I see it all the time—the urge to flex, post, and build a money-focused persona, especially when the cash flow isn’t quite there. I call it ‘living a lie’: you show off the new car, the stylish crib, or the fresh wardrobe, but behind the scenes, you might be battling debt or barely keeping up with that image. As athletes, we’re used to the spotlight, and there’s a pull to maintain a certain look or lifestyle, sometimes just to keep up appearances. But if you’re feeling uneasy about what’s really in your bank account or ready to make a change, it’s time to get real with yourself. Here are six questions to help you understand your spending habits and build a healthier balance between your money and your ego.
Money and Ego: 6 Questions to Improve Balance
Why do I feel the need to spend more to appear successful? Living in the public eye, athletes may feel pressure to project an image of success and financial abundance. However, this need for social validation can quickly spiral into overspending. Ask yourself: “Am I spending to meet my own needs, or to satisfy a perceived expectation of how an athlete should live?” Realizing the difference can help release the grip of “keeping up with the Jones’s” and help you on a path to financial authenticity
Am I buying things to impress others or to fulfill my own needs? Sometimes, the motivation behind purchases is more about keeping up appearances than personal satisfaction. Reflecting on this can be eye-opening. Are you investing in things you genuinely value, or is it about “fitting in” with a specific crowd? By asking this question, athletes can begin to direct their finances toward what truly matters—whether that’s saving for the future, supporting family, or nurturing personal interests. When spending reflects personal values rather than social pressures, it leads to lasting contentment
How can I be content with less? The desire for continual upgrades and luxury items can often mask deeper insecurities or a lack of fulfillment. As athletes transition into different stages of life, focusing on relationships, personal growth, and experiences can offer a more sustainable path to happiness. If this sounds like you, consider asking yourself “How can I shift my priorities to focus on what truly brings joy?”
Why do I feel shame around budgeting or saying ‘no’ to things I can’t afford? In a society that often equates budgeting with scarcity, there can be a stigma around setting limits. Many athletes may feel embarrassed to admit they can’t afford certain things, fearing it reflects poorly on their success. However, budgeting is not about scarcity—it’s about control and security. Understanding that financial boundaries are empowering can transform the narrative, making it easier to say “no” when necessary and avoid debt that might otherwise accumulate out of a desire to please others
How can I reframe financial stability as a personal victory? Athletes thrive on setting goals and achieving them, but sometimes financial stability is overlooked as an accomplishment. By framing money management as a challenge to tackle with discipline and strategy, athletes can view budgeting, saving, and investing as personal victories rather than restrictions. Celebrating financial achievements, like paying off a debt or reaching a savings goal, can bring the same sense of satisfaction as a win on the field, reinforcing positive spending habits.
What kind of legacy do I want to build? Taking a step back and thinking how you want to be remembered might help put things in perspective. Athletes often leave a legacy in their sport, but building a financial legacy can be just as impactful. Reflecting on the kind of life they want to create—one where they’re financially stable and able to support causes they care about—can motivate athletes to make wise financial choices. Having a purpose behind spending makes each dollar feel purposeful, whether it’s investing in family, giving back to the community, or preparing for future generations.
Incorporating these questions into daily financial decisions can help you move beyond ego-driven spending, allowing you to focus on meaningful financial goals and a fulfilling life after sports. Financial well-being isn’t just about numbers; it’s a mindset, one where anybody can find pride in financial security as a key part of their legacy.