Trae Young learned spending habits thanks to his dad making him have a credit card in high school
Atlanta Hawks rising star Trae Young is looking to earn roughly $21 million dollars in salary over the next three years. This is just from his paychecks from the Hawks, and does not yet include any endorsement deals he may end up signing. Moreover, with the tremendous potential he has shown in his rookie year, Young will definitely be in for a very lucrative payday once he signs his first non-rookie scale deal within the next few years.
Nevertheless, despite the millions of dollars this young man is and will be earning, it appears that Young already has his spending habits locked down this early in his career. The credit has got to be given to his father, Rayford Young, who molded his son’s financial perspective at a young age.
Apparently, Rayford gave his son a credit card while Trae was still in high school, but instead of having his son use it as a potentially carefree spending tool, Rayford used this privilege as a means to teach his son the importance of financial responsibility. The father-and-son duo talked about this learning experience in a recent guesting on the Kneading Dough podcast.
“He never got to use the credit card much,” says Rayford, who is himself a former Texas Tech basketball star, via Courtney Connley of CNBC. “But I would make sure that when he did it was paid off every month.”
Young himself explained how his dad taught him this valuable lesson, and how this has definitely stuck with him years later.
“[It would be] us sitting on the couch and him telling me about certain athletes that have gone broke just because they haven’t managed their money the right way,” Young says. “We’ve had multiple of those conversations and I don’t want that to happen to me.”
Young has a bright career ahead of him, and with the proper mindset in place in terms of being responsible with his earnings, this future star will likely have financial longevity even after he hangs up his laces.