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Average NBA player spends $42,500 a month
Posted on 10/24/16 at 7:31 pm
Posted on 10/24/16 at 7:31 pm
quote:
According to data from Personal Capital, the average NBA player spends roughly $42,500 a month on everything from clothes to Uber. By comparison, the average income of U.S. hoseholds was $53,657 in 2014, according to the most recent Census data.
Personal Capital, a Bay Area wealth management company, has a deal with the NBA Players Association and provides a program that allows players to track their spending on a daily, weekly and monthly basis. According to the San Francisco Chronicle, more than 50 players signed up for the service; 446 players were on NBA rosters when the season opened in October.
The spending snapshot from December through March shows that players spend the bulk of their definable money on clothing and shoes, followed by cars, travel and dining out. There’s a large chunk of cash that goes unaccounted for, though, with 39 percent of their spending falling into the “other” category — rent/mortgage, bills and other spending of that kind likely falls under that umbrella.
WHERE THEY SPEND THEIR MONEY
Express ($221,108)
Whole Foods Market ($73,113)
Neiman Marcus ($59,610)
Delta ($59,154)
LouisVuitton ($57,945)
IRS ($51,382)
American Airlines ($51,243)
Apple ($49,546)
Walmart ($45,902)
Mercedes-Benz ($44,835)
Target ($44,633)
Best Buy ($43,364)
Ally ($39,956)
Uber ($37,023)
Amazon ($36,990)
LINK
Posted on 10/24/16 at 7:31 pm to Bench McElroy
What are your thoughts on this?
Posted on 10/24/16 at 7:32 pm to Bench McElroy
No wonder most of them go bankrupt after 5 years out of the league.
Posted on 10/24/16 at 7:32 pm to Bench McElroy
Did they list how much they spend at strip clubs???
Posted on 10/24/16 at 7:33 pm to Bench McElroy
quote:
more than 50 players signed up for the service; 446 players were on NBA rosters when the season opened in October.
Posted on 10/24/16 at 7:33 pm to Bench McElroy
At least they are using Uber instead of continuing to get DWI's while showing off their nice cars to all the women..................
Posted on 10/24/16 at 7:34 pm to Bench McElroy
Walmart is where the ballaz go
Posted on 10/24/16 at 7:35 pm to floridatigah
quote:
What are your thoughts on this?
you know the routine with him. Article, link, nothing else.
Posted on 10/24/16 at 7:35 pm to Bench McElroy
Average salary is $5 million . Spending $500,000 would be 10%, not that much and the ones who signed up probably have long term deals
Posted on 10/24/16 at 7:41 pm to tiger perry
quote:
No wonder most of them go bankrupt after 5 years out of the league.
I mean I get why it happens. A large percentage of them grew up without money, then at 19 or so...they're suddenly millionaires with no financial responsibility or money management skills. They've got tons of money for the first time and by God they're gonna spend it.
That part isn't surprising. What's sad to me is that so few are taking advantage of wealth management opportunities that are presented to them. All the NBA and NBAPA can do is present the availability. You can force players to care about money management.
Posted on 10/24/16 at 7:42 pm to Bench McElroy
How do they rack up airline costs like that? Does the team not cover traveling costs?
Posted on 10/24/16 at 7:45 pm to LandonC
quote:
Average salary is $5 million .
Not when you factor in fed/state income tax.
Posted on 10/24/16 at 7:47 pm to Bench McElroy
Wish they'd show it by race. Would be hilarious.
Posted on 10/24/16 at 7:48 pm to Lsuhoohoo
So basically the financially responsible are the ones measured here? The people who don't care enough to sign up are probably spending way more.
Posted on 10/24/16 at 7:50 pm to Bench McElroy
quote:
Uber ($37,023)
How do you spend this much on Uber?
It's like $6-10 to go anywhere in any city.
I guess it's Uber- club hopping all night.
This post was edited on 10/24/16 at 7:50 pm
Posted on 10/24/16 at 7:53 pm to mizzoubuckeyeiowa
Nm misread OP
This post was edited on 10/24/16 at 7:55 pm
Posted on 10/24/16 at 7:57 pm to mizzoubuckeyeiowa
They aren't making Uber X. Uber Black at minimum and probably in big cities, $25-50 a ride. If they're taking a Uber Black from the Suburbs, could be a couple hundred round trip or more.
Posted on 10/24/16 at 8:01 pm to TheOcean
quote:
Not when you factor in fed/state income tax.
Oh man that income tax on $5 million is really killing them.
Posted on 10/24/16 at 8:03 pm to Bench McElroy
quote:
Uber ($37,023)
I don't even know how this is possible. DC to Baton Rouge is $1600.
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