Despite being one of the most expensive players today, Kylian Mbappé still maintains strict financial habits.
Unique perspective on financial stories
Kylian Mbappé is a famous French striker. he is currently playing for the Paris saint-Germain club and participating in the 2022 World Cup with the French national football team. Even though he is very young – born in 1998 – this player has had an illustrious football career when he and the French team won the World Cup in 2018. Besides, according to Edudwar.com, Kylian Mbappé has an estimated net worth estimated at nearly 150 million dollars. Total annual income is 43 million dollars, according to Forbes.
however, Kylian Mbappé himself has never bragged about his assets. his mother – Fayza Lamari – shared: “Kylian never carries credit cards or cash with him. sometimes I say to my child: “Don’t you want to have 200 euros (more than 5 million) in your pocket?” Then the boy would reply, “Don’t bother. I’m just going out to play football.” I always advise my children, “Enjoy what you can in this world, but always remember it’s not all about you. It’s okay if 10 of us go to grandma’s apartment to eat chicken.”
Fayza Lamari said initially when her son first earned money, they saved it all: “We didn’t touch that money for three years. We suffer from “poor man syndrome”. I always fear that one day I will wake up and they will tell me “Give me my money back!”. We only started investing a year ago. The family feels very lucky to have money, but it is not the ultimate goal. It’s great that we no longer have to depend on family and friends for money. But Kylian doesn’t play football for money, otherwise he wouldn’t have achieved those achievements.”
Besides, in an interview with Paris Match, Kylian Mbappé shared that he always values experience more than 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 craves is new discoveries, trips, meetings with players, learning about 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 drives me every moment of the day.”
Things to keep in mind when using credit cards
Not using credit cards like Kylian Mbappé is one way to avoid uncontrolled spending. It’s like you borrow money in advance, then have to pay it back when it’s due. however, if you miss that time, you may have to pay a huge amount of interest. Besides, using credit cards also makes many people not understand their financial capabilities and often overspend.
however, credit cards are now almost a popular payment tool for 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 considered a loan extended to you by your credit card provider, not 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 on your card is 10 million, this doesn’t mean you should plan to spend 10 million that month unless you can pay the entire bill at once.
Pay attention to your spending and make sure you don’t buy more than you can afford. Consider creating a monthly budget and figuring out how much you can spend each month.
2. Missing your credit card payments
your payment history is one of the biggest factors that contribute to your credit score. so late payments or no payments can seriously affect your credit. Additionally, if you miss a payment, you will typically 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 your card always has enough money to pay. you can also set up text or email reminders when your monthly bill is due.
3. Applying for too many new credit cards at once
some young people often open a lot of credit cards. For example, when using one credit card and not being able to pay, they will use another card to make up for it. That is, cash flow flows but only from one debt to another. This makes them not know how much money they owe, and controlling their credit cards also becomes more difficult because there are too many bills to remember every month. This also affects your credit score, making it more difficult to approve loan applications.
Experts say that if it’s not really necessary, you should only open 1-2 credit cards. In addition, consider checking your credit profile to make sure you have a good credit score.