Charles Barkley, a retired basketball player, is telling younger NBA players to spend their salaries wisely and not squander on unnecessary and expensive cars. In an interview with PEOPLE, the Hall of Famer stated that he does not need to drive a flashy car because he is already well-known.
“I got a Kia,” the 60-year-old said. “People know who I am. I don’t have to drive an expensive car. They know me.” The former Phoenix Suns star also revealed he got that advice from former NBA star Julius Erving.
“Dr. J taught me that a long time ago. He said, ‘Son, don’t waste all your money on cars. Everybody knows who you are,’” he said. Barkley also said he has realized NBA players pay as much as $300,000 for a car. “I’m like, ‘Yo man, everybody knows who you are. You don’t have to show them,’” he said, adding that young athletes should rather save their earnings and “invest it well.”
The retired basketball player advised future sportsmen to help those in need financially. “I believe it is really essential to give back to your community,” he said. “It doesn’t mean giving all your freeloading friends and family members money, but that means you should really endeavor to accomplish meaningful things in your community. That’s important.”
He claims that high paydays for NBA players allow them to “transform not just your family,” but whomever they wish to financially assist. But he also mentioned the disadvantages of affluence.
“You have to really, really be careful,” he warned. “It’s interesting, I always sit back and I saw that… Money’s a great thing to have, but it causes a lot of problems in your life. Anytime money’s involved, crazy stuff is going to happen.”
Barkley also used his experience to shed some light on how to avoid going down the drain. He said the “number one thing you have to do” is to “learn to say no.” “Everybody’s coming for it. You have to learn to say no,” he added.