Before LeBron James exploded onto the basketball scene, he and his single mom were struggling to make ends meet. Raised on welfare in Akron, Ohio, they moved from a single apartment for the next every single few months and fed themselves with food stamps.
While he did not have much as a kid, he discovered the way to handle the tiny income he did have, due to early funds lessons from his uncles.
“My uncles often taught me – they taught me how to possess a savings account,” James told Maverick Cater on a brand new episode of “Kneading Dough.” “They’d give me a dollar and they’d be like, ‘Listen nephew, go commit 35 cents of it and maintain the other 65.’ Or, if they gave me two dollars, they’d be like, ‘Go ahead and commit a dollar of it, but stash the other dollar.’
“So I am usually in my head about stashing and keeping my money sacred and to myself since I did not know when my uncle was going to give me yet another dollar right here and one more 50 cents right here.”