Study shows NBA players on average spend over $40,000 a month
A recent study has been conducted regarding the spending habits of NBA players. Personal Capital, a financial advising and wealth management firm, used a free budgeting tool to assess what 50 selected NBA players spend their money on. These players, ranging from rookies to established veterans, were analyzed from December to March, and their top spending categories were revealed.
According to the study results, the average NBA player (among the 50 sampled athletes) spends about $42,500 a month. This money is put towards many different categories, including clothing, food, travel, and philanthropy. Although the “other” category takes the majority with 39%, clothing/shoes seemed to be a commonality among all sampled players.
Express, the American fashion retailer, happens to be the clothing company most NBA players gravitate towards. The company collected more than triple the amount of money Whole Foods did over the four month period. This, coupled with Steph Curry‘s involvement as a brand ambassador, shows that Express has flourished among the NBA market. Their fairly priced clothing and larger availability in sizes have attracted these players to spend less on other clothing companies like Neiman Marcus and Louis Vutton.
Surely enough, this data only encompasses a small margin of NBA players as a whole. Although it is likely players do indeed spend tons of money on clothes, not all players have the same spending habits.
To learn more about Personal Capital, click the link here.