Zoe Solomon Broke

1.The athletes need to understand a want versus a need.  They talk about buying all these nice cars that they barely even use.  If they don’t buy all the cars they want, they could save a lot of money.  They need one car.  And it doesn’t have to be that expensive.  They need to realize that they don’t need all that extra stuff just because it looks nice.
2. Andre Rison lost his money due to a mixture of ignorance and not being able to handle the trappings of fame and fortune.  He wanted to keep up with the spending of his teammates, but some of them made much more than him.  His income couldn't keep up with his spending.  He went crazy trying to live up to the lifestyles of those around him and lost most of his money.
3. 1) Put some money in bank for savings

    2) Get insurance on everything important (house, car, health, life)
    3) Prioritize needs over wants
    4) Set up a spending budget
    5) Don’t buy everything
4. The athletes weren’t the only ones suddenly making lots of money.  The financial industry was booming.  They believed they would be able to spend their money on anything because they would just get more when the next paycheck came in.  They didn’t expect the economy to go down.  They lived in the moment, forgetting that they were spending more money than they should have.
5. Age isn’t as big a factor as background.  When you’re young versus old, you could still have the same instincts.  If you grew up poor, and suddenly can buy anything you set your eyes on, you are going to want to get what you couldn’t have before.  Or maybe, you will have learned how to keep a spending budget and will keep using that.  It depends on what type of person you are that will impact how you handle money.
6. I think that Mike Tyson is not a sound financial athlete.  He spent huge amounts of money on everyone around him that he knew for no reason.  If he hadn't been so ignorant, he would've been able to avoid his financial struggles after his career ended.  I think Serena Williams is good with her money. She gives it away to good causes and helps others.  She invests her time and energy into many causes to give to the world around her.

7. In the video they said that performers want to be athletes and athletes want to be performers.  When they “make it rain” they are talking about just throwing away money to get whatever they want.  Some of the athletes said that they would wake up with money just lying around and would be giving hundreds of dollars away.  All the famous people influence others in one way or another.  They do influence each other, and whether they should or not doesn’t matter.  Each athlete grew up listening to all these performers, and believing them.  They are going to make an impact on their future decisions.