The introduction of Name, Image, and Likeness (NIL) opportunities has opened new financial doors for student-athletes.However, with these opportunities come responsibilities. Here's how to manage your earnings wisely:​NerdWallet: Finance smarter+9AP News+9PBMare

• Understand Your Tax Obligations: NIL earnings are taxable. It's crucial to set aside a portion of your income for taxes to avoid unexpected liabilities. ​mgocpa.com
• Budgeting: Create a budget to track your income and expenses. This ensures you live within your means and can plan for future financial goals.​
• Seek Professional Advice: Consult with financial advisors experienced in NIL regulations to help you make informed decisions. ​

Existing Article for Reference:

• "7 Smart Financial Moves For College Athletes Navigating NIL Deals" This article offers insights into budgeting, understanding contracts, managing debt, investing, and planning for retirement. ​Forbes+1Ark Royal Wealth Management+1