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Average NBA player spends $42,500 a month

Posted on 10/24/16 at 7:31 pm
Posted by Bench McElroy
Member since Nov 2009
33942 posts
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 by floridatigah
FL
Member since Oct 2004
10395 posts
Posted on 10/24/16 at 7:31 pm to
What are your thoughts on this?
Posted by tiger perry
Member since Dec 2009
25668 posts
Posted on 10/24/16 at 7:32 pm to
No wonder most of them go bankrupt after 5 years out of the league.
Posted by BCMCubs
Colorado
Member since Nov 2011
22146 posts
Posted on 10/24/16 at 7:32 pm to
Did they list how much they spend at strip clubs???
Posted by Lsuhoohoo
Member since Sep 2007
94532 posts
Posted on 10/24/16 at 7:33 pm to
quote:

more than 50 players signed up for the service; 446 players were on NBA rosters when the season opened in October.


Posted by Hetfield
Dallas
Member since Jun 2013
7047 posts
Posted on 10/24/16 at 7:33 pm to
At least they are using Uber instead of continuing to get DWI's while showing off their nice cars to all the women..................
Posted by WestCoastAg
Member since Oct 2012
145165 posts
Posted on 10/24/16 at 7:34 pm to
Walmart is where the ballaz go
Posted by PortCityTiger24
Member since Dec 2006
87455 posts
Posted on 10/24/16 at 7:35 pm to
quote:

What are your thoughts on this?


you know the routine with him. Article, link, nothing else.
Posted by LandonC
Member since Oct 2016
599 posts
Posted on 10/24/16 at 7:35 pm to
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 by gobuxgo5
Member since Nov 2012
10028 posts
Posted on 10/24/16 at 7:40 pm to
Where's child support?
Posted by Lsuhoohoo
Member since Sep 2007
94532 posts
Posted on 10/24/16 at 7:41 pm to
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 by philabuck
NE Ohio
Member since Sep 2008
10379 posts
Posted on 10/24/16 at 7:42 pm to
How do they rack up airline costs like that? Does the team not cover traveling costs?
Posted by TheOcean
#honeyfriedchicken
Member since Aug 2004
42484 posts
Posted on 10/24/16 at 7:45 pm to
quote:

Average salary is $5 million .


Not when you factor in fed/state income tax.
Posted by SnoopALoop
Nashville
Member since Apr 2014
4394 posts
Posted on 10/24/16 at 7:47 pm to
Wish they'd show it by race. Would be hilarious.
Posted by TheWalrus
Member since Dec 2012
40534 posts
Posted on 10/24/16 at 7:48 pm to
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 by mizzoubuckeyeiowa
Member since Nov 2015
35520 posts
Posted on 10/24/16 at 7:50 pm to
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 by craigbiggio
Member since Dec 2009
31805 posts
Posted on 10/24/16 at 7:53 pm to
Nm misread OP
This post was edited on 10/24/16 at 7:55 pm
Posted by southernelite
Dallas
Member since Sep 2009
53177 posts
Posted on 10/24/16 at 7:57 pm to
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 by TH03
Mogadishu
Member since Dec 2008
171037 posts
Posted on 10/24/16 at 8:01 pm to
quote:



Not when you factor in fed/state income tax.



Oh man that income tax on $5 million is really killing them.
Posted by DupontsCircle
Dupont Circle
Member since Jun 2016
5823 posts
Posted on 10/24/16 at 8:03 pm to
quote:

Uber ($37,023)


I don't even know how this is possible. DC to Baton Rouge is $1600.
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