Athletes and Budgeting: A few simple steps
The term budgeting tends to put people off and is usually associated with restrictive spending. Actually, having a budget is the first and possibly most important step in getting your finances in order and establishing the foundations for your long-term financial well-being. Another common misconception is that people with higher salaries – such as athletes – do not need a budget. The reality of it is, if you are prone to overspending it does not matter how much you earn; if anything, higher salaries are harder to calibrate in terms of spending. After all, a budget is nothing more than a summary of your expected income and expenses for a period of time; usually a month or a year.
