Monday, July 07, 2014

5 Banking Tips From Ronda Rousey's TKO UCF Victory

Ronda Rousey — a  mixed martial arts boxer (pictured left) — throws a mean punch, and her July 6 bout is a spot-on demonstration of the knockout power of NSF (non-sufficient funds) and overdraft fees.

I am not a mixed martial arts fan, but I learned a lot about frugal living from watching Rousey's recent performance
Here are 5 things I learned about NSFs and other bank fees:

1.  Speed and stealth are powerful weapons. 16 seconds. That's all the time it took, for Rousey to knock out Alexis Davis, her opponent.

The speed of the July 5 UCF battle reminded me about the speed in which fees and finance charges can hit my account if I'm not careful. I also need to be mindful of my own spending. I can be a speed shopper and technically knockout my own financial well-being.

2. Watch the balance. The first few seconds of the MMA fight foretold a long exchange of punches: round after round.

But after about 8 seconds Davis lost her balance — thanks to a strategic maneuver from Rousey — and the fight was cut short and ruled a knockout.

From that martial arts moment, I learned the importance of maintaining a healthy financial balance.

3.  Know your opponent.  Rousey is an Olympic Judo Champion, my oldest son told me. If I faced Rousey in the ring, (heaven forbid), I would be very wary of her ability to pull off a Judo flip.  Constant high alert!

Likewise, I need to know and be mindful of the rules and regulations that govern my financial accounts. 

4. Know when you’re hit and hurt.  After the knockout, Rousey's dazed opponent was not aware of what hit her or the fact that the bout had even started.

Her experience is a cautionary tale about concussions.

And it's also a pointed reminder of the danger of financial pitfalls. It's possible to stumble so hard and so quickly that we may not even realize that overdraft fees and NSF charges have inflicted serious danger on our financial well-being.

5. Be open to lessons from the universe. Boxing is not my sport. But I earned a handsome bonus by keeping an open mind when my oldest son asked me to watch the match with him.

We can find life and finance lessons in unusual classrooms and from unlikely teachers.

Day 7 Lesson: We're all teachers and students. Every moment offers an opportunity for growth and recovery.

That's what I believe...and you?

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