NFL Players Association Broadens Financial Literacy Program

The financial education community is buzzing over the recent announcement by the NFL Players Association (NFLPA) that it will widen its financial literacy initiative targeting players and former players.  Among the new elements of the program will be an unbiased Financial Helpline service to assist them in making key financial decisions, as well as offering advice and guidance regarding their current financial portfolios overseen by financial advisors.

The initial program to be expanded is based on the 2009 partnership between NFLPA and Financial Finesse, a leading provider of workplace financial literacy offerings, focused on developing customized online financial education services for NFL players and their families.  The program has since earned numerous awards, including a Signature Award from the Plan Sponsor Council of America and a Superstars and Innovator Awards from The Institute for HealthCare Consumerism.

More than 1,000 players have participated in the program, with 48% saving at least 20% of their annual earnings.  Dana Hammonds, Director of Player Affairs and Development, noted that NFLPA wants “players to have the ongoing support they need to make solid financial decisions for themselves and their families.  The Financial Helpline is our next step in this ongoing mission to reach players by providing them with direct access to an expert they know they can trust in a convenient way to get answers to tough financial questions and make more informed decisions that impact their futures.”

We applaud the efforts of NFLPA and Financial Finesse in continuing to raise the level of financial literacy among professional athletes and others.