Brandon Lloyd isn't really one to talk much after a game -- even if he caught 10 passes for 190 yards in that game, like he did without much post-contest commentary on Sunday. But the Patriots' receiver has something to say about the way athletes handle their money, and he's hoping young pros and young people are listening.
"You give a 22-year-old millions of dollars, you're going to make really poor decisions. Period," Lloyd tells Yahoo! Sports in a video clip available here, which shows him cautioning a school group in Lowell about the importance of managing money. It also shows him explaining through the example of the Hummer H2 he bought himself soon after signing his first NFL deal that it is possible for athletes to be smart about their finances while still enjoy the luxuries afforded by seven- and eight-figure salaries.
"An opportunity to earn more money presents more challenges. As long as I'm saving towards a goal, I always feel like I can have my stuff on the side," he says in the video. "It's fine to want things; it's fine to have things if you're into that. But having goals to purchase what you want, and having a plan to save what you earn, is the key to it."
When contract issues were part of the reason he was traded from Denver to St. Louis in 2011, Lloyd said "the way teams show their appreciation to a player in this business is to pay them accordingly." He didn't subsequently stay with the Rams for long, signing a three-year, $12 million pact with the Pats prior to 2012, and as part of his quest to make sure that other players appreciate the appreciation being shown toward them he made the November visit to Lowell High School as an ambassador for the National Financial Educators Council's Money XLive.
That program encourages young adults to educate themselves on matters of personal finance, and aims to arm them with the knowledge and confidence to take effective action in the future. For a pro football player, that apparently includes knowing where to invest money -- and avoiding making deposits never to be seen again.
"That's the first thing that needs to be said to NFL players," Lloyd said. "You're going to give someone money, and they ain't gonna pay you back."
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