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Month: May 2018

Good Debt vs Bad Debt

Good Debt vs Bad Debt

Most athletes, early in their career, start dreaming of their shining moments; moments where thousands of people will be cheering their name in a packed stadium; moments when money will not be their main goal, but rather a means of solidifying their success! As an athlete, even if you eventually reach this point in your life, your choices must be taken after careful consideration as money earned within many years, can disappear in just a few moments. When you hear…

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4 Tips to keep your debt under control

4 Tips to keep your debt under control

In today’s world, debt has become a necessity in various stages of our lives. Every person, at some point in their life wants to acquire something expensive, such as a car or a house. To finance these purchases, you usually need to take out a loan. As an athlete, you have learned to have full control of your physical condition and your health. The same attitude and discipline should be applied to your financial life, especially to the management of…

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What the Money Smart Athlete should look for when choosing a banker

What the Money Smart Athlete should look for when choosing a banker

As a Money Smart Athlete, you should know that your banker plays a key role in your financial life. Actually, you may come to realize that your banker can be a sort of silent partner!  If your banker is well acquainted with your business affairs, your industry and your community, he or she can be an important financial and business advisor and a critical component of any growth plan. We realize that it’s not easy to choose a banker who…

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Consequences of a loan default: The 4 Critical Questions

Consequences of a loan default: The 4 Critical Questions

As a debtor, you should strive to meet the legal responsibility of your loan repayment. We know that you had every intention of paying back that loan you took out when cash was tight. Nevertheless, now you’ve fallen behind by a payment, or maybe two, for several reasons. Or maybe it isn’t likely you’ll be able to catch up on those loan payments anytime soon. The failure to promptly pay instalments or interest when due, can create a multitude of…

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Debit Cards vs Credit Cards

Debit Cards vs Credit Cards

Understanding how debit and credit cards work, and what are the differences between them, allows you to make more informed financial decisions. Both debit and credit cards are widely accepted worldwide, and they give you access to money, without having to carry cash or your checkbook with you. Knowing the pros and cons of both types of cards, will help you use them appropriately and take advantage of the benefits that each one offers. As a Money Smart Athlete, you…

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5 Banking Essentials You Need to Know

5 Banking Essentials You Need to Know

Nowadays, the banking world has changed so much due to the extensive use of technology and the effects of innovation. For instance, electronic banking has become a necessity and makes our life so much easier. As an athlete, you should develop an understanding of how the banking system works and you should be aware of the advantages and disadvantages connected with it. It is important to make informed decisions about where and why you should bank. Opening and maintaining the…

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May 2018 Editorial: The Money Smart Athlete’s Guide to Banking, Credit and Debt

May 2018 Editorial: The Money Smart Athlete’s Guide to Banking, Credit and Debt

1 May, 2018   As a Money Smart Athlete, it is very important that you develop an understanding about how banks work so that you can manage your banking to your best interest.  Properly managed bank accounts can reduce expenses and protect your information.  There are different types of bank accounts which can help you get your finances in order.  We want to guide you through your options so that you have the knowledge to make the right choices. Nowadays,…

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