Hey there! It's Talk About Money Tuesday, your favorite day of the week!🤑
It's that time of year when folks are counting down the days until kick-off time for the Super Bowl, football's biggest stage.
I'm one of those people who doesn't really care who wins or loses. That's because I'm Team Just Here for the Snacks. But I'm always interested in the many ways in which the Super Bowl is awash in money.
The NFL makes billions from ticket sales, TV rights, sponsors, and merch sales. The host city makes millions from hotel bookings, restaurant sales, and local business activity. And the players get lots of extra cash from playoff bonuses, with some picking up even more through Super Bowl-related contract incentives.
However, earning serious cash doesn't guarantee long-term financial success. Without a plan, big money can disappear faster than a fourth-quarter lead.
So Super Bowl week is as good a time as any for me to write about financial windfalls — money that comes all at once, like birthday cash, graduation gifts, a hefty first paycheck, or even a tax refund. These moments are exciting for sure, but they require smart decision-making.
Let's get into how parents and mentors can act as financial coaches to help young people think about how to manage unexpected cash, so they're prepared when their "big money moment" arrives.
Money Stat
$178,000
Those Super Bowl rings that drip with diamonds are the prize that every player dreams about. But players in the big game walk away with more than just jewelry, they get bonus money too.
According to the NFL's collective bargaining agreement, the winners of this year's game will get $178,000 each.
The players on the losing team will get $103,000 each for making it to Sunday's game. They'll also get (less fancy) rings that commemorate their conference championship.
These bonuses are the kind of payouts that have the potential to create a high-stakes decision moment: spend, save, invest, or share. This is where money habits really matter.
Money in the News
The news: Former NFL player Robert Griffin III recently told a podcast host about an eye-opening moment he had after signing his first contract as a rookie quarterback. Taxes ate up roughly half of the $14 million signing bonus Griffin got at the time. He didn't understand that Uncle Sam always gets his cut.
What it means for young people: This story highlights a mistake many first-time earners make: assuming the number they see on paper is the number they get to keep.
Whether it's a summer job paycheck, an internship stipend, or NIL (Name, Image, Likeness) income, taxes and deductions can really shrink those earnings.
For young people especially, this can lead to spending money they don't actually have — or, like Griffin, feeling blindsided when what shows up in their bank account is lower than expected.
Tip for parents & mentors: Teaching your child early that gross income isn't the same as take-home pay helps them plan realistically and make smarter decisions when they experience their own financial windfalls.
For younger kids: Ask, "What do you think happens when you get extra money? Does all of it stay yours?" Then explain the idea of taxes in simple life terms (like "a slice goes to things we all use like parks and roads.")
For teens and college students: Talk through a real or hypothetical paycheck's deductions (taxes, Social Security, Medicare, etc.) so they understand gross income vs. net income.
Get in the Zone
Money skill: How to make a windfall plan
Why it matters: Managing windfalls applies whether the money is $20 or $20 million. Sudden money can feel thrilling, which makes impulse spending tempting. A plan helps kids slow down, shift excitement into intention, and see money as a tool for reaching goals.
Try this: Set up clear jars labeled Save, Spend, Share for younger kids to use specifically for birthday cash or holiday gifts. They can physically see money get divided into goals instead of spending it all at once.
Work together with teens to assign percentages to windfall income so they learn budgeting strategies linked to real financial decisions they might face when they're making much more money.
Encourage them to set one short-term goal (say games or new sneakers) and one long-term goal (maybe a college or car fund) to practice balancing enjoying the moment and planning ahead.
Review the plan together after a month. You can talk about what worked and what didn't, which helps them see how planning improves outcomes over time.
Money Talks
Here are three ways to start a conversation with young people about windfalls and money management:
1️⃣ Ask a simple question like, "What would you do if someone gave you got $100 right now?" (You can bump this up to $1,000 for teens.) This opens the door to talk about choices and helps them see that you can plan how to use money, not just spend it right away.
2️⃣ Talk to your child about a "pause rule." Agree together that when unexpected money comes in, they'll wait 24-48 hours before spending it. This gives them time to think and cuts back on impulse spending.
3️⃣ Use real-life money moments as teachable opportunities. When your child receives their version of a windfall, talk with them about what choices they could make and why some choices might help them achieve a future goal.
Loose Change
🍽️ A bunch of New England Patriots players went out to dinner. The bill for the entire table threw two rookies for a loop.
💰 Wheel of Fortune's first $1 million winner, back in 2008, reports that the money doesn't go as far as you think.
💸 The average tax refund is projected to jump $1,000 this year. Here's why that shouldn't be celebrated as a potential windfall.
Thanks for reading! If you know someone who cares about youth financial literacy, share this newsletter with them. And if this newsletter was forwarded to you, please subscribe here.
'Til next time,
Audrey
Founder &
Certified Financial Education Instructor
The FinLit Zone
600 1st Ave, Ste 330 PMB 92768, Seattle, WA 98104-2246
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