Money Moves April 13, 2021 at 04:00 pm

Here’s why NFL star Alvin Kamara has not spent a dime of his $75 million contract

Abu Mubarik April 13, 2021 at 04:00 pm

April 13, 2021 at 04:00 pm | Money Moves

NFL star Alvin Kamara. Photo credit: Wikipedia, EuphoricOrca.

National Football League (NFL) star Alvin Kamara recalls treating himself to a chicken wing diner when he received his signing bonus from New Orleans Saints. It wasn’t because he did not have access to the money but because he wanted to live within his means.

The 25-year-old four-time Pro Bowl running back, who has played in the NFL for four years, signed a lucrative deal with the Saints worth $75 million. That is enough money for anyone to spend well on himself or herself.

Instead, Kamara was conscious of the financial discipline his mom instilled in him and the difficult childhood life he experienced. He rather depended on the money he made from endorsement deals, he says in a recent interview for Uninterrupted’s “Kneading Dough” series.

“So, OK, boom. I get drafted, the numbers start coming like signing bonus, things like that. And I’m like ‘OK, this is more than I’ve ever had.’ My mom ain’t never had this much, my brother, my sister. So I’m like, ‘OK, it would be a shame if I got this and lost it,’ “Kamara says. “So I’m like, ‘I’m about to just keep doing the same thing I’ve been doing. What I need, and that’s it.’ You know what I’m saying? I’m not about to go over the top, I’m not about to live beyond my means.”

The NFL player says one of the significant values his mom taught him was knowing the value of a dollar and hard work. “As a kid, I saw my mom work multiple jobs only to be able to afford the bare essentials,” the Georgia native says.

He also explains that his mother’s background made him appreciate financial security; it has also made him a savvy spender. According to him, since joining the NFL four years ago, he was yet to spend any of his football money from either his rookie contract or massive extension with New Orleans. 

“I want to be a partner. I want it to be a real relationship to where it’s not just a one-off thing,” Kamara says. “All the brands that I work with I can call directly and talk to a CEO or somebody high up and have a regular conversation with them. It’s almost like a family. We’re working together, but we care for each other.”

Kamara is not only making good savings but he is also making sound investment decisions. Over the offseason, he backed a car in a NASCAR Xfinity Series race. He also became a co-owner of a Louisiana-based juice and smoothie brand, the Big Squeez.

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