Imagine winning a million dollar contract like your favourite pro athlete and then blowing it all in one season. Believe it or not, this happens all too often and as teens we can learn a lot about managing money from pro athletes. In this post, I will break down how to budget money like a pro athlete even if it is your weekly allowance or part time job.

Often, many athletes fo broke within a few years of retiring. This is due to overspending, and lack of planning. Not to mention bad investments. Take goalkeeper David Jones who was a Premeier League Star and landed in financial trouble after some risky business ventures. On a smaller scale, some money traps for teens include clothes, gaming and gadgets. It’s way too purchase many items with access to money but this can be a slippery slope as highlighted by many athletes who have recieved large contracts.

The bottom line is know your income and budget. Track spending using apps like Sit or a simple Note list. Setting goals in the short term such as buying a jersey versus long term goals is important. Lastly, we can’t forget to reward ourselves just like a pro after a win.

So whether you’re playing on the field or managing your finances, we know that discipline wins. The earlier you can build smart money habits the sooner you will feel like a pro!