The Winning Playbook: A Spending Plan Every Athlete Should Follow

April 18, 2025

Budgeting
The Winning Playbook: A Spending Plan Every Athlete Should Follow

If you're an athlete, success isn't just about what happens on the field, in the pool, or on the court; it's also about making smart moves off of it. One of the most overlooked aspects of an athlete's career, whether in college or the pros, is financial planning. Many athletes receive scholarships, stipends, or even salaries, but without a plan, that money can disappear faster than a sprinter out of the blocks.


So, what's the best approach? It starts with a simple, effective spending plan designed to help athletes manage their money wisely, avoid debt, and set themselves up for long-term success. Let's break it down into three key steps:


1. Check Your Stats: Know Your Money Situation


Just like reviewing game film, you need to know where you stand financially. The first step in any financial plan is understanding your income and expenses.


For a college athlete, your income might include:


  • Monthly stipend or scholarship benefits
  • Part-time job income
  • Refund checks from student loans
  • NIL (Name, Image, and Likeness) earnings
  • Help from family

    • Now, look at your expenses:


  • Rent or dorm costs
  • Groceries and meal plans
  • Transportation (gas, rideshares, flights)
  • Phone, subscriptions, and entertainment
  • Loan payments or credit card debt

    • Once you have a clear picture of what's coming in and what's going out, you can move to the next step: building a plan. To help check your stats, you can use our free-to-use app.


    2. Create Your Plan: Emphasis on YOUR Plan


    A good coach wouldn't send a team onto the field without a strategy. Likewise, an athlete shouldn't manage money without a plan. A simple way to break it down is using a percentage-based budget:


  • Start with minimum expenses
  • Decide what you want to do with the rest
  • Give, Save (Invest), or Spend

    • For example, if your monthly income is $2,000:


    List out minimum expenses in dollar amounts:


  • Rent: $700
  • Food: $200
  • Gas: $100
  • Other: $200
  • Total: $1,200

    • Then YOU decide what to do with the excess ($800):


  • Give
  • Save (or invest)
  • Spend

    • You could ball out and spend everything, or you could save it all… it is your decision to make.


    3. Commit to Your Plan: Where Most People Fail


    A great athlete doesn't just train once and expect to dominate. They commit to consistent practice and make adjustments as needed. The same applies to financial planning.


  • Track Your Spending: Apps like the Locker Room Finance App, or if you're a spreadsheet person, or you have something else that works well for you.
  • Avoid Lifestyle Creep: When you start earning more (NIL deals, pro contracts, sponsorships), don't fall into the trap of increasing your spending just because you can.
  • Have an Emergency Fund: Life happens…injuries, unexpected expenses, or changes in income. A cushion of at least 3-6 months of expenses can keep you from financial trouble. So, take your minimum expense we figured out in step 2, multiply that by 3, and make sure to have at least that much saved.
  • Think Long-Term: Even if you have dreams of going pro, the average athletic career is very short. Set money aside for post-sports life. Whether that's further education, business ventures, or simply financial security.

    • Final Whistle: Your Money, Your Future


    Athletes train their bodies and minds every day to be the best. Financial discipline should be no different. Having a solid spending plan isn't about restricting yourself, it's about giving yourself the freedom to focus on your sport, knowing you have a financial game plan in place.


    Start today: check your stats, create your plan, and commit to it. Your future self will thank you.

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