Crazy Money! Charles Barkley’s Financial Lesson and Advice

It’s Crazy Money Day! 

Charles Barkley of NBA fame learned to handle money the hard way. Young and wealthy beyond wisdom, Barkley spent impulsively. He gambled millions, once losing $2.5 million in several hours! He spent nearly $30,000 on his clothes in one day, more than anyone in his family had earned in their life, and he bought cars.

Julius Erving, or Dr. J, saw the red flags and gave Charles some strong advice. Barkley says the encounter went like this. Dr. J said, “How many cars do you have?” Charles said 5. “Well, how many of them can you drive at the same time? Why do you have 5 cars?” Charles didn’t have a good reason. “Son, take all those cars back and get one nice car. You’ve got $400,000 sitting around in your driveway. That money’s going to be worth millions if invested properly.”

Now in his 60’s, Barkley wants younger athletes to learn to think long-term. He tells them to have 1 car and 1 house. Invest wisely and avoid falling into a lifestyle trap. Barkley’s estimated net worth is now around $70 million. He’s one of the most financially stable of the former NBA players. That’s crazy!

Friends, when tempted to buy something we don’t need or can’t afford, let’s remember this lesson. As the Apostle Paul said in 1 Corinthians 10:13, no temptation is unique, and God always provides a way out. Self-control is key in finding financial freedom.

Come join us September the 10th through the 12th in beautiful Knoxville, Tennessee. We plan to celebrate all that God has done through Crown over the last 50 years. Learn more at crown.org/50years.