How do I look after my finances?
Key Learnings
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Financial planning is important for everyone but especially for professional athletes as their playing career tends to be relatively short and unstable due to the risk of injuries.
Professional athletes are likely to enjoy peak earning and make 50-75% of their lifetime earnings before age 35.
Financial planning can be complicated. It is important to turn to a professional for financial advice; choosing the right people to advise you could be the difference between growing your wealth and losing everything.
Creating a budget and monitoring it at regular intervals will help you remain financially stable.
Stay out of financial trouble by being careful about your spending and ensuring you are aware of the risks of gambling and illegal sports betting.

Warning signs

There are a number of signs that point to problem gambling. If you recognise these signs, it is a good idea to talk to your doctor or another person that you trust to avoid gambling causing (further) problems in your life.

  • Being preoccupied with gambling – constant thoughts of gambling or getting money to gamble
  • Becoming defensive when confronted with gambling habits and lying about the extent of habits
  • Borrowing money using financial aid money or other needed money to gambling
  • Missing training sessions and other important events because of gambling
  • Being restless or irritable when not gambling
  • “Chasing” losses with more gambling – trying to salvage losses by gambling more
  • Increasing bet amounts when gambling in order to achieve the desired excitement
  • Unsuccessful attempts to control, cut back or stop gambling
  • Arguments with friends, coaches, significant others and family about gambling activity
  • Neglecting Responsibilities to engage in gambling activities