That feeling when your "friends" spend over $1.5m dollars of YOUR money

As excited as I am about the imminent return of NFL football, I'm always heartbroken to see family and "friends" taking advantage of players: http://ftw.usatoday.com/2016/08/trent-richardson-money

Photo credit Matt Detrich of the Indianapolis Star, from http://www.indystar.com/story/sports/nfl/colts/2016/06/08/trent-richardson-has-designs-yellow-jacket/85626540/

This ties into the fact that there's an alarming lack of financial literacy in this country! If you don't watch your business and make a plan for what to do with your cash, you'll look up one day and wonder where it all went!

However, as the #3 overall pick in the 2012 NFL draft, Trent Richardson signed a rookie contract for over $20 million guaranteed, plus a $13.3 million signing bonus. So the lost $1.6 million shouldn't destroy his finances, as long as he didn't blow through the other $13 million that should be left after taxes.

A reminder that if you want to avoid being broke, you have to keep up the right mindset--whether you're an NFL player or a grad student!

2016 Eagles Mock Draft

2016 Eagles Mock Draft 

The Eagles shot themselves in the foot by winning the last game of the season against the Giants. Consequently, they’ll have a lower pick in the 2016 NFL Draft, which means more quality players will be gone by the time the Eagles pick--and not just in the headline-grabbing first round, but in every round. 

It’s important to make a good selection in the first round, but it’s even more important to do a good job with later picks; particularly in the second through fifth rounds. Making good picks in these later rounds are crucial to maintaining talent and depth at vital positions!