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Month: December 2017

The Money Smart Athlete’s Goal Setting

The Money Smart Athlete’s Goal Setting

You must agree that being able to afford your dream life is an incredible feeling. Imagine having plenty of free time to live life on your terms and at the same time being able to help the people who are important to you. Goals define the action you must take in order to make your dreams real. Setting goals and priorities, and then following through with active plans to make them happen, is the essential process for turning dreams into…

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Why is it important for the Money Smart Athlete to develop a strong set of financial skills?

Why is it important for the Money Smart Athlete to develop a strong set of financial skills?

It is often being said that money is the most important thing in the world. Is money really as important as some people believe or should we consider them simply overly-materialistic? This is not necessarily true. Money itself, paper and coins are not important. What is important is that money can give you freedom and choices. When you have money you have the freedom to decide for things such as where you want to live or the choice to hire…

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Mindful Money

Mindful Money

by Debra Russell   Dealing with money feels hard, complicated, uncomfortable. I don’t mean spending it. I mean managing it, investing it, budgeting it, deciding what you can and cannot afford, talking to your partner/spouse about it. Just dealing with it! On top of all that are the expectations – You’re a professional athlete, right? You should be able to treat everyone to dinner or they’ll think you’re stingy. You should be willing to invest in this person’s opportunity and…

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Dealing with the sudden wealth phenomenon

Dealing with the sudden wealth phenomenon

Young athletes and the people who surround them make lots of personal sacrifices, for many years, in order for an athlete to gain professional status and be able to play sports for a living. Becoming a professional athlete can bring you fame and money, according to the sport you are competing in. But the effort athletes put to prepare themselves physically and mentally to perform at top level in their sport is almost never equal to the effort they put…

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Coping with family and societal pressures

Coping with family and societal pressures

Professional athletes live a unique life because of the status and visibility they enjoy, especially nowadays when they have millions of social media followers. They show unprecedented athletic skills and expertise and compete either in professional leagues like soccer, football, basketball, hockey and baseball or in elite tennis, golf, the Olympics and so on. Many end up making millions of dollars and are drawn to a lifestyle of the rich and famous, living for the moment, and revelling in their…

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December 2017 Editorial: The Money Smart Athlete’s Financial Psychology

December 2017 Editorial: The Money Smart Athlete’s Financial Psychology

December 1, 2017 Family, society and culture play a huge role in the development of the athlete’s financial psychology. Money is a social tool and our attitudes, beliefs and practices connected with it, are heavily influenced by the people who surround us. In addition, the pursuit of money is all about trying to meet either emotional or psychological desires. A large number of athletes with modest financial backgrounds and means, come to “sudden wealth” when they turn professional. Their decisions…

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