Your first year out of college, you should probably keep
saving your money in mind very often. Testing the basketball
overseas is key your first year. During your
first or second years of playing professional basketball
you will probably make the decision to stick with it or
drop it depending on your success, failure or circumstances.
In which case, saving money for future plans is important
if you plan to change careers. Professional basketball
salaries only last during the season so you
won’t receive any income outside of basketball if
you are a regular average Joe. If you have endorsements
and other outside rewards and benefits it could be substantial.
You don't have to think about saving so much.
Although I save most of the time and rarely buy things
I try to keep in mind my goals and future plans if basketball
does fail. An injury can change your career in a heartbeat
so be smart with your money.
Key points for maintaining a good budget
1. Set a certain amount of money aside for food, entertainment,
transportation (if not included)
2. Don't lend money out to family, friends, and others (of
course if it’s emergency)
3. Set a goal for which you will save during that year excluding
4. Invest in some type of stock (Learn more about stocks
5. Open a savings account and keep a record of your spending
at least once a month
If you follow some of those guidelines you should
be set and ready to go.
After you first and second years of playing basketball you
should have mastered budgeting your money, so now its time
to increase your earnings has a professional athlete. If
you perform well and improve each year it is important to
ask for a raise and bonuses for each year you plan to play
basketball with a particular club.
For example if you first year you earned $11,000 year (7-8
months average) and you performed outstanding and let your
team to a championship then a raise is inevitable. So I
guess you could next as for around 15,000 year next or more.
This is just an estimate because it all depends on the team’s
budget and how much they are will to invest in a player.
So first impressions when you play are very important!
I don't have exact basketball salaries here but if you
perform well and get in the know you can ask for what you
want. It all depends on exposure and where you have played.
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