2.3 Or 2.3.3 Financial Literacy

Financial Literacy

Footballers need a firm understanding of their personal finances

Earning an inflated percentage of your lifetime income over a short period of time can lead to a false sense of financial security, an issue faced by many players. Financial literacy is a crucial skill for footballers, allowing them to manage their short-term earnings in a way that will support them in the years to come with minimal risk to their savings.

What you should know

Control over finances is essential for a balanced lifestyle

Correct management of player’s livelihood is not just essential for the individual, but in many cases those who are financially dependent on them. For this reason, FIFPRO believes that education and awareness of money matters should be a core component of a players’ development.

All players should plan for their financial futures

Making informed decisions about money and savings before retirement can protect players from financial difficulties later in life. As well as being educated on responsible spending, they should have the tools to seek trusted expert advice when required.

Player earning curve is unique

The player earning curve is unique and most players might never earn as much as they did as a professional player no matter how well they prepared for their life afterwards.

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Financial Literacy Player story

Luis Alejandro Paz: the Colombian footballer who gives financial advice to his coach

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