Dan T. Posted January 5, 2016 Share Posted January 5, 2016 As a breath of fresh air countering all those stories of ex-pro athletes becoming broke, I give you this from the Wall Street Journal. Why the Redskins Players Are So Frugal The surprise team of the NFL playoffs is comprised of highly compensated pros who drive beat-up cars and share apartments. by Kevin Clark There are few places more predictable than an NFL team parking lot: There’s a bunch of luxury cars, a spot reserved for the head coach and innumerable signs warning outsiders to park as far away as possible. You see those things in Washington too, but there’s also a conversion van, a bicycle, a handful of worn-out sedans and a beat-up old Mazdathat rolled off the assembly line more than two decades ago. That’s because the surprise NFC East champion Redskins have a group of stars who are obsessed with spending as little money as possible. “Maybe someday I’ll have enough saved and I’ll see what I can get,” said starting quarterback Kirk Cousins, who drives a dented GMC Savana passenger van to work. “But it’s better to buy appreciating assets than depreciating. No yachts, no sports cars.” The average salary for NFL players is roughly $2 million this season, but nobody seems to have told that to the Redskins. Washington, which hosts the Green Bay Packers in a wildcard playoff game Sunday, may be the most frugal team in the league. Two-time pro bowl running back Alfred Morris, who makes a base salary of $1.5 million this year, has taken to riding a bike to work and leaving it in his reserved parking space. On days when it’s too cold or otherwise inconvenient to cycle to the facility, Morris switches to a splashier ride: a 1991 Mazda 626, which he drove up from Florida as a rookie in 2012. He calls it his Bentley. Pass rusher Ryan Kerrigan signed a five-year, $57.5 million contract earlier this year. But he still shares his apartment in suburban Virginia with a roommate. “There are guys who take [saving money] to heart and try to live that frugal lifestyle,” said offensive lineman Tom Compton, who shared an apartment with Cousins for three years. Cousins said his thriftiness came easily. He worked a minimum-wage job while at Michigan State, picking up golf balls at a driving range, and was used to saving money. Knowing all about the short careers of NFL players, Cousins decided to spend as little as possible. More here: http://www.wsj.com/articles/why-the-redskins-players-are-so-frugal-1452014607?mod=yahoo_hs (Well worth the read, BTW.) Link to comment Share on other sites More sharing options...
clskinsfan Posted January 5, 2016 Share Posted January 5, 2016 Nice find. And a great article. I will be curious to see what car Cousins buys during this off season Link to comment Share on other sites More sharing options...
MassSkinsFan Posted January 5, 2016 Share Posted January 5, 2016 Thanks Dan! Love this article. Link to comment Share on other sites More sharing options...
Hail Em Up Posted January 5, 2016 Share Posted January 5, 2016 These guys "get it", hats off to them. Link to comment Share on other sites More sharing options...
skins4eva Posted January 5, 2016 Share Posted January 5, 2016 Great piece--highlights how bright these guys are. I think it's criminal that we don't do more as a country beginning in high school to teach our children about sound financial practices and the value of saving and compounding interest. It's just as criminal that the NFL doesn't go out of its way to help these young guys, many of whom are coming into vast sums of money, understand how easy it is to spend beyond your means over a small window of time and then be in financial straights for the rest of your life. I understand the temptation to spend what you earn and then some. You can very easily find yourself locked into a lifestyle that becomes a paycheck to paycheck proposition even when making well into the six figures. But, these guys have it right, and Kirk's quote about buying appreciating assets rather than depreciating ones was great. Link to comment Share on other sites More sharing options...
Dan T. Posted January 5, 2016 Author Share Posted January 5, 2016 I love the description of Kirk and Tom Compton's apartment: The pair moved into what Compton calls a low-rent apartment close to the facility. “It was a two-bedroom with a nice little breakfast nook,” added Compton, who is making $660,000 this year. “It was a hodge-podge of furniture, green couch, red chairs, a ton of fake trees throughout the house so there was sort of a jungle theme.” What their apartment may have looked like: Link to comment Share on other sites More sharing options...
Supreme Wu Posted January 5, 2016 Share Posted January 5, 2016 Pretty sure the teammate they got the furniture from was Cooley, heard him mention giving Cousins a couch or something. Link to comment Share on other sites More sharing options...
Larry Posted January 6, 2016 Share Posted January 6, 2016 Really glad to hear it. Thanks for the find. Me, I've always thought that the people who ought to be leading the way with this message was the NFLPA. In fact, I would think that the NFLPA really ought to be working to figure out compensation packages for their players that take a much more long-term view. Maybe the next CBA could mandate that every player's rookie salary actually gets paid to the player in 10 annual installments. (To encourage them not to blow it, and to cut the tax effects of a huge windfall of income.) Link to comment Share on other sites More sharing options...
allskinz Posted January 6, 2016 Share Posted January 6, 2016 Really glad to hear it. Thanks for the find. Me, I've always thought that the people who ought to be leading the way with this message was the NFLPA. In fact, I would think that the NFLPA really ought to be working to figure out compensation packages for their players that take a much more long-term view. Maybe the next CBA could mandate that every player's rookie salary actually gets paid to the player in 10 annual installments. (To encourage them not to blow it, and to cut the tax effects of a huge windfall of income.) There's a bigger problem at play.. Agents recommend their "friends" to manage their money.. follow the money trail. Link to comment Share on other sites More sharing options...
Renegade7 Posted January 6, 2016 Share Posted January 6, 2016 I'm down with being smart with your money, especially with how many athletes have lost it all and how quickly careers can end. Having said that, not sure how I feel about people making six and seven figure salaries sharing apartments in the DC area. I can think of a number of situations living up there where my parents made too much to get an apartment, but didn't make enough for one to cover the slack in case one of them lost a job or ended up on disability. We moved a lot. Is Alfred putting money in that car yet? I've had a ball joint pop out on me before, completely changed my perspective on "saving money" with inexpensive vehicles (could've been a different story if I had taken the interstate like I planned). Kirk, I love you man, but you aren't making minimum wage anymore, bro. Stay efficient with your money, I've had situations where it cost me money being cheap (I really don't know how else to say that). Link to comment Share on other sites More sharing options...
Mr_ Skinshead Posted January 6, 2016 Share Posted January 6, 2016 Pretty sure the teammate they got the furniture from was Cooley, heard him mention giving Cousins a couch or something. I hope Captain doesn't catch anything from Cooley 's couch. Link to comment Share on other sites More sharing options...
mossomo Posted January 6, 2016 Share Posted January 6, 2016 I hope Captain doesn't catch anything from Cooley 's couch. A hot cheerleader is always a good catch. Link to comment Share on other sites More sharing options...
Dan T. Posted January 6, 2016 Author Share Posted January 6, 2016 Is Alfred putting money in that car yet? I've had a ball joint pop out on me before, completely changed my perspective on "saving money" with inexpensive vehicles (could've been a different story if I had taken the interstate like I planned). I actually saw Alfred's car a year or two ago. It was on display at the DC Auto Show. A Mazda dealership did a overhaul on it for him. It still looked like a regular old car that was kept in good shape though. Link to comment Share on other sites More sharing options...
Alaskins Posted January 6, 2016 Share Posted January 6, 2016 LOVE, LOVE, LOVE This. Good on our guys!!! Link to comment Share on other sites More sharing options...
asnpcwiz Posted January 6, 2016 Share Posted January 6, 2016 I'm all for saving money but this is a bit crazy. I don't think they need to spend all their money, but come on man...you aren't in college anymore. Don't go buy Bentley's, but a nice $50-70k Acura, BMW, Benz, or something respectable wouldn't hurt. Otherwise, what's the point of making all that dough?!? Just learn to live within your means, and not excessively out of it. Go work an office job or teach football rather than put your health at serious risk on a weekly basis for a bike or to share an apartment. Link to comment Share on other sites More sharing options...
Supreme Wu Posted January 6, 2016 Share Posted January 6, 2016 Really glad to hear it. Thanks for the find. Me, I've always thought that the people who ought to be leading the way with this message was the NFLPA. In fact, I would think that the NFLPA really ought to be working to figure out compensation packages for their players that take a much more long-term view. Maybe the next CBA could mandate that every player's rookie salary actually gets paid to the player in 10 annual installments. (To encourage them not to blow it, and to cut the tax effects of a huge windfall of income.) NLFPA is the saddest excuse of anything I've ever seen. They're a bunch of lummoxs getting consistently and thoroughly rail-roaded by billionaires that laugh at how much money they're printing each day. My goodness, if players had an actual competent professional care-giving association looking after them. Link to comment Share on other sites More sharing options...
Baughlin' Posted January 6, 2016 Share Posted January 6, 2016 Great article about our guys using their head except... WHY ARE YOU GOING TO CHIPOTLE RYAN KERRIGAN?!?! We need a mole posted outside every Chipotle in Ashburn until we're eliminated with a SWAT team for backup. Link to comment Share on other sites More sharing options...
TheGreatBuzz Posted January 6, 2016 Share Posted January 6, 2016 It reminds me of how Gronk handles his money. I've heard he hasn't touched a dime of his NFL money, instead living off of endorsement money. Mad respect for that guy, even if I hate his team almost as much as the Cowboys. Link to comment Share on other sites More sharing options...
autoidiodyssey Posted January 6, 2016 Share Posted January 6, 2016 Pretty sure the teammate they got the furniture from was Cooley, heard him mention giving Cousins a couch or something. Cooley is talking about it on his show now. It was all his stuff. When he bought his house it was the model house and came with all of the furniture that he didn't want. Link to comment Share on other sites More sharing options...
skins island connection Posted January 7, 2016 Share Posted January 7, 2016 If it does anything, it shows everyone this organization isn't fixated on drawing attention to themselves. The roommate thing is a great idea; it keeps both guys from getting into any 'issues' that are on stand-by, waiting for them to slip up. If Cousins likes his minivan, so be it. He, nor anyone else isn't looking to impress anyone off the field, just on the field baby, and they're doing a damn good job of that ! In fact, they should be the poster children for rookies coming into the league; show these yung-uns the right way to live and have some money AFTER football, or their career, is over. Link to comment Share on other sites More sharing options...
pjfootballer Posted January 7, 2016 Share Posted January 7, 2016 Breath of fresh air if you ask me. Their careers are so short. They need to save all they can. Link to comment Share on other sites More sharing options...
jpillian Posted January 7, 2016 Share Posted January 7, 2016 As if I didn't love these guys already. Great article, OP. Link to comment Share on other sites More sharing options...
Zazzaro703 Posted January 7, 2016 Share Posted January 7, 2016 Very reassuring that we have a bunch of guys that are also smart off the field. Just another step in building a foundation of players that will keep us competitive for years to come. Link to comment Share on other sites More sharing options...
Burgold Posted January 7, 2016 Share Posted January 7, 2016 Good for them. That's the smartest way to be esp. if the career is going to be short. Reserve 10% for fun, but be serious about the rest. Link to comment Share on other sites More sharing options...
roanoker Posted January 7, 2016 Share Posted January 7, 2016 Kudos to the players. Lol - I wish I had the means to stash away a bunch of cash. As it is, the rats run around my house with tears in their eyes. Link to comment Share on other sites More sharing options...
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