Gilbert Arenas was broke before playing a single minute in the NBA.
During an interview with VladTV, the legendary NBA guard revealed that he blew through the first year of his $845,000 rookie deal with the Warriors before playing a minute in the league. Yes, you read that correctly. Arenas spent the value of his rookie deal before he was even drafted. (RELATED: David Hookstead Is The True King In The North When It Comes To College Football)
“I spent it all. When they did my budget, I could only spend $500 a month…I couldn’t even drive back and forth from the arena sometimes,” Arenas explained.
You can watch him break it down in the two videos below.
It is amazing how bad people can be with money. I try not to judge people for how they handle their finances, but damn, this is mind-boggling.
How do you blow through more than $800,000 before even being drafted? It makes no sense at all. It’s downright embarrassing and humiliating.
Here’s some great free advice for everyone reading this. Don’t buy stuff you don’t have the money to pay for.
It might sound incredibly difficult, but I can promise you it’s really easy. If you don’t have the money to pay for it, do not buy it!
Trust me, you will thank me later.
Whatever you do, don’t blow close to a million dollars before cashing your first NBA paycheck.