Golden State Warriors standout and savvy tech investor Andre Iguodala wants to help fellow NBA players hold on to their money and prepare for life after professional basketball.
"[In] the majority of NBA players' upbringing, there's not much financial education," Iguodala told CNBC's "Squawk Box" Tuesday. "When you get to college, they're never teaching you how to start a credit line or get a loan on a car, things of that nature."
There are horror stories all the time about pro athletes losing all their money. Last week, three-time NBA All-Star Antoine Walker shared his story with CNBC about how he made more than $108 million but filed for bankruptcy two years after retiring from the league.
For his part, Iguodala, who's on a $48 million four-year contract, stressed the importance of saving money. He used an example from his life to make his point.
"I do have a cracked phone," he admitted. "I didn't feel like I should buy another one. ... I have my vices, but I try to save as much as possible."