Dwyane Wade Shares His Favorite Tips For Managing Money

Dwyane Tyrone Wade Jr. is a former American professional basketball player who spent most of his 16-year career playing for the Miami Heat of the National Basketball Association (NBA). The NBA star won three NBA championships, was a 13-time NBA All-Star, an 8-time member of the All-NBA Team, and a 3-time member of the All-Defensive Team. Wade is also Miami’s all-time leader in points, games, assists, steals, shots made, and shots taken. Wade is currently the host of the American adaptation of The Cube.

Coming out of high school, Wade was lightly recruited by colleges and accepted a scholarship to Marquette University. He had a breakout season as a junior when he averaged 21.5 points per game and led Marquette to an unexpected berth in the Final Four of the National Collegiate Athletic Association men’s basketball tournament. Wade was named a consensus All-American and decided to forgo his senior season to declare for the 2003 NBA draft, in which the Heat selected him as the fifth overall pick.

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Wade led the Heat to their first NBA Championship in his third season and was named the 2006 NBA Finals MVP. At the 2008 Summer Olympics, Wade led the United States men’s basketball team, commonly known as the “Redeem Team”, in scoring and helped them capture the gold medal. Wade was selected as the NBA All-Star Game MVP in 2010. With LeBron James and Chris Bosh, Wade helped guide Miami to four consecutive NBA Finals from 2011 to 2014 and won back-to-back championships in 2012 and 2013.

Former professional basketball star Dwyane Wade made millions of dollars playing for the Miami Heat for 16 years. But in an interview with Men’s Health magazine, he credited his financial advisor, who he doesn’t name, for helping him get to a good place financially in his post-NBA career. Wade told the magazine that he used to have a gambling problem, losing a lot of money playing cards with his teammates on airplane rides.

Mikhail Nilov/ Pexels | The most difficult thing is the decision to act; the rest is merely tenacity

Since then, Wade has been serious about proper money management and shares his favorite money management tips: 

Invest in yourself 

One of the most consistent and highest-performing investments you can make throughout your life is in yourself. That is to say, one of the best ways to use your available capital, whether financial, social, or human, is to focus it inward and use it to turn yourself into the most complete, capable, knowledgeable, and employable person you can be. 

Mikhail Nilov/ Pexels | You must gain control over your money, or the lack of it will forever control you

Take courses

Money management courses prepare couples for decisions about credit, loans, insurance, retirement, and investments. The information learned in a money management course equips you to ask the right questions and understand the consequences of your decisions.