The FIFA 2014 World Cup is in full swing and millions of people across the world are being entertained by the excellent football matches being played. I enjoy watching competitive sport, and have been fascinated by the dominance of smaller football nations over their more established counterparts.

The brilliance of star strikers from teams such as Spain and Portugal has been dulled by the exploits of the not-so-favourite teams like Costa Rica and Chile. I observed that it was often very difficult for the top teams to get the better of a band of players who were performing together like a well-oiled machine.

As I marvelled at this showcase of sporting teamwork, I reflected that we all could benefit from the help of others when we are trying to accomplish our goals. Instead of attempting to advance solely by ourselves, it might be useful to get the assistance of a supportive team in order to achieve our objectives.

Just like a football squad which is made up of players with different responsibilities, you might need to assemble a group of friends and professionals who can help you in various ways to further your goals. Let’s look at some of the possible members who might comprise your personal finance team.

Collaborate on budgeting

I often encourage persons to take the time to prepare a detailed budget. Budgeting is the starting point to effective money management, and it is an essential step in planning for your goals. Despite its necessity, many people struggle with the process of putting together this critical spending plan.

If you share household expenses with your spouse or another adult family member, it may be easier to complete your budget if you both work on it together. While you may not know or remember all the relevant costs, your budgeting collaborator could help to fill in the missing details.

To keep on track with your budget plan, you and other like-minded friends could establish a spending support group. The objective would be to help each other to avoid the pitfalls of impulse shopping and to provide positive reinforcement for making responsible spending choices.

Use qualified professionals

Although you may be able to benefit from the advice and support of your friends and family, there are some aspects of finance for which it would be best to secure the services of a professional. You could end up making costly mistakes if you try to figure out how to accomplish certain goals by yourself.

For example, when planning for a long-term goal such as retirement, you should discuss your needs with a licensed advisor who can demonstrate how inflation will affect your costs in the future and calculate how much you need to save and invest to build an adequate nest egg.

It’s also important to refer to financial advisors when investing your money. You want to ensure that you fully understand the investment option and that it matches your objectives. In addition, consult with insurance and estate planning professionals to manage your risks and prepare for your passing.

Learn from experts

The members of your personal finance team do not have to be friends, colleagues or professionals whom you know or with whom you physically interact. There is a wealth of information and advice which you can obtain from financial experts whom you may never even meet.

One way to gain knowledge and expertise about money is by reading books, newspaper columns, magazines or Internet websites that promote financial literacy. You can benefit from the expertise of persons who can guide you on how to make the right decisions about your finances.

Organised training may also be necessary if you want to become more adept in your business or investing activities. It might be profitable for you to pay for courses or coaching that could provide you with strategies to improve your results in carrying out various wealth creation strategies.

Get an accountability partner

As you work towards attaining your financial objectives, you may encounter obstacles and difficulties that could cause you to give up along the way. Discouragement is a hindrance that can be overcome with the help of people who will try to keep you accountable for the things you set out to do.

If you are easily swayed by challenges or if you often let procrastination delay your progress, then find a supportive friend or mentor who is willing to send you gentle reminders or boost you up when you feel depressed. As an accountability partner you will also keep them on track with their own objectives.

So your personal finance team should include strategy developers, professional players, expert trainers, as well as loyal cheerleaders. This entire group can get you fit and ready to work on your objectives, and help you to persist on the field until you score your goals.

Cherryl is a money coach, business mentor and founder of Financially S.M.A.R.T. Services. Her upcoming book, “The 3 Ms of Money” will reveal all the secrets she learned about financial success. Read more on money and business matters at financiallysmartadvice.com and entrepreneursinjamaica.com. Email comments to cherryl@financiallysmartonline.com.