Bears vs. Colts - Super Bowl XLI Risky Business for Many Looking to Make Financial Gains
Well, the big day has finally arrived. Whether you’re interested in football or not, it’s likely that you’ve factored tonightï¿½s Super Bowl into your plans in one way or another. Millions of people are forecasted to watch tonight’s game, causing it to be one of the biggest television events of the year. Whenever you get that large of a captive audience together, it’s bound to bring about high stakes business transactions across the board.
Certainly the athletes that will be playing tonight are one group that has a lot riding on tonight’s game. Making it to the Super Bowl is likely a dream for most of them, and actually winning would be a highlight of their careers. Those playing in tonight’s game have the chance to realize one of their greatest goals and ensure the safety of their careers, or potentially make mistakes that will haunt them for the rest of their lives.
For many people, the advertisements we’ll see tonight are half the fun of the big game. Companies spend big bucks for just moments in the spotlight afforded by the Super Bowl. Hoping to reach as many potential customers as possible, large companies pay millions of dollars ($2.4 million, a new record to be exact) for 30 seconds on T.V. and hire the top advertising agencies to develop catchy concepts that will bring them new business and keep viewers talking until Super Bowl XLII.
While we may think we’re just spectators, tonight’s game could have an impact on our finances as well. Whether we spend money on one of the many football pools revolving around tonight’s game hoping to win big, or succumb to the pressure to spend money on something we don’t need as a result of tonight’s advertisements, the Super Bowl is likely to cause us to make some financial decisions based on our emotions rather than logic.
We’ve discussed the issue of emotional investing/spending in the past, and it seems that our actions around the Super Bowl are comparable to our spending during the holiday season and how we choose our first stocks when we enter the stock market. While normally we’d make thoughtful and rational decisions, we resort to investing compulsively and based on our emotions. So whether your team wins or loses (or didn’t make the Super Bowl at all) I hope you enjoy tonight’s game and use it as a chance to see how you manage your finances in light of the big business and high stakes going on all around you.