Money Makeover: Freestyle Skier
May 4th, 2006 No Comments » | POSTED BY ROB
There’s a money makeover in the Independent which gives details of a 29-year old freestyle skier. In order to continue competitive skiing, he needs to get some sponsorship, to help pay for training and travel costs.
But it’s probably just as important for him to get his finances in order, as he has debts totalling more than £14,000, mixed between loans and credit cards. He also only earns £8,300, working for Standard Life, of all people. He does have some savings, and alos jointly owns a flat with his brother.
Strangely, for a competitive skier, he has no insurance, which one of the experts suggests he tries to get reasonably quickly. Critical illness or income protection may be difficult for him to get through normal insurers, but he should be able to get this insurance through a professional ski association.
There’s also some advice given on his savings and sorting out his debts.
