Aug 2009
29
Odds are, as you read this, people you know may be poring over statistics, obsessively reading expert analysis and plotting against friends, family and strangers all over the country. No, they're not trying to become the next Bernie Madoff; they're just excited because it's fantasy football time again. But could they also be in danger of putting their finances on the injured list?
For most people, fantasy sports offer harmless, relatively inexpensive fun, says Marcus DiNitto, managing editor of SportingNews.com.
"If you are disciplined enough to not get yourself in trouble and not to chase your losses, and you treat things as an entertainment expense, and you sort of build that into your budget, then I think it's justifiable," DiNitto says.
However, fantasy players can find themselves in dangerous territory if they aren't careful. Leagues can be expensive, and it's easy to spend recklessly or run afoul of tax law.
And if players become so wrapped up in fantasy sports that it eats into their productivity at work, it may even put their jobs at risk, says Judy Lawrence, author of "The Budget Kit: The Common Cents Money Management Workbook" and publisher of The Money Tracker Web site.
"If someone else is having to pick up the slack on your team, or someone's having to cover for you, that's going to have some kind of an impact on co-workers and ultimately ... on your career," Lawrence says.
http://www.bankrate.com/finance/personal-finance/don-t-let-fantasy-sports-tackle-wallet-1.aspx?ic_id=nwsltr_wkrdup_20090828
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