Despite having earned more than $18 million throughout his 4 year football career, NFL running back Alvin Kamara has not spent ANY of his $972,000 signing bonus, $1.4 million rookie year contract, nor his $75 million contract extension! Instead, he’s chosen to live frugally on sponsorship and endorsement deals alone.
Why is he following this unusually prudent route, so different from the typical splurging baller’s path to financial ruin?
“I’m like, ‘OK, this is more than I’ve ever had. My mom ain’t never had this much,’” Kamara shared with Uninterrupted. “It would be a shame if I got this and lost it.”
Rather than squander his riches to impress people, he decided that he would only spend on what he needed. “Material things don’t excite me,” he says, adding a valuable lesson: “With money in your hands, you have the power to control your whole life.
But make no mistake, Kamara may not spend on flashy cars, jewelry or houses, but he definitely values giving back to charitable causes, like the Black Lives Matter movement. He’s also an investor in the Black-owned digital banking platform Greenwood Bank.
Like Kamara, the best way to conduct our financial affairs is to live BELOW our means and give generously to the causes that help our communities thrive!