Dallas Cowboys wide receiver Dez Bryant has been making headlines for off-field issues since college. Earlier this year, two jewelers alleged Bryant owed them more than $800,000 for jewelry, sporting event tickets and loans, according to USA Today. He settled one lawsuit, but the other is ongoing, WFAA-TV reported last month.
Chasnoff works with athletes to help them avoid excessive spending and to figure out how much they can afford for housing, food, clothing, entertainment and investments.
"These are habits that any individual needs to get into," Chasnoff says. Even athletes flush with money need to pay monthly costs like gas or electric bills and allocate funds toward long-term wealth management before spending cash on leisure and investing projects.
"Most people will be financially stronger if they live within a plan," Chasnoff says.