MONEY MANAGEMENT WITH LARRY BIRD ADVICE

Money management with Larry Bird is a sure bet.

The guy knows how to score on and off the court.

How did the Hick from French Lick resist the NBA lifestyle of living big?

He saw things in the future that we can all benefit from.

“Even when I was at the top of my game, we didn’t drive a Mercedes or live in million-dollar homes, things like that. When I first started playing, we bought a nice little house in the French Lick/West Baden area. It cost $125,000. We didn’t run out and spend all our money because we knew there would be a time when it was over, and I wanted to have options on what we could do with our future.“

But why take any advice from what appears to be fun killing guy ignoring the roll he was on?

After all, he’s famous for calling his shot, and ruining his back building his Mom a cement driveway.

Apparently Larry could do a lay-up, and lay cement?

What’s the difference?

Construction guys are built differently than a long limbed gangly guys who dribble and shoot a ball, who run up and down the court.

They have back muscles built from lifting and moving heavy stuff over a period of time, a lifetime until their backs give up on them.

Bird joined them when his back gave up on him. But he saved money by not hiring the work out.

If you’ve ever had a sore back you probably didn’t shoot hoops or build driveways.

And if you’re really good at one, keep working.

Money Management Peer Pressure

“Some of the guys who made far less than me bought the $700,000 homes, and the Rolex watches, and the big luxury cars. I used to tell them, ‘you’re crazy, you should be saving your money.’ They’d laugh and make jokes about me stashing my money away, but I could see what they were doing.”

If you’ve out with your pals and things take a ‘one up’ turn for the worst, it usually means money competition.

But the next round turns into buying a new car to buying a new house.

Keeping up with the Jones’ turns into a lifestyle.

Bird opted out, and he’s not the only one.

Kiki Vandeweghe had a similar plan.

“The money isn’t really important to me. I don’t need a lot for myself, but I like the security that it will provide for my family somewhere down the line. I don’t really have expensive tastes. I don’t have any desire to own a big car or a lot of expensive clothes. Those things don’t make me happy. The nice thing about having money is what you can do for others.”

His sister Tauna, on the Trail Blazer broadcasting team, says, “You have to understand that money really doesn’t have any meaning to Kiki . . . because he never spends any!” Although, she says with a laugh, he insists that she pay half the rent for the Portland apartment they now share. 

Call it contest of cheap guys, or visionaries with an eye on the future. Both Kiki and Bird shared similar money management ideas.

Don’t spend any money unless you had to.

 “I think I’m just very lucky to be playing basketball, lucky to be paid to play basketball, and even luckier to be paid very, very well.”

Are Bird And Kiki Correct About Money?

You don’t need a ton of money to embrace good money management.

However, if you don’t have a ton of money to manage, who is going to listen to any advice you offer on the subject?

A broke guy who knows how he went broke tells a good story.

It’s better when he rebounds and makes even more. That’s the story.

Had it all, lost it all, got it all back and then some.

My wife says I don’t spend money. What she means is I don’t shop. I don’t go shopping just for the fun of it.

She went shopping with a friend and came back with a pair of pants for me to try on.

So I did. And they didn’t fit.

She took them back on her next shopping trip and told me she got a full refund of $125.

Me: Don’t buy me expensive pants to ruin.

Her: Then don’t ruin them.

Me: Do you mean don’t wear them?

Her: No, just change when you think you might get dirty.

Me: Then I’d be changing them all day.

Her: Maybe you need overalls?

Overalls?

Now I have a pair of overalls, which is a metaphor of money management.

Skip the expensive pants with the fancy label and wear good quality with durability.

And overalls.

Do that any your new pants will last ten years. Then you can brag about it.

“How much do you think these pants would cost in today’s dollars? I paid half that and they look twice as good.”

Last Word From Larry Bird

“By the time they realized what I was telling them was true, it was too late. I can’t tell you how many ex-teammates have asked me for money. It’s heartbreaking for me to say no, but I do because I warned them. I told them to save.”

If someone you know tells you how to manage your money, check with Larry Legend first.