A new year comes with new possibilities, opportunities as well as potential unexpected shortfalls. Therefore, athletes need to plan their finances ahead, organizing them proactively in order to stay on track with the goals and objectives they set for the new year and beyond. The only way athletes can reach their full potential is by turning these goals into reality. It all begins with identifying their current financial situation, as well as the financial position they would ideally want to be in, in order to come up with a structured plan on how to bridge this gap; fulfilling their financial goals and dreams in a way that adheres to their personal values. Organizing your finances can be simpler than you think, given that you have the discipline, dedication and flexibility required to follow through and be consistent.
This month at the Money Smart Athlete Blog, we will explore methods on how athletes can efficiently organize their finances, first by figuring out where they are financially, as well as setting financial goals; short-term, medium-term and long-term. Furthermore, we will look into the different ways through which athletes can effectively achieve their financial goals in a lifelong process. Finally, we will focus on financial distress management techniques athletes can use to get themselves out of financial trouble and turn their life around.
Athena P. Constantinou