Despite being one of the most expensive footballers today, Kylian Mbappé maintains tight financial habits.
A unique perspective on the financial story
Kylian Mbappé is a famous French striker. He currently plays for the Paris Saint-Germain club and participates in the 2022 World Cup with the French national football team. Although very young – born in 1998 – this player has had an illustrious football career when he won the 2018 World Cup with the French team. Besides, according to Edudwar.com, Kylian Mbappé has an estimated net worth. estimated at nearly 150 million dollars (more than 3.5 trillion). Total annual income is $43 million (over $1 trillion), according to Forbes.
Kylian Mbappé – Photo: Pinterest
Even so, Kylian Mbappé herself has never bragged about her fortune. His mother – Fayza Lamari – shared: “Kylian never carries a credit card or cash with him. Sometimes I say to my children: “Don’t you want 200 euros (over 5 million) in your pocket?” Then the boy will reply, “Never mind. I just go out and play football.” I always advise my children, “Enjoy what you can in this world, but always remember it’s all not yours. It doesn’t matter if the 10 of us go to Grandma’s apartment and eat chicken.”
Fayza Lamari said that when boys first earned money, they all saved it: “We didn’t touch it for three years. We have “poor man syndrome”. I always fear that one day I will wake up and they will say to me “Give me my money back!”. We just started investing a year ago. The family feels very lucky to have money, but it is not the end goal. It’s great that we no longer have to depend on family and friends for money. But Kylian doesn’t play football for the money, otherwise he wouldn’t have achieved those achievements.”
Besides, in an interview with Paris Match, Kylian Mbappé shared that he always values experience over money. Relationships between people are much more important than money. In the end, experiencing life is the most meaningful thing, much more meaningful than making money. What Kylian Mbappé yearns for are new discoveries, trips, meetings with players, understanding different cultures… “ I have a ‘silent’ relationship with money. : I know it’s important, I’m happy to have it, but it’s not what motivates me every second of the day.”
Photo: Pinterest
Things to keep in mind when using a credit card
Not using a credit card like Kylian Mbappé is one way to avoid uncontrolled spending times. It’s like you borrow money up front, then pay it off when it’s due. However, if you miss that time, you may have to pay a huge additional interest. Besides, the use of credit cards also makes many people unable to imagine their own financial capabilities and often overspending.
However, credit cards are now almost a popular payment tool among young people. Therefore, to avoid unnecessary mistakes, be more careful when using them.
1. Credit card debt
If you have the wrong mindset about credit cards, you can easily borrow more than you can repay. A line of credit should be thought of as a loan the credit card provider extends to you rather than free money to spend. Every time you don’t pay in full during the billing cycle, you will have to pay many times more interest. This can make it difficult to get out of credit card debt.
Here’s how you should think about using your credit card: If your credit limit is $10 million, this doesn’t mean you should plan to spend $10 million that month unless you can pay the entire bill immediately.
Pay attention to your spending and make sure you don’t buy more than you can afford. Consider creating a monthly budget and figure out how much you can spend each month.
Artwork: Pinterest
2. Missing Your Credit Card Payments
Your payment history is one of the biggest contributors to your credit score. So late payment or no payment can seriously affect your credit. Also, if you miss a payment, you will normally be charged a late fee.
One way to avoid this is to set up automatic payments. That way you won’t have to worry about forgetting to pay your credit card. However, you need to make sure there is always enough money on the card to pay. You can also set up a text or email reminder when your monthly bill is due.
3. Apply for too many new credit cards at once
Some young people often open a lot of credit cards. For example, when using this credit card and cannot pay, they will use another card to make up for it. That is, cash flows but only from one debt to another. This makes them not know how much money they owe and it also becomes more difficult to control their credit cards because there are so many bills to remember every month. This also affects your credit score, making it more difficult to approve loan applications.
Experts say that unless absolutely necessary, you should only open 1-2 credit cards. Also, consider checking your credit record to make sure you have a good credit score.
