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Money Smart Athlete Blog

Building and Maintaining a Financial Plan

Building and Maintaining a Financial Plan, Financial Literacy

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.

Building and Maintaining a Financial Plan

Good Debt vs Bad Debt

Most athletes, early in their career, start dreaming of their shining moments; moments where thousands of people will be cheering their name in a packed stadium; moments when money will not be their main goal, but rather a means of solidifying their success! As an...