SHOW SOME RESPECT: WHY DO PEOPLE COME FROM THE BOTTOM AND THROW MONEY AWAY

Woman Holding Shopping Bag

“Mind your money.”


started at the bottom

So many people who grow up in poor environments have these dreams of making it in life. A goal that is very broad and ambiguous when you hear the word making it. But there is another side to making it in life. And that side that how do we make money, do all that work to get it, then blow it to the wind. And it’s simple, we think the money will keep coming. We don’t think about tomorrow because tomorrow is not on the minds of people. We make so much money and over time forget about the days of being broke. And that’s when you make the vital mistake. Once you forget, you find yourself back in the place once again.

think first, spend last

There is a saying, “Hey, if you got it, flaunt it.” And that sounds good, but the life that you might be living could all fall apart because it’s not a sustainable existence. You have to think about tomorrow, but that’s hard when you don’t have to think about tomorrow. So many people ask how do you let your spending get out of control. But they have to always watch their finances Image result for broke athletes espnreally closely. They live on the edge of losing everything, so they don’t understand getting and then spending beyond what you have to spend. But guess what, the people spending were the people at one point in time who said they don’t understand why so many people with money go broke.

your mind must be cleaned

If you want to keep the money you earned you can no longer think poor. You have to always keep cleaning out the bad stuff that you once thought was a good idea before you started making money. Because your thoughts at a certain level might be rational to you and everyone around you at that current level, but they keep you in that same position. And you don’t realize your mind needs cleaning until you move to a different level. And then everyone below that point you see their mistakes. And that’s when you think to yourself, “Oh, ok, this is the problem.” Sad thing is, so many won’t understand or listen to you. And they will never leave their position. And if you don’t watch your spending you will be back in the position you worked so hard to leave.


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MONEY WOES: WHY ATHLETES MAKE A LOT OF MONEY AND GO BROKE

Coins Inside Jar

“Why they lose it all.”


new money

When you are a young male coming from an impoverished environment or even coming from the middle class, you have all these dreams in regards to money. Buying this lavish home and living a life that you never thought you would be living. but then it happens, and all of a sudden you can afford that house. You can now go out and buy that lavish car and those clothes you looked at through windows. But there is a catch to all this money, and that is it does not last forever. So you have to spend wisely and also pay your bills on top of that as well. Red and Brown Floral Stair Carpet

when the game is over

As the game passes you by and it’s time to move on to the next thing, now what? You have been spending so much money that you forgot about the end nearing. So here you are, broke with nothing to your name. A place where so many athletes have found themselves once they retire from the league. You are destitute and scrambling for answers as to what you will do to generate an income. And this is where you notice athletes make even more vital mistakes. They start dumping money into ideas that fall apart even quicker than spending. But see, there has to be more that meets the eye. All of them can’t be spending excessively.

reality versus fiction

When you see guys going pro, it means that they are overnight millionaires, wrong. Most of them are name you will never know who make around $500,000 per year before taxes. And their careers are on average 3 years long. So when you hear that someone made $1.5 million over 3 years, that is a lot relative to the average American. But when you factor in the fact that you have to make that money stretch after the league and taken into consideration the money you lived off of while playing, it’s not much. $1.5 million minus taxes equals about $800,000 with the average home around $250,000. $550,000 after 3 years is way less, and you’re talking working a regular nine to five. Because you’re retired, but you can’t retire fully off the money you have made.

big money go broke as well

Here is a level that is difficult to comprehend when athletes go broke. It is the level where guys are making over their career $50 million, $100 million, or even $200 million. How in the world do they go broke? And the reason is taking care of others, bad investments, and not watching their finances. They live a lifestyle that billionaires don’t even live. Taking care of multiple people who are not bringing in incomes can run up a bill as well. So it all falls apart eventually.


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