Two days until my 2nd Christmas

Two days until the second best day of the year. Yes, that's right, the NFL Draft is here again. In honor of the NFL Draft, I would like to point out the difficulties that NFL players have with their budgets. I speak from experience having dealt with a few NFL players and one MLB player.

NFL players get paid 17 times per year. Not only that, but they get paid 17 weeks in a row. Meaning that if they spend too quickly (which they often do), then they are broke for the remaining 35 weeks of the year. Before you go and call them stupid, just think how hard it is to have this particular scenario. These are kids fresh out of college with no real world experience. I'm not saying you need to feel sorry for them, but they have money problems just like you and me. Imagine that you got your pay in only 17 weeks. On top of that, league minimum is about $450k, which means their take home is about $225k. Their good friends on the team are making millions of dollars, so they try to keep up with the Joneses. Which means that a guy with a take home pay of $225k is trying to live his life as though he has a take home pay of a few million dollars per year. It just doesn't work. A lot of these guys have worse credit card debt than you. Trust me, I've seen it.

So here's to the NFL Draft. May it fill my Saturday, make my Sunday, and create broke millionaires for years to come. Amen.

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Comments

  • 4/26/2007 7:44 AM Jeff Sullivan wrote:
    Two comments:
    1. I believe I read that everytime a person gets a raise, they are spending to that new salary level within 2 months. In other words, from a savings perspective, they are no better off.

    2. Thanks for the return of the email blog!
    Reply to this
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