LIA and Sport Ireland Institute partner to deliver Smart Money Habits

LIA and Sport Ireland Institute partner to deliver Smart Money Habits

Boxer Aoife O’Rourke; runner Ciara Mageean; boxer Lisa O’Rourke, with Dr Una May, CEO, Sport Ireland, and Joanne Keane, CEO and Executive Director of LIA, announcing details of Smart Money Habits, a partnership between LIA and Sport Ireland Institute. Picture: ©INPHO/Bryan KeaneLD

LIA, the centre of excellence for the education and development of finance professionals, has announced details of a partnership with Sport Ireland Institute, that will see them deliver a financial well-being programme to Olympic and Paralympic athletes at all stages of their sporting careers.

The ‘Smart Money Habits’ programme was initially developed by LIA in collaboration with Rugby Players Ireland, and following its success with elite rugby players, LIA sought to expand the reach of the programme to other sporting bodies and is delighted to announce this partnership with Sport Ireland Institute.

Sport Ireland Institute was set up to create an environment which influences, supports and ensures that talented Irish athletes will achieve sustained levels of excellence in elite sport.

The Institute coordinates a network of highly experienced, quality-assured service providers to help support this high-performance environment ensuring that sports have access to the sports science, medicine and life skills supports that they need.

In particular, Sport Ireland Institute’s Performance Life Skills service looks at two key components of an athlete — the performance environment around them, and the personal skills needed to operate effectively as a high-performance athlete.

One of the everyday demands faced by athletes at every level is managing their personal finances in an effective way. While elite athletes are becoming increasingly savvy when it comes to managing their money, recognising the need to balance intense training schedules with the necessity to protect and build on the capital they accumulate is essential.

To that end, in consultation with the Performance Life Skills team from Sport Ireland Institute, LIA will deliver ‘Smart Money Habits’ to help current, and up and coming, as well as retired athletes, face the financial challenges they typically encounter throughout their careers.

The programme forms part of the Performance Life Skills coaches’ work with athletes to develop and enhance their personal performance management skills to ensure that their training and recovery are optimised; and that their athletic life is balanced with other activities and demands.

The LIA-delivered programme will cover various aspects of financial planning, from investments to pension planning, contracts and retirement, and address other financial challenges that individuals working in their sports typically encounter. The syllabus currently comprises five modules including Money Goals and Budgeting; Understanding your Payslip; Loans, Credit Cards and Mortgages; Savings and Investment Goals; and Pensions.

Speaking at the announcement of the partnership with LIA, Dr Una May, CEO, of Sport Ireland, said: “Sport Ireland Institute supports athletes from Olympic and Paralympic sports.; Everyone from our medal-winning heroes and elite carded athletes, to those in the junior and pathway groups, will benefit from the ‘Smart Money Habits’ programme.”

Joanne Keane, CEO and Executive Director of LIA, said: “This jointly-developed programme will be available to all Olympic and Paralympic athletes, from younger ones starting out in their career to those approaching retirement, and we are proud to play a part in educating athletes across Ireland on topics that will stand to them many years from now.”

For more information about LIA visit www.lia.ie, and to find out about the work of Sport Ireland Institute, visit https://www.sportireland.ie/institute.

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