Have you ever wondered how so many athletes end up broke after earning millions of dollars? It is very impressive how, after reaching such a high standing, everything falls a part in a matter of years. According to an article that came out last year in Sports Illustrated, the majority of sport players are facing financial problems. The article illustrated that 78% of NFL retired players end up in bankruptcy or are in a very tough financial situation due to no job or divorce. The statistics show that 60% of NBA players end up broke after 5 years of retirement.
What it is astonishing about this is that the athletes that reach the professional level are not regular people; these are bright intelligent guys, above average with special skills and abilities. In most cases, they have someone that manages their career and helps them in their daily decision making.
An article at BusinessPundit.com on May 18, 2009 talks about 25 athletes that made millions, some of them over $20 million, and today they are broke. All with a different stories or reasons attached behind them but the result are the same, no money.
Why do they end up broke? How can they spend this amount of money in less than 5 years? The response to this question is very simple, a money management problem. The problem is that they were not taught how to handle money. And the problem is even bigger when you don’t know how to handle money God’s way.
People get excited about this issue, but that is exactly what is happening to 70% of the Americans that don’t know how to handle their money. In reality, how much money you make doesn’t matter, instead what is important is how you manage your money. If you follow basic biblical principles on how to handle money God’s way you will be successful with money. It’s not about how much you make, but it’s about management and habits. Dave Ramsey said, “to become debt free is 20% head knowledge and 80% behavior.”
In summary, this is what is happening to 70% of the families in North America. You need to take this as serious as it is. You need to take action today and develop a plan to get out of debt, save money, and get ready for an emergency. You need to start TODAY. Waiting or not making a decision is the wrong decision.
If you would like to hold a financial conference or a complete 4 sections of classes at your church or community don’t hesitate to contact Eliud Rodriguez for more information. Phone (478) 737-5089.
Leave your comments. Subscribe to our blog today.
Follow me at www.twitter.com/eliudrdgz
