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 on how to handle this sudden wealth are influenced largely by their financial beliefs and the expectations of society. We want to make the Money Smart Athlete aware of the power that financial beliefs and society pressures have on their financial behavior and lifestyle choices and what it takes for their financial behavior to change and improve.
This month, we are dealing with the Money Smart Athlete’s financial psychology. We want to give Money Smart Athletes the tools to understand and assess their money personalities and take corrective action, as well as empower them to withstand societal pressures and expectations. With proper guidance and support, Money Smart Athletes will be able to modify their financial beliefs and formulate winning financial strategies that can lead them to financial independence.
Athena P. Constantinou
Email: [email protected]
