NBA Hall of Famer Charles Barkley has been very candid about his financial blunders. In the world of the NBA, where players were chasing material wealth and extravagant possessions, Barkley entered the league with a contract worth two million dollars. The Round Mound of Rebound eventually became a key player for the Philadelphia 76ers garnering the attention of NBA fans and the business world as well. Barkley grabbed various endorsement deals providing him with millions of dollars.

However, he lost a majority of the same to his poor spending habits and his love for materialistic possessions. Nevertheless, an NBA legend shared some words of wisdom with the 11-time All-Star. He changed Barkley’s perspective by making him leave some of his materialistic possessions. Which NBA legend are we talking about?

Barkley recalls the words of wisdom that changed his perspective forever

Barkley developed some poor spending habits at the beginning of his career. In addition to this, the Chuckster also bought five to six expensive cars, that cost him a good chunk of his NBA earnings.

In a recent episode of the podcast Spittin? Chiclets, the 60-year-old NBA legend shared an incident when an NBA legend taught him a lesson. When Barkley joined the 76ers, the team had some great veterans in Dr. Julius Erving and Moses Malone. The 1993 NBA MVP shared an incident when Dr. J made him give up his cars.

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Once Dr, J asked Barkley “Son, how many cars do you got?” To which, Barkley answered 5 or 6. Dr J added, “How many of them you drive at the same time?” Barkley said, “One.” Dr J advised the forward to return the other cars back. This advice transformed Barkley with his finances and made him avoid his futile spending. Despite losing $20 million, he gave up all his other cars. How did Charles Barkley lose this much money?

Charles Barkley lost $20 million, only for the love of thrill

Back in the 80s, Barkley developed a habit that made him lose one-third of his net worth. The 1991 NBA All-Star MVP had many trips to Vegas gambling on big amounts. Barkley was thrilled with the fun of it as he landed some profits in millions. However, when things started going south for Barkley, he was not able to bounce back. Barkley admits that his love for gambling has made him lose about $20 million which is one-third of his net worth of $60 million.

Charles Barkley struggled earlier with his gambling habits and extravagant materialistic possessions. However, wise advice from Dr. Julius Erving made him reflect on his careless spending and changed his perspective completely.

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