Professional Athletes – Module 05 – Banking, Credit and Debt

It is very important for athletes to develop an understanding about how banks work so that they can manage their banking to their best interest and this is what we are trying to do in this lesson. Properly managed bank accounts can reduce expenses and protect the athletes’ personal information. Making purchases on credit is a major part of everyday life to the point that it is being frequently abused and may be transformed into excessive debt which is not manageable.

By understanding ‘good’ and ‘bad’ debt athletes will be able to utilize debt when and where it best suits their overall financial plan. In this lesson we aim to present the basic banking operations that most closely relate to your needs and discuss the different banking risks associated with credit, debt, and credit history. Moreover, this lesson discusses the risks of loans and being in debt, as well as presents ways of keeping debt under control.

Topic: Financial & Life Skills Program
Module: 5