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Lockout triggers need for austerity plans
NFL players anticipate possibility of not receiving paychecks, cut spending
Question of the Day
@-Text.normal:MARCO ISLAND, Fla. (AP) | Don’t buy that car. Shorten that vacation. Eat at home.
Whatever they do, NFL players have been warned for years about the need to save and the importance of budgeting their money in case of a work stoppage.
Well, the lockout is here.
“We’ve been hammering the point home for two years that you have to be careful and you have to be prepared,” Browns linebacker Scott Fujita said. “Guys I know have made concessions.
“There are always a few guys you have to be concerned about, that you think might not have taken the right steps. It’s a part of the education process. Maybe you have to spoon-feed them on filling out direct deposit slips or coaching them on a change of lifestyle.”
But Pitts notes it also needs to have limitations, more so when the players have no money coming in from the owners because of the labor stalemate.
“The guys in the locker room call me the cheapest guy around,” Pitts said with a laugh, “but you have to be wise with your money. You can live a great life and still be careful and still be smart.
“I tell guys, ‘Why do you need that $250,000 car? A Mercedes is a great car and it’s $85,000. You can afford that on your salary, and what’s that [$250,000] car going to do for you?’ “
Willie Colon didn’t need that advice; he already had decided to stay out of the automotive market this offseason.
The Steelers tackle, who missed the 2010 season with a torn right Achilles tendon, had thoughts of purchasing a new car for himself and one for his brother.
“I wanted to buy a car for my brother because his car is beat up,” said Colon, who earned $2.198 million last year. “But I told him this is not the year to make a lot of moves, especially with me being a [restricted] free agent and the lockout.”
Colon, who is single, also said he is eating out less and being responsible with his money, something he admits wasn’t always the case.
“When I was coming into the league as a rookie and I was able to get a signing bonus, I was somewhat dumb in spending it,” he said. “You know, you are a kid right out of Hofstra and you come into some money. But now, my adviser will always be in my ear. They educate you on how much is important to spend and what is important not to spend it on.
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By Matt Kibbe
The short-term deal will assure long-term overspending
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