think like a manager<\/strong><\/p>\n\n\n\n<p>Football is a game of risk, and it is the business of a football manager to look after everything to do with the team, including which players to buy or let go. But there\u2019s a board of directors at the club, who have a broader view, which is also very important. Likewise, when it comes to managing your money, you need to have a good idea of what kinds of investments you\u2019re comfortable with, and the level of risk you\u2019re prepared for.<\/p>\n\n\n\n<p>It\u2019s important to know the EMI, as this represents your monthly cash outflow when applying for a personal loan. Tata Capital Personal Loan EMI calculator indicates the EMI, principal, and interest payments over the loan tenure. With this tool, you can quickly deduce the loan amount you can afford. <\/p>\n\n\n\n<p>If you\u2019re unable to repay the loan on time, it will definitely impact your credit history, and affect your eligibility for future loans. Like a football manager, bad decisions at this stage could spell the difference between winning the title and finishing as an also-ran. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>In any match day squad, the manager would have named substitutes \u2013 players who may not be as good as those in the first eleven. <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/trends\/financial-lessons-you-can-learn-from-the-football-world-cup\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":5810,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[38],"tags":[],"class_list":["post-5807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-whats-trending"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Financial lessons you can learn from the Football World Cup \u2013 Finance Essentials - Tata Capital<\/title>\n<meta name=\"description\" content=\"Read this Tata Capital financial essentials blog to know about the financial lessons you can learn from watching the Football world cup this year. To find out more, click here\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial lessons you can learn from the Football World Cup \u2013 Finance Essentials - Tata Capital\" \/>\n<meta property=\"og:description\" content=\"Read this Tata Capital financial essentials blog to know about the financial lessons you can learn from watching the Football world cup this year. 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