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The Money Diary: Making wise money decisions as a professional sportsman

Drizzt: The Money Diary deals with tips and strategies to let you make better decisions with your money. It also deals with caveats/pitfalls in managing personal assets, debts, income and expenses.

When we talked about NBA, the very first players we thought about are the Lebron James, Kobe Bryant and Dwayne Wades. These are the top draft picks who upon being picked for the NBA Draft are set for life from the onset.

We envy their financial situations, but a lot of them end up not saving enough or making a good use of their money. They end up with questionable investments that eventually tanked or go into gambling problems.

Today we have a feel good story about how Jeff Foster, who ends up being a backup player all his NBA career managed to prudently manage his money.

  1. Early life money influence is important. Jeff was brought up in an upper middle class family with sensible money education
  2. He got burn by stocks early and these early mistakes is important to reign in any bad investing habits
  3. He knows he is in a situation which not many average joes are in, and he saved and invest well for it
  4. Even till this date, he still chooses a lot of frugal money decisions

Jeff Foster, The Buffett of Basketball


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