A new study has found that the typical NBA players spends a whopping $42,500 every month! On what, you ask? Keep reading to find out.
The study was carried out by wealth management company Personal Capital. While it’s no secret that many, if not most, professional athletes, even those who aren’t quite in the seven figure annual pay range, choose to live an extravagant lifestyle, one featuring mansions, fancy cars and more, we’re still taken aback by how much they really spend.
As for just what exactly they are spending approximately $42,500 per month (or $510,000 a year) on, the San Francisco Chronicle breaks it down as follows:
- Clothing/shoes: 11 percent
- Automotive: 9 percent
- Travel: 8 percent
- Restaurants: 7 percent
- Charitable giving: 7 percent
- Entertainment: 6 percent
NBA players sure do love their fashion…
Their favorite companies include Express, Whole Foods, Neiman Marcus, Delta Airlines, Louis Vuitton, Apple and Mercedes-Benz.
It must be noted that the sample size, although good, wasn’t huge, so the study may not be representative of the entire league. Also, the data used were from a four-month sample only.
Even so, it easy to see how some athletes can go from having millions to filing for bankruptcy protection — we’re looking at you, Allen Iverson! $42,500 is more than most people earn per year… before taxes.