Best ways to save the money earned from your basketball career

October 26, 2014 Posted in Athletes, Coaches

Basketball is one of the well-paying sports worldwide. Basketball players are among the top-rated players in terms of their earnings showing the good salary prospects of basketball career.
Therefore when you decide to pursue basketball career, you are likely to earn good amount of money depending on the team you play for and your skills in general. Nevertheless, it is important to ensure that you have the best money saving tips for you to benefit from the money you earn from your basketball career.

The following are some of these best money saving tips:

Open a savings account: this entails opening an account and saving a certain percentage of your earnings. It is recommended to be disciplined in regard to this account and avoid withdrawing money from it at any given time. Set a specific percentage of the money you will be saving and honour that on all your earnings. You will be able to earn interest from your savings and use the money on other projects

Invest in various projects: after accumulating some amount of money, you can decide to invest it in various projects such as real estate. The good thing with property investments is that your property will keep on appreciating every year which brings good profit margins

Join a pension scheme: one thing that you should know is that you cannot play basketball the rest of your life. It will reach a time when you will retire. To secure your future especially after retirement, join a pension scheme which will be deducting a certain amount of money directly from your earnings and save it as your pension.

Therefore as a basketball player, you should always be disciplined with your money. Always think of how best to save your money from your earnings so as to secure your future and the life of your family as a whole.

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