Effects of Financial Planning Skills on Long Term Financial Performance of Athletes of Elgeyo Marakwet County, Kenya

Abstract

The specific objective of the study was to determine effects of financial planning skills on long term financial performance of athletes of Elgeyo Marakwet County, Kenya. The study provides strategies to enable athletes to plan, budget and visualize the future during their prime time of career and avoid woes that have trapped many retired athletes. Although planning can be approached differently by small business as compared to huge ones, the fact is that, planning must be exercised. For the purpose of this study, survey research was used. Study findings revealed that majority of respondents had poor financial planning skills and therefore the researcher concludes that the athletes should be trained on this to save the situation and future regrets.