Why do so many NFL players go bankrupt?

[skinsfan69]

Originally Posted by Schneed10

Let's not sugarcoat it, you don't need an MBA, CFP, or read any financial self-help books to manage your money. You simply need basic arithmetic.

I have X amount of money. I spend Y per month. It will take me X divided by Y number of months before I run out of money. That simple.

The bottom line is these guys aren't thinking, at all. They simply WANT things. Want want want, with no regard to "should I".

A lot of what you say is true. People buys multiple cars, houses and so on. But we can look no further than our own Joe Gibbs to see that it can hapopen to anyone. I read Joe's first book and couldn't believe some of the bad investments he made. He created quite a mess for him and his family.