Learn how to manage, save, and grow your NIL income—so you're set for life, not just college.
The Harsh Reality:
78% of NFL players
go broke within 3 years of retirement. Don't be a statistic.
Financial education designed specifically for NIL athletes
A budget isn't about restricting yourself—it's about controlling your money instead of your money controlling you.
Essential expenses
Lifestyle & fun
Future you will thank you
For Athletes: Consider 50/20/30 instead—flip wants/savings to prioritize your future
Result: You save $5,040/year + $10,800 for taxes. After 4 years of college = $20,160 saved + no tax surprises!
Best for: Zero-based budgeting, being intentional with every dollar
$14.99/monthBest for: Auto-tracking, seeing all accounts in one place
FREEBest for: Simple "how much can I spend today?" view
Free + PremiumBest for: Athletes—auto-saves 30% for taxes, categorizes NIL income
Built-inPay Yourself First
Move 20% to savings IMMEDIATELY when NIL money hits your account
Use Separate Accounts
1 for spending, 1 for savings, 1 for taxes—makes budgeting automatic
Review Weekly
Spend 10 minutes every Sunday checking your budget—catch leaks early
Track Every Dollar for 30 Days
You'll be shocked where money goes—$5 coffees add up to $150/month
Plan for Irregular Income
NIL isn't a salary—budget based on lowest expected monthly income
Use GamePlan Card's automatic budgeting features designed for NIL athletes
Get GamePlan CardTaxes are your biggest expense as a self-employed athlete. Plan smart and keep thousands more in your pocket.
| If You Earn... | You'll Owe... | Set Aside |
|---|---|---|
| $5,000 | ~$1,400 | 28% |
| $10,000 | ~$2,900 | 29% |
| $25,000 | ~$7,700 | 31% |
| $50,000 | ~$16,500 | 33% |
| $100,000 | ~$35,000 | 35% |
*Estimates include Federal + Self-Employment + average State tax. Always consult a CPA for exact calculations.
Every time NIL money hits your account, immediately transfer 30% to a separate savings account. Treat it like it's already gone—because it is (the IRS owns it).
$1,000 NIL payment → Move $300 to "Tax Savings" account → Spend/save the remaining $700
These business expenses LOWER your taxable income (save receipts!):
These DON'T count—don't try to write them off:
IRS audits happen! Only deduct legitimate business expenses with proof.
If you earn $1,000+ in NIL income, the IRS requires you to pay taxes quarterly (not just at year-end). Miss these and you'll owe penalties.
Q1 Payment
(Jan-Mar earnings)
Q2 Payment
(Apr-May earnings)
Q3 Payment
(Jun-Aug earnings)
Q4 Payment
(Sep-Dec earnings)
GamePlan Card: We calculate and remind you of quarterly tax deadlines automatically
Cost of CPA ($500) vs. Cost of tax mistakes ($2,000+ in penalties) = Worth it at high earnings
Your athletic career has an expiration date. Building wealth ensures you're set for life, not just college.
Covers minor emergencies (car repair, phone)
1 month of expenses—breathe easier
3-6 months expenses—ultimate security
Why This Matters for Athletes:
Your regular bank's savings account
Easy access
FDIC insured
Basically earns nothing
Online banks (Marcus, Ally, Capital One 360)
50-500x more interest
FDIC insured
Still easy access
Hybrid checking/savings account
High interest
Can write checks
Often requires $2,500+ minimum
Pro Tip: If your savings is earning less than 4%, you're losing money to inflation—switch to high-yield ASAP
Tax-free growth forever. Contribute up to $7,000/year. Best first investment account.
Own a piece of 500 biggest companies. Historically 10% annual return. Set it and forget it.
Automatically adjusts risk as you age. Easiest hands-off option.
If you invest $200/month starting at age 20:
at age 65 (10% annual return)
If you wait until age 30 to start:
at age 65 (same $200/month)
Starting 10 years earlier = $728K more (same effort!)
Unless you understand blockchain deeply, this is gambling. You can lose everything overnight.
95% of day traders lose money. Stick to index funds until you're experienced.
Speculation, not investment. Most go to $0. Don't gamble your NIL money.
"Turn $500 into $10K in 30 days!" = scam. If it sounds too good, it is.
Sold as "investment" but terrible returns. Just get term life + invest separately.
Never invest with loans or credit cards. Only invest money you actually have.
Into high-yield savings + tax account
Then never touch it unless true emergency
Start with $100-200/month in S&P 500 index fund
Your credit score determines if you can rent an apartment, buy a car, or get a business loan. Build it early, protect it fiercely.
Poor
Will struggle to get approved
Fair
High interest rates
Good
Average rates
Very Good
Better than most
Exceptional
Best rates possible
Get a Student or Secured Credit Card
Discover Student, Capital One Quicksilver Student, or secured card with $200-500 deposit
Use It for Small, Regular Purchases
Gas, groceries, Netflix—things you'd buy anyway. Charge $50-200/month max.
Pay the FULL Balance Every Month
Set up autopay. Never carry a balance. Treat it like a debit card.
Keep Utilization Under 30%
If your limit is $1,000, never have more than $300 owed at once
Be Patient—It Takes Time
6 months to get a score, 12-24 months to build good credit
Pro Tip: Check your credit report every 4 months (rotate the 3 bureaus) to catch fraud early
Learn from others' expensive mistakes—avoid these traps and you're already ahead of 90% of athletes.
The Trap: Sign first NIL deal for $10K → immediately buy new car, designer clothes, upgrade apartment, go out every night
What Happens:
Money gone in 2 months. Now stuck with expensive lifestyle you can't afford if deals dry up.
The Fix:
The Trap: Spend all your NIL money throughout the year. Tax season hits: "Wait, I owe $15,000?!"
What Happens:
Panic. Beg parents for loan. Payment plan with IRS (+ penalties). Credit card debt.
The Fix:
The Trap: "Bro, can you spot me $500?" → becomes $5,000 over time → never see that money again → relationship ruined anyway
What Happens:
You're broke. They avoid you. Awkward Thanksgivings. Resentment builds.
The Fix:
The Trap: Living paycheck-to-paycheck (deal-to-deal). Car breaks down or get injured → panic mode
What Happens:
Credit card debt. Bad deals out of desperation. Stress affects performance.
The Fix:
The Trap: Brand offers $5K → you sign immediately without reading fine print → turns out it's $5K over 2 years with 40 posts required
What Happens:
Locked into bad deal. Can't work with competitors. Effective rate = $62.50/post.
The Fix:
The Trap: All money goes into one checking account. NIL income, parents' support, birthday money, student loans all mixed together
What Happens:
Tax time = nightmare. Can't track business expenses. Miss deductions. Audit risk.
The Fix:
The Trap: First big check → buy $50K car, designer wardrobe, expensive watch. All lose value immediately.
What Happens:
Car worth $35K next year. Clothes worth nothing. You're broke with depreciating stuff.
The Fix:
The Trap: "I made $20K this year, where did it all go?" No budget, no tracking, just vibes.
What Happens:
Death by a thousand cuts. $10 here, $50 there. Nothing to show for it.
The Fix:
The Trap: "Invest in my crypto project!" "Join my trading course—make $10K/month!" "This NFT will 100x!"
What Happens:
Lose $5K+ in scams. "Promoter" disappears. You're embarrassed to admit it.
The Fix:
The Trap: "I'm young, I'll worry about money when I'm older." No plan, no strategy, just winging it.
What Happens:
Wake up at 30: No savings. Bad credit. Missed opportunities. Playing catch-up.
The Fix:
Join thousands of athletes building smart financial futures with GamePlan NIL's education, tools, and community support
Free financial literacy resources • GamePlan Card with auto-budgeting • CPA-reviewed tax guidance