Team Frugal: Shaquille O'neal
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 individual or athlete the only way to constantly grow is to never stop learning. Whether it’s perfecting your free throw form to improve your free throw percentage or continually taking classes to achieve an advanced degree or even surrounding yourself with smart individuals around you to better yourself. The best players and business individuals continually evolve and find ways to improve.
Shaquille O'neal was always going to be a star on the basketball court. With his marketable personality and dominance on the court, Shaq was able to garner hundreds of millions of dollars through salary and endorsements. What is most important about Shaq and why we highlighted him as our team frugal edition is what he learned after early spending habits.
Shaq consistently reminds people about the time he spent 1 million dollars in a day. He uses a personal experience to highlight the importance of prudent financial practices.
Shaq credits a financial advisor who gave him much needed advice to heed his spending habits. Shaq was smart by taking the advice and putting his ego aside. A millionaire who is in the prime of his career, realized that in order to prosper he needs to surround himself next to smarter people than him. For all his accolades and championships, Shaq realized that if he continued on his spending path he would soon be another broke athlete.
If an all time Hall of Fame basketball player like Shaq can learn to become more frivolous in his spending habits, we can too.
Today, Shaq has continued to surround himself with a good team and push himself to reach his lofty aspirations. His business portfolio includes stakes in Vitamin Water, Google, Muscle Milk, Five Guys, 24 Hour Fitness, and multiple car washes. He also has long standing endorsements with Gold Bond and Icy Hot. To top it all off, Shaq continued his education and has a PHD.
It just goes to show that no matter how well you are currently doing, you can continue to seek ways to improve.