A lot of NBA players have absurd stories of how they burned through the money they started to make as an NBA rookie. Most of them bought something for their parents (very often single moms) such as a house or a car – but after that, immediately came sports cars, jewelry and partying.
That’s not surprising for anyone, especially for young men who often come from very difficult backgrounds. You finally have some money in the bank and can treat yourself. Well, Jayson Tatum is taking a different approach. He hasn’t spent a single dollar of his NBA money. (via KNEADING DOUGH with Maverick Carter):
“All the money I get from the Celtics, I put it in a savings account.”
He can thank his mom for so much financial responsibility. Jayson’s mom had him at the age of 19. That didn’t stop her from finishing high school, college, law school and getting a doctorate while working two jobs. Jayson would even have to go to his mom’s college classes, so the importance of academic success didn’t escape him.
Tatum only spends money he gets from endorsements and similar off-court activities. He was lucky enough to make enough money that way from the day he started playing in the NBA, but also committed to it and told his agent to get him as much off-court stuff as possible.
Jayson’s rookie scale contract amounts to 30 million, not a bad rainy day fund to have. The way he’s been playing there’s no doubt the Celtics will max him out and his savings account will soon be in the nine digits level.
After all the stories we heard of players losing all their money, it’s great to see the new generations understanding the importance of financial responsibility.