Michael Bennett: The Financial Wisdom Of A Football Star

Football star Michael Bennett of the New England Patriots seems to be aware of the fact that his time as a high earner as a football player is limited, compared to other, less physically intense professions. In a recent appearance on the podcast Kneading Dough, he shared the surprising fact that he makes it a habit not to cash any of his substantial paychecks during the season, holding them all until the end and living on his earnings from the previous years. This unique approach to finances highlights Bennett's awareness of the financial challenges that can come after a sports career.

He stated, "I keep my checks until the end of the season to make sure I don't spend any money. And then at the end of the season, I deposit it." With a reported total career earnings of $59 million, Bennett has the luxury of adopting such a strategy, but it wasn't always easy for him. He learned the importance of being financially responsible from a young age, taking on various jobs to save up for necessities.

Bennett's story is not just about saving money; it's about understanding the value of hard work and planning for the future. He recalls, "I had different jobs, and I used to save my money to buy me and my brother's school clothes…I worked at a water park, a grocery store, and most of the time I was a lifeguard. I was a lifeguard for four years." This experience shaped his perspective on finances and the necessity of budgeting, a lesson that resonates with many, especially in today's world.

Table of Contents

• Biography
• Financial Wisdom
• Brother Martellus
• Personal Finances
• Final Thoughts

Biography

Financial Wisdom

Michael Bennett's unique approach to finances reflects a deeper understanding of the challenges athletes face after their careers. By not cashing in his paychecks during the season, he ensures that he doesn't overspend and remains financially stable throughout the year. This practice encourages others to think carefully about their earnings and spending habits.

His method serves as a reminder of the importance of saving and budgeting. Bennett embodies the principle that it's not just about earning money but also about managing it wisely. By living off past earnings, he prepares himself for the unpredictable nature of sports careers, where injuries and cuts can significantly impact financial stability.

Brother Martellus

Interestingly, Bennett's financial habits seem to run in the family. His younger brother, Martellus, who also played for the Patriots, shares a similar mindset regarding money. Although he doesn't hold onto his paychecks like Michael, Martellus emphasizes a minimalist lifestyle, expressing, "I don't really buy anything…I haven't really paid for anything in like the last four years."

Martellus attributes his financial discipline to realizing that material possessions don't equate to happiness. He owns his house and values experiences over things, a philosophy that is increasingly relevant in today's consumer-driven society. His approach offers valuable lessons on prioritizing financial freedom and long-term security.

Personal Finances

When it comes to personal spending, Martellus has one notable exception: books. He enjoys purchasing books and has built an impressive collection of around 3,500. He humorously states, "If Mark Zuckerberg could read one book every two weeks, and he’s running an almost trillion-dollar empire, then one thing that little old me could do is read one book every two weeks." This perspective highlights the importance of lifelong learning and personal development.

Michael Bennett, on the other hand, hasn’t shared much about his personal spending preferences. However, he once recounted a lesson learned after buying a home in Seattle just days before being cut from the Seahawks. This experience taught him the importance of being cautious with major investments and only committing to locations where he intends to settle down permanently.

Final Thoughts

Michael Bennett's financial approach serves as an inspiring example for athletes and anyone navigating financial challenges. His emphasis on budgeting, saving, and financial awareness highlights crucial lessons that extend beyond the world of sports. By sharing his experiences, both he and his brother Martellus encourage others to think critically about their finances and prioritize long-term stability over short-term pleasures.

Their stories remind us that financial wisdom is not just about how much you earn but how well you manage your money. In a world where overspending is rampant, adopting a thoughtful approach to finances can lead to greater peace of mind and security for the future!