Team Frugal: Jeremy Lin
Being frugal is about more than being stingy with your money. It means being prudent, smart and economical with your finances and career decisions. Every Tuesday, we share profiles of athletes that exemplify what it means to be A Frugal Athlete.
As an athlete it’s tough to settle down in one place and know you are going to be playing for a certain team for a set period of time unless you’re either a franchise player or have a no trade clause. Just look at the recent NBA offseason, it doesn’t matter who you are, you still can get traded. Sports are a business and the better you understand your contract and situation, the more prepared you will be.
When Jeremy Lin first entered the league he knew he couldn’t live like some of his teammates Carmelo Anthony and Amare Stoudemire. Those two players spent well over 20,000 dollars per month in living expenses. In the meantime, young Jeremy Lin was living on his brother’s couch until he knew for sure how his situation was going to play out with the team. If that’s not team frugal, I don’t know what is.
Even though he was making more than enough money, his contract wasn’t guaranteed nor his spot on the team. Why buy a place or rent a place and then have to deal with it once you get traded or even worse cut.
Jeremy Lin was both practical and economical in his situation. As a young player in your respective league especially one without the luxury of a guaranteed deal it’s important to keep your costs and distractions to a minimum. Many athletes can get put off track just by the glamour off the athlete world, especially in a city like New York.
Jeremy Lin although he’s come a long way from those humble beginnings has continued to live modestly. In addition, he has used his platform and brand to build his own portfolio. Lin became an early investor in Plays.tv, a game recording service for E sports, and has worked with multiple brands in part because of his marketing enigma both in the United States and Asia.