Money has always played a role in youth sports, from club fees and private lessons to travel costs and college scholarships. But as athletes gain access to name, image and likeness (NIL) income at increasingly younger ages, financial decisions are becoming part of the mental game, as well.
Tom Henske, a former two-time All-American and three-time national champion at the University of Virginia who now teaches personal finance, said young athletes often receive money before they have learned how to manage it. NIL opportunities, once concentrated among college stars, are spreading across sports and even reaching high school athletes.
That can create a new source of stress. According to Henske, athletes who have some financial education are more likely to “master the pause” before spending. Making thoughtful decisions can boost confidence. But athletes who spend impulsively may experience regret and guilt—and those emotions do not necessarily stay off the playing field.
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