This kid got the memo.
The NFL season started last week, and there’s a player who has been in the news since the preseason because of his relationship to money. This isn’t another tale of a player who made millions and lost it all. It’s about a player who has only been in the league for three years, but regardless of how many more years he plays, he is living a lifestyle that will keep him wealthy for the rest of his life.
Ryan Broyles, who was a wide receiver for the NFL’s Detroit Lions between 2012 and 2014, spoke with MarketWatch about his spending habits, his work ethic and the importance of keeping a budget. At one point, while talking about the specifics of his budget, he said he wanted to make it clear that what he does works for him, but that he understands everyone’s situation is different. “I’m not Dave Ramsey or Suze Orman,” he said.
But after he described his budget in detail and shared his philosophy on spending and investing, I’m not so sure he couldn’t host a personal finance call-in show himself. He would just be a younger and much stronger version of Ramsey and Orman.
The 27-year-old Broyles made over $2 million from the Lions between 2012 and now. But he keeps to a budget of $5,000 a month in total spending. Of course, that’s a lot of income for most people, but spending less than you earn, if you’re able to, is smart in any income bracket.
He said some of his friends ask him why he doesn’t have flashy things, like a Porsche. But he tells them he’ll have such things one day, and he won’t even have to be working when he buys them.
“I want to invest and I want the investments to provide so I’m financially free,” he told me.
(For the rest of the article, click the link.)
