Amobi Okugo #5 of Orlando City SC during an MLS soccer match in Orlando, Florida.in a bid to get a college scholarship. Then in 2010, at the age of 18, Okugo signed on to play professionally for Major League Soccer's Philadelphia Union.
"I wanted to find athletes that I could look up to for being smart with their money," says Okugo, who is now a midfielder and defender for Austin Bold FC, a team in the USL Championship league. "And what I kept finding were, 'This guy lost all his money. This lady lost all her money. This financial advisor scammed these athletes.'"as a resource to help other professional sports players and to inspire others to learn more about personal finance.1.
One injury and your career could be done in an instant. You have to take what you have in hand and act as if it's going to be your last contract.Okugo makes enough to fund a pretty lavish lifestyle—in his top-earning year as an MLS player, according to Spotrac.com, his guaranteed salary was $325,000. But he has taken a long view, keeping his recurring expenses in check and watching his budget to make sure he doesn't overspend on optional expenses like ride-sharing.
Whether you have a contract or just a paycheck, that's a smart move. Forget about keeping up with the Joneses and focus on your own future. The next time you get a raise or a bonus, set aside some for a celebration but think about using most of it to better your financial situation—likeCreating A Frugal Athlete, which was both a passion project and a potential side hustle, took a lot of planning.
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