In sports, there’s a clear line between practice and game day.
Practice is where you grind. It’s early mornings, long reps, lifting, learning, studying film, and doing the unglamorous work that no one applauds. Game day, on the other hand, is the big moment. The crowd is watching. The lights are bright. Every move is magnified. And how you perform on game day is a direct reflection of what you did—or didn’t do—during practice.
That same contrast exists in your financial life.
Right now, you may be living in your “practice” season financially. You’re a college athlete, managing NIL income, maybe seeing a few checks for the first time in your life. It’s exciting. But the truth is, this is the phase where you lay the foundation. The habits, the decisions, and the systems you put in place today are going to show up—loud and clear—on your financial game day.
And make no mistake: game day is coming. It could be when you graduate. It could be your first job, your first major purchase, or when you realize you want to invest in something meaningful. It could even be ten years from now, when you’re looking back and saying, “I’m glad I handled my business when I had the chance.”
So how do you make the most of your financial practice season? What needs to happen today so that future you can perform under pressure?
Here’s the game plan.
1. Establish the Right Mindset
Start by understanding that money is a tool, not a trophy. Just like athletic success, financial success comes from consistency, discipline, and long-term thinking. You don’t need to be perfect—you just need to be intentional.
This is your time to learn, not to impress. Don’t fall into the trap of flexing your NIL income just because others are watching. Think about how your current decisions will either help or hurt your future.
Ask yourself: “Will future me thank me for this?”
If the answer is no, don’t do it.
2. Master the Basics of Budgeting
Budgeting is the financial equivalent of knowing the playbook. If you don’t know where your money is going, you’re just freelancing—and freelancing leads to fumbles.
Create a simple plan:
Track how much you’re earning from NIL deals.
Calculate your expenses—both fixed (like rent or tuition) and variable (like food or entertainment).
Allocate a percentage of your income to savings and investments.
Don’t wait until you’re in a financial crunch to start managing your money. Practice now, while the stakes are lower.
3. Build an Emergency Fund
In sports, you train for worst-case scenarios—what happens if the other team blitzes or your top player gets hurt?
Financially, you need to do the same.
Set aside money in a separate savings account for unexpected expenses—whether it’s a car repair, a flight home, or losing an NIL deal. Having this fund gives you breathing room and protects you from financial setbacks.
Future you won’t have to panic when life throws a curveball.
4. Understand Taxes and Set Money Aside
Many athletes forget that NIL income is taxed. There’s no employer automatically taking money out for you. That means if you spend everything you make, you’ll owe a chunk come tax season—with no way to pay it.
Treat your taxes like a non-negotiable. Every time you get paid, set aside 25 to 30 percent of it in a separate savings account.
That’s what smart financial practice looks like.
5. Begin Investing Early
Starting small is better than starting late. You don’t need thousands of dollars to invest. Even $50 or $100 a month can grow significantly over time thanks to compound interest.
This is where future you—game day you—will really benefit.
Use a Roth IRA if you qualify. It grows tax-free and can become a powerful wealth-building tool. Even a small investment now can mean tens of thousands—or more—later.
Investing isn’t about timing the market. It’s about time in the market.
6. Protect Your Credit
Your credit score is your financial scouting report. It determines whether you can buy a car, rent an apartment, or qualify for a mortgage down the road.
Use a student-friendly credit card wisely. Pay it off in full each month. Don’t max it out. Don’t miss payments.
Practicing good credit habits today means game day you won’t be sidelined by high interest rates or loan denials.
7. Get Educated and Ask Questions
You wouldn’t run a play you didn’t understand. The same applies to your money.
Take the time to learn about basic financial topics: how checking and savings accounts work, what interest is, how taxes apply to self-employed individuals, and how to read a contract.
Ask questions. Talk to trusted mentors. Read up. If you don’t understand something, don’t pretend you do. Your financial practice is the time to learn so that you can execute confidently when it counts.
8. Surround Yourself with the Right Team
No one wins alone—not in sports and not in life.
Build a team of professionals you trust: a financial advisor, a CPA who understands NIL, possibly even an attorney to help with contracts. These people can help you avoid costly mistakes and make sure you’re playing the long game.
Just like a great coach brings out the best in you on the field, the right financial team brings out the best in your wealth journey.
Conclusion: Game Day Starts Today
The truth is, you don’t become financially successful the moment you graduate, sign a big deal, or cash your first major check. You become successful by practicing smart habits every day. By budgeting. By investing. By saying “no” to things that don’t align with your goals. By educating yourself.
Your financial game day is coming—and whether you win or lose will depend entirely on the way you practiced.
Don’t just train your body. Train your mindset. Train your wallet. Train your future.
Because when game day arrives, future you deserves to win.
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Learn more and take control of your financial NIL journey at www.FinancialLiteracyForNIL.com.