Follow The Money
No matter where you are in your professional career, you’ve
probably found yourself in the midst of a budget crisis at
least once or twice. Perhaps when you signed your first contract
there was not enough money to buy the car that you really
wanted. Or maybe you overspent during the season and didn’t
have enough to get you through the offseason. Whatever the
reasons that caused it, a budget crisis can create unnerving
and sometimes embarrassing situations.
Budgeting is the one truly controllable aspect of your long-term
financial plan. You cannot control whether you get sick or
injured (aside from keeping yourself as healthy as possible).
Nor do you have any control over the returns you get on your
investment portfolio. When you budget your money, however,
you can decide how much of your paycheck you will spend.
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