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Author: moneysmart

Interview with Lauryn Williams, a Four times Olympian

Interview with Lauryn Williams, a Four times Olympian

Question 1: Discuss the challenges faced as a career athlete and a student in this dual career role? I would say, the biggest challenge that you face as an athlete and a student, is time management.  Once you master that though, you become better equipped to deal with other aspects of your life once you are done competing.  Having already managed two different and equally important things simultaneously, studying and sports, makes athletes really good at being able to juggle…

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Is there a way to pursue an Olympic career and still be able to pay the bills?

Is there a way to pursue an Olympic career and still be able to pay the bills?

By Constantinos Massonos, Contributor  More than 10,000 athletes from all over the world have competed in the last Summer Olympics with the dream of winning a gold medal. While a small fraction of Olympians seizes the opportunity and becomes rich and famous following their dream, the majority is faced with the harsh reality of struggling to make ends meet on the road to the games. Getting a moment in the spotlight every four years, comes at a great cost: years of expensive training,…

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THE MARKETABILITY OF OLYMPIC ATHLETES

THE MARKETABILITY OF OLYMPIC ATHLETES

By Andreas Themistocleous, Contributor I probably don’t need to say this, but the Olympic Games are by far the greatest sporting event in the world, all matters taken into account. It embodies the values, principles and spirit of sports, as the world has come to know. Perhaps its greatest disadvantage, being held every four years, is at the same time its greatest asset. Once every four years, the greatest athletes come together to compete in a once-off opportunity for sporting…

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Problems faced by athletes who chase the Olympic glory

Problems faced by athletes who chase the Olympic glory

By Niovie Constantinou, Contributor Olympic athletes impress sports fans around the world. But the reality is that a lot of them often find themselves struggling financially, emotionally and physically before, throughout and after their Olympic journey. Many of the Olympic sports only come into the spotlight every four years and only a handful of the thousands of athletes competing in the Olympics will return home with medals. Even fewer will be financially rewarded for the tremendous investment they have had…

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May 2019 Editorial: The Money Smart Olympic Athlete

May 2019 Editorial: The Money Smart Olympic Athlete

1 May, 2019 The Olympic Games are considered the world’s foremost sport competition with the participation of thousands of athletes from over 200 nations, competing in a variety of sports.  Participating in the Olympic Games itself is considered a great honor and achievement for any athlete but winning an Olympic medal represents the fulfillment of every athlete’s dream! To qualify for participating in the Olympic Games takes hard work; a strict training schedule, strenuous and consistent practice, dedication to the…

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The Major Leagues and Financial Literacy

The Major Leagues and Financial Literacy

By Lazaros Ioannou, APC Sports Consulting Limited  Athletes have a passion for their sport and a passion for the game.  They spend a lot of hours practicing and they focus on being successful at the game.  During their glory days of big dreams and big money, professional athletes do not think of obtaining the necessary knowledge which will help them make financial decisions with a life-long impact. However, they need to have at least a basic financial understanding to make…

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Sports Professionals- Why a budget matters when cost doesn’t

Sports Professionals- Why a budget matters when cost doesn’t

by Amobi Okugo Following a budget as a professional athlete is more difficult than it may seem. You get money from your salary, bonuses, appearances, per diem, etc and can spend money without accounting for what category it falls in. When it pertains to non essential expenses, staying in line with your budget and being smarter with where you spend your money will help you stay on top of your financial playbook. A budget is the process of making a spending…

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Financial Literacy Considerations for Student Athletes

Financial Literacy Considerations for Student Athletes

By Demetris Constantinou, Contributor As a student athlete, you always tend to believe that the most important thing you need to develop during college is the sport that you’re participating in. Truth is, this is partially correct, but there’s another aspect that most student athletes neglect: the importance of financial literacy. Starting from college, all the way until the end of your career in a professional league, you need to be aware of several basic financial literacy considerations which will…

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The Sports Financial Literacy Academy

The Sports Financial Literacy Academy

By Athena Constantinou, APC Sports Consulting Ltd The Athlete Vulnerability Issue Athletes are amongst the most financially vulnerable persons of our times and the statistics globally support this claim. There are various factors contributing to the financial vulnerability of athletes: Athletes earn substantial amounts of income but within the limits of a short time span, usually 10 to 15 years. The average annual salary of an athlete can be anywhere from 50 to 100 times more that the average household…

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How the Money Smart Athlete can overcome financial failure through financial literacy

How the Money Smart Athlete can overcome financial failure through financial literacy

By Constantinos Massonos, Contributor Professional athletes are widely recognized as some of the most influential people of our times, appearing in articles and videos everywhere; TV News, magazines, newspapers and social media. Viewers and readers find the stories behind the athletes’ lavish lifestyle and athletic performances intriguing and the athletes with the greatest achievements and influence can be considered role models. The celebrity status achieved by many athletes, makes stories of them going bankrupt, attract a lot of attention and…

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