Why Your Favorite Athletes Go Broke

Most professional athletes suffer from a lack of knowledge in personal finance. Understanding how to budget your money, how to save money, and mastering your personal finances will save you from going broke.Show more

Unfortunately, athletes spend their money frivolously on large houses, exotic cars, custom jewelry, and anything to help live lavishly.

When their playing careers are over, many athletes go broke because they don't follow a few key personal finance principles.

In this video, I share the first couple of reasons why so many athletes go broke following their playing careers.

You'll likely read headlines every day about another athlete having some sort of financial hardship and wonder why that's the case. The athletes sign contracts for millions of dollars, but can't seem to stay away from going broke.

When you understand how quickly money can be spent when purchasing liabilities, it makes total sense why these athletes struggling with their personal finances so much.

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