How to Avoid Ending Up Broke Like Dennis Rodman

“…that we may lead a peaceful and quiet life, godly and dignified in every way. This is good, and it is pleasing in the sight of God our Savior…” 1 Timothy 2:2-3 ESV

dennis rodmanI don't pretend to know Dennis Rodman. What I know of him is what's been portrayed in the media and the persona that he has shown the world. He's often seen doing some wild things on camera and has been termed the NBA's “bad-boy”.

Having earned millions during his playing career and through endorsements, Rodman has ended up broke and unable to pay his spousal and child support. His own lawyers are working pro-bono.

Rodman is not the first celebrity who has lost it all. Sadly, he probably won't be the last. There's also many of us out there who are facing similar situations as Rodman. We're near our own financial ruin.

But, there is always hope. And, I think there are a few things we can do that may help us avoid ending up broke like Rodman.

  • Avoid the prideful heart
    The Bible tells us pretty clearly that while man may plan his ways it's ultimately the Lord who directs his steps. First thing I want to say is that we can not become too proud of our own efforts to establish financial wealth. Ultimately, it is the Lord who gives and takes. Most people will readily admit that “luck” had more to do with their successes than their knowledge or wit.
  • Avoid judging
    It's very easy for me to pass quick judgments on people. Sometimes when I see a person paying with welfare checks at the grocery store, my thoughts are too quick to consider them lazy and a free-loader. I do not know their situation and it's foolish to think I do.
  • Be grateful
    I think one of the real keys to an authentic Christian life resides in living with gratitude. Being mindful of what you have, where you are and who you are as a child of God is prevention against all sorts of coveting and unhappiness.
  • Live modestly and quietly
    I sometimes envy the life of the wealthy and famous. It's a tempting desire. They seem to “have it all”. But from the verse above, God seems very pleased with a quiet and peaceful life. Living modestly will trickle down into every aspect of your life, including your finances.
  • Work with a purpose and a mission
    I chose my words carefully because I know that a lot of us tend towards over-working. When you work with a purpose and a mission, money seems to take care of itself. I know this is cliche, but I have found that most people who are doing what excites them – eventually find their needs getting met (and not just financially).
  • Don't go it alone
    Lastly, people who have a community – whether that be family, friends or organization – will have a great support system in place should they fall on hard times. Lean on these people when the going gets tough.

Do you have any suggestions for not ending up broke?

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  1. Along with living modestly and quietly, I would add humbly. We should recognize that everything we have is given to us by God and it can be taken away just as quickly. Also, we should be so humble to use our good qualities and talents to improve the lives of others.

    Humility is such a rare quality today, especially among the famous.

    • Good word Ryan.

  2. No offense, but I don’t think most of your tips really apply to Dennis Rodman’s case. By the sounds of it he got caught up living the party lifestyle that eventually became beyond his means. I suspect he probably has some emotional problems that makes him feel the need to continue that lifestyle. He is probably going through some of the same things seniors go through when they retire. On top of this, he never was a top earner in basketball yet he would’ve been surrounded by ones who were. So he’d have all kinds of pressure on him to keep up with the Jones’, or the the Jordans and Pippens in this case.

    • This is probably all true MM. However, it really all comes down to owning our finances and being “modest” with em – no matter who we are. I’m certainly not trying judge Rodman harshly. I do think if he applied these principles before he went broke, he’d likely not be seeing his present problems.

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