STUDENT ATHLETESLIFESTYLE & TRAVEL

Smart Summer Money Moves for Student-Athletes

Summer can be a season of opportunity or a season of overspending. For student-athletes, it’s a valuable time to focus — not only on training and recovery, but also on financial health. Whether you’re working a part-time job, attending camps, or simply enjoying a break from your regular schedule, read on to learn a few money tips to help you make the most of your summer.

Set a Summer Budget

Without the structure of a set schedule, it’s easy to lose track of spending. Create a simple budget that accounts for essentials like rent, food and travel. Set limits for entertainment and extras. Use free apps or a spreadsheet to track your money.

Prioritize Saving

If you’re earning money this summer through a job, NIL deals or stipends, make saving a priority. Aim to save at least 20% of your income. This cushion can support unexpected expenses during the school year or help you avoid debt.

Understand NIL Income

If you’re earning money from name, image and likeness (NIL) opportunities, remember your income and any gifts you receive are likely taxable. Keep detailed records and consider setting aside money now, so you’re prepared when the tax season rolls around. It may be smart to talk with a tax advisor or use online tools to estimate what you owe ahead of time.

Build or Strengthen Credit

If you’re ready, consider applying for a student-friendly credit card or becoming an authorized user on a family member’s account. Remember to use your credit card wisely by paying it off in full each month to build a positive credit history. Using a credit card can help you set yourself up for future financial success.

Don’t Forget Long-Term Goals

It might seem far away, but graduation and life after sports can come quickly. Use this summer to think about your long-term financial goals. Whether it’s paying off student loans early, saving for a car, investing or building an emergency fund, small steps now often lead to big wins later.

Your time, energy and effort are valuable both inside and outside of the game. By making intentional financial choices this summer, you can set yourself up for success long after the season and college ends.