If you think personal finance advice from an NBA superstar doesn’t apply to you—think again.
Shaquille O’Neal, one of the greatest basketball players of all time, is known for his dominance on the court. But off the court? He’s built a financial empire that’s just as impressive.
What’s even more remarkable? He didn’t start as a financial genius. In fact, Shaq made some of the same mistakes many of us do—overspending, not budgeting, and thinking the money would always be there.
Here’s what he learned—and how you can apply it to your own life, even if you’re not cashing seven-figure cheques.
1. Understand What You Have—and What You Need to Keep
Early in his career, Shaq famously blew $1 million in a single day. Two cars, some jewellery, a shopping spree. It was fun… until his bank called to remind him about taxes, agent fees, and expenses. The message? Just because money comes in, doesn’t mean it’s yours to spend.
Lesson for you:
Know your real income. Understand what you earn after tax, superannuation, loan repayments, and living costs. Having money in your account doesn’t always mean you can afford it.
💡 Quick tip: Create a monthly “essential vs. lifestyle” spending breakdown. You might be shocked at where your money actually goes.
2. Educate Yourself About Money (No One Else Will Do It for You)
Shaq realised he lacked financial literacy—and he did something about it. He went back to university, got his MBA, and started learning about business, investing, and money management.
Lesson for you:
You don’t need a finance degree, but you do need a baseline understanding of how money works. That includes budgeting, interest rates, compound growth, superannuation, and how tax affects your income.
🧠 Start here: Check out MoneySmart by ASIC for free, easy-to-understand resources on financial basics in Australia.
3. Invest, Don’t Just Spend or Save
Shaq didn’t just save his money—he invested it. He now owns shares in companies like Google (he got in early), hundreds of franchise businesses, and a portfolio of real estate across the U.S.
Lesson for you:
If your money is sitting in a savings account, it’s likely losing value due to inflation. Investing helps you build wealth over time and puts your money to work.
📈 Even small investments count. Start with your super—do you know where it’s invested? Could you be doing better?
4. Use a Simple Rule: Save First, Spend What’s Left
Shaq lives by a simple rule: Save 75%, live off 25%. While that ratio might not work for most people, the principle is solid—pay yourself first.
Lesson for you:
Instead of spending and saving what’s left, flip the script. Set aside savings and investments automatically each month. Then spend guilt-free within your budget.
🔄 Automate it: Set up a transfer on payday to a savings or investment account. Out of sight, out of mind.
5. Surround Yourself with Good People (and Good Advice)
Shaq is open about the fact he doesn’t do it all alone. He has financial advisers, accountants, and mentors. But he also makes sure he understands their advice—so he can make informed decisions.
Lesson for you:
Financial planning isn’t just for the wealthy. If you’re earning, spending, or saving, you can benefit from expert guidance—especially when it comes to taxes, investing, property, or preparing for retirement.
🤝 Professional advice pays off. The right adviser can help you build a personalised strategy, avoid costly mistakes, and reach your goals faster.
Final Thoughts: It’s Not About the Millions—It’s About the Mindset
Shaquille O’Neal’s biggest financial strength isn’t his bank balance. It’s his mindset.
He chose to learn, to change his habits, and to invest in his future. And that’s something all of us—no matter our income—can do.
So ask yourself:
- Do you know where your money goes each month?
- Is your super working hard enough for you?
- Are you building wealth—or just working for money?
If the answer is “not really” or “I don’t know,” it might be time to take a page from Shaq’s playbook.
Ready to Start Building Your Financial Game Plan?
Don’t wait for a wake-up call. Talk to a licensed financial adviser who can help you:
✅ Understand your current financial position
✅ Build a plan to save and invest smarter
✅ Take advantage of government incentives and tax strategies
✅ Set clear goals for your future—whether it’s buying a home, growing your wealth, or retiring early
👉 Reach out today and take the first step toward a smarter, more secure financial future.
Bonus Resources:
Any discussion in this article does not take into account your objectives, financial situation or needs. Before acting on it, you should consider whether it’s appropriate to you, in light of your objectives, financial situation or needs.