LeBron James says he has to set limits for his money, even with his own family:
On Tuesday, Chase and media company Uninterrupted launched its “Kneading Dough” podcast series, which will showcase previously unreleased audio from stars like Serena Williams and Lindsey Vonn. The inaugural podcast featured an interview with LeBron James, parts of which had not previously been released on the company’s 2018 video series of the same name. And, frankly, James could teach every American a thing or two about how they should manage money.
‘If they gave me a dollar, they’d be like, nephew, just spend 35 cents of it and keep the other 65. ... So I’m [now] always in my head about saving.’ LeBron James Research shows he may be spot-on with that, as monetary rewards may demotivate people. Indeed, a meta-analysis of 128 studies revealed that “tangible rewards had a significant negative effect on intrinsic motivation,” at least for interesting tasks . Further studies show a similar trend.
When Maverick Carter, James’s business partner, asks the basketball star why he never talks about money, James says that came from his upbringing at “the bottom,” in a very poor part of Akron, Ohio, where it was his uncles who taught him about saving money. “If they gave me a dollar, they’d be like, ’Nephew, just spend 35 cents of it and keep the other 65,’ ” James says. “So I’m [now] always in my head about saving.
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