The Gaelic Players Association (GPA) and LIA, the leading organisation in the education and development of financial advice and planning professionals, has today announced the launch of its successful ‘Smart Money Habits’ financial wellbeing programme. This new collaboration will see the programme made available to 4,000 GPA members, enhancing financial literacy across multiple key areas.
Originally developed by LIA in collaboration with Rugby Players Ireland, ‘Smart Money Habits’ has already demonstrated its value in supporting elite rugby players in managing their personal finances. Following its success, LIA expanded the programme with Sport Ireland Institute, which saw them deliver a financial wellbeing programme to Olympic and Paralympic athletes at all stages of their sporting careers.
Now the programme has been tailored to deliver a bespoke offering to elite inter-county Gaelic athletes. The content has been developed and is presented by All-Ireland winning players Seán Cavanagh (Tyrone) and Darach Honan (Clare) and is hosted on the LIA’s platform. It comes in the form of six fully online modules all specifically designed around inter-county athletes and can be completed at the learner’s own pace. The topics covered are
- Budgeting and Managing money
- Mortgages
- Investments
- Pensions
- Income Protection
- Managing Debt
The goal is that the programme will help players better navigate their financial responsibilities alongside their busy sporting schedules.
The GPA is committed to promoting and protecting all aspects of player welfare, ensuring its members have access to essential resources. One of the key challenges faced by players is managing their personal finances effectively. While athletes are becoming increasingly financially aware, balancing intense training schedules with financial security remains a crucial issue. The LIA-delivered programme will provide players with expert guidance on financial planning, covering critical topics such as investments, pension planning, and managing debt, as well as addressing the unique financial challenges faced by elite amateur athletes.
A recent Indecon Report commissioned by the GPA highlights the significant economic contribution of inter-county players, revealing that they generate a total economic impact of €591 million annually. However, despite their immense dedication to the sport, individual players incur an average net expense loss of €4,602 per year to participate at the inter-county level. This financial burden further underscores the need for tailored financial education and support to ensure players can manage their financial commitments effectively.
Many inter-county Gaelic footballers and hurlers not only dedicate themselves to the demands of elite-level sport but also maintain professional careers in various industries, from education and finance to healthcare and business. This dual responsibility makes financial literacy even more crucial, as players must effectively manage their earnings, pensions, and investments while balancing their athletic and professional commitments. By participating in the ‘Smart Money Habits’ programme, players will gain valuable insights that extend beyond their sporting life, equipping them with essential financial planning skills that will serve them throughout their professional lives.
The launch of this initiative follows a recent LIA survey highlighting significant concerns about financial preparedness and retirement planning among individuals across Ireland. The research revealed that nearly half (48%) of respondents feel unprepared for their financial future, with 43% struggling to ‘make ends meet.’ Furthermore, financial stress is taking a serious toll on mental health, with 81% of respondents stating that their financial situation negatively impacts their well-being. Alarmingly, only 42% of individuals approaching retirement feel confident in their financial position.
Joanne Keane, CEO of LIA, welcomed the partnership, stating:“We are delighted to extend our ‘Smart Money Habits’ programme to the Gaelic Players Association, furthering our mission to enhance financial literacy and wellbeing among athletes. Managing finances effectively is a crucial life skill, and through this partnership, we aim to equip GPA members with the knowledge and tools they need to secure their financial future.”
Tom Parsons, CEO of the GPA, added,“Our members dedicate themselves to their sport, but financial security remains a significant concern for many. Partnering with LIA to deliver the Smart Money Habits programme allows us to provide vital support in this area, ensuring our members have the financial confidence to plan for their futures while pursuing their sporting ambitions.”
This collaboration marks a significant step in advancing financial education for elite athletes, reinforcing the importance of financial wellbeing as a key pillar of player welfare.
