As an athlete, you have been blessed with a great start financially.  You probably went to college for free and got all the sneakers you could dream of.  

If you played professionally, you probably made some nice money and probably spent some, too. In fact, if you are like most athletes, you probably spent too much and have very little to show for your professional career.  Live and learn.  Or, it may be that you are still in decent shape but adjusting to less income than you had grown accustomed to.

No matter what your situation, as a former athlete you still need to establish some new habits financially speaking.  These next months will determine what your long-term financial picture will look like.  Make some great decisions now and you will be set.  Make some poor choices and you will be struggling for decades. Yes, decades.  Financial stress, please note, is not compartmentalized.  Financial stress bleeds throughout your life.  It hurts your relationships.  It could cost you your marriage.

Waiting too long   The biggest mistake people in your cleats make is to wait too long to get help.  It isn’t easy to admit you’re in trouble.  But, it is imperative.   Just like when you were an athlete, as reluctant as you were to tell the trainer that you were injured, not telling him jeopardized (1) your team and (2) your entire career.  Nobody expects you to be a financial wizard.  You’re young and green and normal.   Nothing to be embarrassed about.  The smartest move you can make is to admit you’re struggling and to get help as fast as you can.  Don’t dilly dally.  

Choosing a financial counselor   There of plenty of people that can help you.  You can go to a professional counselor, a financial advisor, or to a trusted older friend that will hold your hand.  Avoid counselors that you see on TV commercials or in online ads.  They are probably scams.  Also avoid anything that talks about debt consolidation.  That’s never a good idea.  Don’t go to your buddy, cousin or pal for this help.  Get someone older that you trust and respect.

Get on top of this now and you will be back in good shape in no time!