The Math Adds Up

When I read the story about the 308-pound NFL player who drives a used car that cost him $9000… It put an incredibly huge smile on my face.  It was not the fact that the car was unusually small for a man that is 6 foot 3 and weighs 308-pounds.  It was not that the picture that accompanied this great story was comical.  It was because John Urschel (@mathmeetsfball), who plays on the Baltimore Ravens decided not succumb to peer pressure or run with the joneses.

What made me smile from ear to ear was how the mathematician or as he likes to call himself the “Mathlete” understood the bigger picture.  He knew, how much he was guaranteed to make, he knew that if he was hurt, he would not see any of the contractual money or as I like to call it “the promise money”, so he created a budget and stayed within his means.  I am sure he was teased by the veterans and maybe even some of the rookies (spending money they do not have), but he realized that if I buy a used car for $9000 that I like and I keep my expenses low, that I would be able to maximize this contract.  I try to instill this in the athletes I speak to on a daily bases, but it is hard when the media portrays them as successful athletes, only if they are spending thousands of dollars and driving fancy cars. It’s even harder if family, friends and even players push them to live these fictitious lives.

According to the Baltimore Sun John tries to live on $25000 a year.   He had a roommate to help manage expenses, although he supposedly made $564,000 in salary and bonuses in 2014.   However, when he signed his rookie deal last year (2.3 million through 2017), he only received the $144,000 signing bonus, which means if he were not able to play, he did not over extend himself financially, but have money to invest and create a future outside of football.

Imagine if John was not the exception, but the rule.  If all of our professional athletes decided to live well below their means until the money was in the bank.  We would hopefully have a lot less broke athletes.  I understand that some athletes may have additional expenses that they have to consider (families, previous debts), but if this was their mindset to only spend a minor percentage of what they already have in the bank… we could help them create legacy that does not include being broke.

This concept applies to EVERYONE, not just athletes.  We need to start living within our budget and start saving for our future, not spending monies before we make them.