June – The Best Summer Money Can’t Buy
Dear Fellow Former Players & Friends,
Ah, yes. Longer days and warmer weather can only mean one thing: Summer is finally here! Time to kick back and relax. But not too fast, don’t let Summer lull your finances to sleep.
Summer overspending is a real danger that lurks in some of the most tempting places. Dining out, family vacation, updating your summer wardrobe and overspending to entertain the kids can destroy your monthly budget if you don’t safeguard against excess indulgence. Many of us never learned how to manage money and live in an ongoing state of emergency. Managing your money within a monthly budget is an active process that requires attention.
If you assume your financial future is set, you are potentially setting yourself up for a devastating reality check. There are always big expenses looming: car repairs, tuition and other unplanned emergencies. It’s Murphy’s Law that something will go wrong.
And if you fall behind, the avoidance of your financial commitments brings with it depression and low self-esteem. A vicious circle that contributes to falling even further behind.
Mark my words, you can have the best summer of your life without breaking the bank-or your budget.
Get smart. Plan ahead. Resist sinking into an easy pattern of going out for dinner every night. Plan backyard barbecues with your neighbors, or picnics with friends you’ve lost touch with, trips to the library with your kids, or day trips to the beach and waterpark for some quality family time.
As players finding financial stability is our goal, we are dedicated to help you have the most fun summer of your life. All month long we will provide articles to help you find activities that will maximize your physical, mental and social health while keeping your finances stronger than ever.
Don’t let Summer ‘Flossing’ and Keeping Up with the Jones’ get you off track.
Now…back to that grill and iced tea on the patio.
Andre Collins
Executive Director
Professional Athletes Foundation
NFL Player 1990-1999