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Without ethics, man has no future. This is to say, mankind without them cannot be itself. Ethics determine choices and actions and suggest difficult priorities.
I learned that we can do anything, but we can't do everything... at least not at the same time. So think of your priorities not in terms of what activities you do, but when you do them. Timing is everything.
Faith, family, academics and then sports was the order of priorities in my family. My parents really stuck to these principles when raising me and my two brothers. As long as we took care of everything, they let us play as much basketball as we wanted.
Nobody's life is ever all balanced. It's a conscious decision to choose your priorities every day.
Sometimes things in life happen that allow us to understand our priorities very clearly. Ultimately you can see those as gifts.