Money Smart Athlete Blog


Athletes & Financial Psychology

Athletes, Money and Mental Health: Addressing the Psychological Toll of Financial Challenges

Money is a big deal in our lives, isn't it? We use it to buy groceries, pay rent, and maybe even treat ourselves to something nice once in a while. But when money gets tight, it can mess with our heads. While most of us face financial challenges at some point, it's essential to realize that even professional sports athletes are not immune to these struggles.

Athletes & Financial Psychology

The Psychology of Overspending: Common Money Pitfalls for Athletes

An athlete’s emotional state is often influenced from many factors outside the playing field. Effectively handling one’s personal finances is a major factor for maintaining emotional stability especially because the contrary can lead to negative psychological effects.  While an athlete’s success on the field may yield considerable earnings from a young age, these financial gains present their own set of challenges when it comes to managing them.  When money is flowing in, season after season, it sort of becomes the norm for the athlete and leads to the belief that it will never stop flowing in. As a result, athletes may resort to reckless spending, without any plan or thought for the future.