By Lise-Marie Maire, The Sports Financial Literacy Academy
For athletes, the off-season is often a time for physical recovery, mental reset, and strategic planning. But one area that often gets overlooked during this downtime is financial health. Specifically, how to manage a reduced income when games, tournaments, or competitions are on pause.
Unlike traditional careers with consistent monthly paychecks, athletic income can be seasonal and inconsistent. Contracts, endorsements, appearance fees, and performance bonuses often spike during the competitive season, then slow down significantly. Or stop altogether, in the off-season. That’s why it’s crucial to adjust your budget accordingly to stay financially stable year-round.
Understand your off-season reality
Start by reviewing your income timeline for the year. Identify when your income will drop and for how long. This will help you prepare a realistic off-season budget that reflects your actual resources, not your peak-season earnings.
- Separate needs from wants
Off-season budgeting starts with distinguishing between essential and non-essential expenses.
- Needs: Rent/mortgage, utilities, groceries, insurance, transportation.
- Wants: Luxury purchases, travel, entertainment, subscription services.
Cutting back temporarily on wants doesn’t mean depriving yourself. It means making smart choices to preserve long-term financial stability.
- Create a variable income budget
Use your peak-season income to create a rolling budget that includes months when income will be lower.
- Save more during peak months.
- Spread that income across the entire year.
- Use a budgeting app or spreadsheet to project monthly needs and create a safety cushion.
This approach helps you simulate a steady paycheck even when your income is seasonal.
- Lower your fixed costs
Consider trimming recurring expenses:
- Negotiate lower bills (e.g., phone, internet, car insurance).
- Pause memberships or services you don’t use in the off-season.
- Downsize if necessary—especially housing or car upgrades.
Every small adjustment helps stretch your savings further during income gaps.
- Build and use an emergency fund
An emergency fund is your financial safety net—especially during the off-season.
- Aim for 6–12 months of living expenses saved.
- Replenish the fund during peak season.
- Only dip into it for true emergencies (not for lifestyle upgrades).
This fund ensures peace of mind during unpredictable periods.
- Explore side income opportunities
Many athletes use the off-season to pursue side hustles or business opportunities that align with their interests:
- Coaching or mentoring
- Social media partnerships
- Investing in real estate or businesses (https://moneysmartathlete.com/generating-income-streams-beyond-athletic-salaries/athletes-building-passive-income-through-investments/)
- Speaking engagements or brand collaborations
Not only can these boost income, but they also set the stage for a smooth post-career transition.
- Work with a financial advisor
Your off-season is the perfect time to schedule a financial check-in with your advisor. Together, you can:
- Review your spending plan
- Adjust investment strategies
- Prepare for upcoming tax obligations
- Reassess your long-term financial goals
Having a trusted professional on your side makes navigating seasonal income easier and smarter.
Final thoughts
The off-season may be a break from the spotlight, but it’s also your golden opportunity to get ahead financially. By adjusting your budget, cutting unnecessary expenses, and planning with intention, you can maintain strong financial health. Even when your income slows down.
Financial discipline in the off-season = financial freedom in the long run.
The Money Smart Athlete® Blog is established and run by the Sports Financial Literacy Academy® (SFLA). Through its education programs, the SFLA has the vision to financially educate and empower athletes of all ages to become better people, not just better athletes. For more information on our courses, our SFLA Approved Trainer Program®, and how they can benefit you and your clients, please get in touch with us at [email protected].