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Category: Economic Environment

Internet based businesses as an option for the entrepreneurial Money Smart Athlete

Internet based businesses as an option for the entrepreneurial Money Smart Athlete

When preparing for your future outside of sport and trying to figure out how you will financially support yourself and your family after retirement from sport, you will have a few major decisions to make.  One of the most important decisions you will have to make, concerns transitioning your career to either being employed or starting your own business.  If you feel ready to take the risks associated with becoming an entrepreneur and decide that the world of business is…

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Collective Bargaining Agreements in Sports: How do they work in the United States Vs Europe

Collective Bargaining Agreements in Sports: How do they work in the United States Vs Europe

Sports Employment and Collective Bargaining Agreements in the United States Professional sports in the United States are almost a world by themselves when it comes to labor relations.  Professional sports franchises in the United States usually have separate owners but the interests of the owners are unified as a league.  The collective bargaining process in the US sports industry has commenced as a tool to protect the welfare and rights of professional athlete-employees and currently the three most popular sports…

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Combine and consolidate your contracts for financial success

Combine and consolidate your contracts for financial success

The occupation of professional athlete, has become recognized as one of the most financially rewarding professions. As a result, when starting your sports professional career, dealing with your contracts can be intimidating. While athletes can technically choose to negotiate contracts on their own, nearly all athletes depend on their sports agents to negotiate their playing contracts on their behalf. Despite the fact that most sports contracts are negotiated by sports agents, as a Money Smart Athlete, you should have a…

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Salary Caps in the United States: How they work and their effect on the compensation of sports professionals

Salary Caps in the United States: How they work and their effect on the compensation of sports professionals

What are Salary Caps, where do we see them and how do they work? Salary caps are a tool utilized by various leagues, mainly in the United States, to promote competitive balance and assure that teams within a league are able to compete with each other. The issue of competitive imbalance is something that leagues have long been trying to resolve and in altering this issue, leagues have introduced various forms of salary caps that we’ll observe throughout this article….

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Unemployment, Inflation and Currency Values and their effect on the Money Smart Athlete

Unemployment, Inflation and Currency Values and their effect on the Money Smart Athlete

There are a number of economic indicators which give us clues as to how “successful” our economy is, how well it is growing, or how well positioned it is for future growth. These indicators include statistics, such as the number of houses being built or existing home sales, orders for durable goods (e.g., appliances and automobiles), consumer confidence, producer prices, and so on.  Alongside with GDP growth, unemployment and currency value are two of the most closely watched indicators, because…

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The effect of Business Cycles on the financial life of the Money Smart Athlete

The effect of Business Cycles on the financial life of the Money Smart Athlete

History has proven that in the long term an economy can grow over time, that investments can earn returns, and that the value of currency can remain relatively stable. In the short term however, that is not continuously true. Unsettled periods can upset financial plans, especially if they last long enough or happen at just the wrong time in your life. Systemic factors which include business cycles can have either a positive or a negative effect on your financial thinking…

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