By Demetris Constantinou, Contributor
As a student-athlete, you probably think your sport is the most important thing to focus on in college. That’s partly true—but there’s something else many student-athletes overlook: financial literacy.
From college through your pro career, learning how to manage money is essential. If you don’t build financial skills early, you risk falling into serious financial problems later. This guide breaks down three key areas to focus on while you’re still in school.
1. Learn to Budget
Budgeting is the first step toward financial freedom. A solid budget helps you avoid stress, stay in control, and plan for your future goals—like buying a car or taking a dream trip.
Think of budgeting as planning your money based on what you know is coming, not what you hope will happen. For example, if you receive a $5,000 grant every year, plan your expenses around that. Don’t rely on random cash you might find along the way.
Your budget should cover your income (grants, support) and all your expenses (rent, food, clothing, etc.). If your expenses are higher than your income, you’ll need to adjust. You can try to increase your income—through student loans or family support—or cut costs.
This budgeting habit will stay with you when you go pro. The numbers will get bigger, but the process stays the same. Mastering it now gives you a strong foundation for life.
2. Get Comfortable Saving
Saving might not sound exciting, but it’s critical. Most athletes have shorter careers than the average worker. That means you need to make your money last longer.
You might not have much to save in college—and that’s okay. Just start with a simple habit. Try saving $1 a day. By the time you graduate, you’ll have about $1,460. That small habit teaches you discipline and the value of long-term thinking.
Once you turn pro, you’ll already understand the importance of saving. You’ll know how to create financial safety for yourself and your future family.
3. Understand the Basics of Investing
You don’t need to become a financial expert. But you do need to understand the risks and rewards of investing.
In college, focus on learning—not doing. Take a basic finance, economics, or accounting class. It might seem boring now, but later, you’ll be glad you did. These classes teach you to spot red flags and avoid scams.
For example, if someone promises a “no-risk” investment with “high returns,” that should raise alarms. A simple concept like “high return = high risk” can protect you from losing thousands.
If you skip this knowledge, you’re more likely to fall for bad deals. Learning the basics now protects your future income.
Final Thoughts
This isn’t everything you need to know—but it’s a great start. These three financial literacy skills—budgeting, saving, and understanding investing—lay the foundation for your financial freedom.
Start building those habits now, while you’re in college. Your future self will thank you. The earlier you learn to manage money, the better prepared you’ll be for the real world—and for life after sports.
For more information on Financial Literacy Considerations for Student Athletes and details of our comprehensive Student Athlete Financial Literacy Curriculum you may contact us at [email protected].