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Month: March 2018

Using Your Athletic Strengths to Overcome Financial Setbacks

Using Your Athletic Strengths to Overcome Financial Setbacks

Financial setbacks and difficulties are something that all of us encounter at some point of our lives.  To be able to deal with these challenging financial situations, we all try to draw upon our experiences and strengths in order to bounce back as quickly as possible. Athletes are no different than the rest of us in this respect; they also try to use their strengths to deal with financial distress.  What is different though in the case of athletes, is…

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Learn from your failures and achieve financial stability after retirement from sport

Learn from your failures and achieve financial stability after retirement from sport

One of the huge topics of discussion within the Sports Financial Industry and among professionals is the Financial Failure of Athletes. There are many professionals dealing with this subject and there are numerous articles and publications that provide advice regarding the actions to be taken to prevent this. The vast majority of such publications and articles are devoted to giving advice on actions to be taken when an athlete is just starting his career or during his sports career. What…

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The Money Smart Athlete’s Relationship to Failure

The Money Smart Athlete’s Relationship to Failure

by Debra Russell   As an athlete, you have a distinct advantage when it comes to financial challenges or failures – that is, if you remember the lessons you’ve learned from your sport. There Is No Failure, Only Feedback! As a successful athlete, when you have a loss, or blow a play, you cannot afford to wallow in despair. You know that every mistake brings with it an opportunity: To learn, To grow, To hone your skills, To evolve your…

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Resetting your finances: 5 steps to help you take control of the situation

Resetting your finances: 5 steps to help you take control of the situation

Athletes need to make financial decisions like any other person, but the challenges they face, such as the special nature of their income and managing sudden wealth, makes them susceptible to taking a hard fall when faced with similar financial hurdles as the majority of the population. Whatever the cause of finding yourself in financial distress and with no light visible at the end of the tunnel, giving up shouldn’t be an option. We have created a list of 5…

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Financial Failure: 4 Steps to Regain a Positive Attitude

Financial Failure: 4 Steps to Regain a Positive Attitude

Financial failures and setbacks are unavoidable in life. It is true that, we all had that time in our life that we had our financial hardships, sometimes mild and sometimes severe. What we have to realize is that no one is perfect! It is a fact that the most successful people around the world are the ones who have failed the most to reach high, even if we only know and see the ‘shiny side’ of their success and we…

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March 2018 Editorial: How the Money Smart Athlete deals with Financial Setbacks and Failure

March 2018 Editorial: How the Money Smart Athlete deals with Financial Setbacks and Failure

1 March 2018   Setbacks are part of everyday life, and the manner in which they are dealt with contributes greatly to the resulting outcomes of such setbacks. Athletes have more than their fair share in setbacks, especially financial ones, which unfortunately sometimes may even result in complete financial failure, with devastating effects. The financial failure of athletes is a much discussed problem due to its magnitude. This month we are addressing the issue of financial setbacks and failure of…

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