Level Money Blog 4 Things Fantasy Football can Teach you about your Finances

With the NFL regular season nearing its halfway point, 57 million of us will be celebrating or agonizing over the statistics of our fantasy league teams. Already, this year has featured a lot of ups and downs - from breakout stars to tragic injuries - which could make or break your season, no matter how much time you spent researching those draft picks.Whatever your standings today or at the close of the season, there are a few things everyone can take away from the game. Here are four lessons your fantasy league can teach you about your finances:You have the time to manage your money: The average fantasy football owner spends 3 hours a week managing their team and an additional 9 hours per week keeping up with results on TV or online! That's A LOT of time. If you're able to dedicate this many hours to your hobby, we hope that you could at least squeeze in an hour of money management into your weekly schedule (hey, you can even multitask during commercials and half-time). Plus, you can save yourself time by downloading a money management app like Level Money℠ that will pull in information across all your accounts and handle the number crunching for you. With an hour a week, you could keep tabs on your monthly spending, catch unwanted credit card charges, or make progress towards your savings goals.It pays to do research: Prior to draft day, you probably studied up on the pool of NFL players, reviewing their stats and reading the pre-season reports to make the best picks for your team. This practice of researching before you buy-in also pays off when managing your money. Planning ahead by price-comparing online, understanding your retirement options, and knowing what your starting salary should be can help you spend less or earn more.Small mistakes don't have to mean giving up on long-term goals: It's easy to get frustrated by a bad game or a disappointing draft pick, but the occasional setback doesn't have to destroy your chances of winning your league. With some adjustments to your lineup (and a little bit of luck), you can get back on track for next week. The same can be true for your finances - just because you overspent one weekend or got stuck with an expensive medical bill, doesn't mean you can't recover in the long-term by making a few adjustments. Starting an emergency savings fund, building your credit history, and finding opportunities to earn more money can all contribute positively to your future and help smooth out those bumps in the road.Be realistic about what you can afford: Admittedly, this is a bit more of a reality check when it comes to spending on non-essentials. On one hand, the average annual spending on fantasy sports clocks in at $556; on the other, nearly half of the country couldn't afford a surprise $400 expense. While there is hopefully room in your budget to spend on what brings you the most joy, it's important to stay focused on your financial priorities and avoid spending beyond your means. Maybe next year, you keep your fantasy play to two leagues and skip your office pool, and put that extra $100 towards your student loans. Level Money℠ powered by Capital One®The compensated opinions expressed by the author at or through this blog are the opinions of the individual author, and may not reflect the opinions of any other person, legal entity or corporation. The author's opinions are not to be interpreted or held accountable as financial advice or recommendations.