EQUUIP, in partnership with Irish Injured Jockeys, have developed a financial literacy course for all professional jockeys, including conditionals and apprentices, which is free to attend.
The course, which is bespoke to the racing industry, will offer practical advice and tools to help guide jockeys on all financial matters, how to make better money decisions, learn about personal finance, financial concepts, and financial planning.
The course is divided into three modules. Stage one is an online tutorial which covers the basics of finance, budgeting and financial advice including best practice in finance management.
Stage two in an in-person workshop with Gateway Financial Consultants The workshop will cater for those starting in their careers by helping to guide them through practical matters such as tax, VAT, the breakdown of prize money and riding fees.
The workshop will also benefit those who have further progressed in their career paths and are thinking about the next step including pensions and investments.
The final stage offers one-to-one mentoring with a Gateway financial consultant where jockeys will receive personal financial management advice.
Carol Nolan, director of people and Equuip at HRI, commented: “Equuip teamed up with Irish Injured Jockeys to offer this course to all professional jockeys as it was something we both felt was needed for the jockey population.
“Jockeys are licensed from 16 years of age, and it is important that they receive as much information in relation to their finances as possible. From basic financial advice to financial planning and investments, we hope it will offer really practical advice and support to the riders. In time, our plan is to roll out a similar course to all other employees within the racing and breeding industry.”
Michael Higgins, Irish Injured Jockeys general manager, said: “Irish Injured Jockeys is committed to providing supports like this available to riders to help them right throughout their careers and beyond, so we are delighted to partner with equuip in providing this valuable course.
“Jockeys lead hectic lives with long days focussed on their weight, fitness and their rides so matters like planning for the future, tax and even everyday financial matters are often given very little time.
“The aim of this course is to make riders more comfortable with their financial affairs and covers aspects which we all need to be mindful of, such as income tax and budgeting, including provision for life after their riding career.
“A lot of time has gone into shaping the content with riders having had an input to make it relevant and meaningful. Feedback from those who have contributed is excellent and we are convinced that the financial literacy course will be a major benefit and a great addition to the services already provided.”