4 Money Habits of Professional Athletes You Should Not Follow

Professional athletes such as basketball players, football players, and American football players earn quite a lot of money. With the money they earn, they can go on vacation more than two times each money, stay in the most expensive hotels, and basically, travel like royal.

Unfortunately, some of these athletes actually took travelling like a royal a little too literally, leaving them broke. Those unfortunate, once rich professional athletes are:

1.      Vince Young

The American football star signed a £38 million pound contract with the Tennessee Titans. He played for three different teams during his six-year long career. He went on to establish the Vince Young Steakhouse, a restaurant in Texas.

Even though his restaurant still exists today, he made some not so financially smart moves with his money. His list of bad money moves include drinking £460 pound worth of shots after each game and spending £3,800 at the Cheesecake Factory each week. In addition to this, he bought 120 seats on a commercial plane in 2007. This has caused him to lose money, especially after his former team let him go.

2.      Dennis Rodman

Dennis Rodman, a basketball player, made a name for himself on the court. His colourful tattoos and hair made him stick out from the rest of his teammates. He rose to popularity with his impressive rebounding and defence technique. His career highlights include playing against Scottie Pippen and Michael Jordan and winning the rebounding champions seven times.

His net worth at that time stood at £20 million, but he blew a good majority of it on lavish cars such as Porsche, Lamborghini, and Hummer. He also spent millions on building up his metal record compilation, which took two-thirds of his expansive mansion.

All of this thoughtless spending made him fall behind in child support payments. At one point, a rumour about him selling one of his kidneys for money began circulating on the internet. This led him to file for bankruptcy.

3.      John Daly

John Daly, a professional golfer, came into the spotlight in 1987. He took home two major championships and accumulated a net work of more than £7 million. The pro golfer had the ill habit of blowing off his money on gambling. He lost £46 million. His inability to save money also stemmed from his alcohol problem and in 2008, he made a commitment to turn his life around. However, by that time, he did not have a lot of money left in his bank account.

4.      Lenny Dykstra

Lenny Dykstra is a former baseball player who went from being rich to being broke. The baseball player owed £30 million to his creditors. Even though he tried to invest in several different ventures such as car wash, stock trading, and real estate, none of those investments turned profitable. His trouble with money has landed him into jail. He was arrested for auto theft as well as for indecent exposure.

Sometimes, it takes looking at other people’s mistakes to learn a lesson.

Author: Josphine Smith

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