Stories hit the news every day about celebrities who made a fortune and then squandered it all. One sports star who has made a decision not to let this become his story is NASCAR driver Aric Almirola. The Cheat Sheet chatted with Almirola to learn more about his quest for financial security.
The Cheat Sheet: What prompted you to start learning about personal finance?
Aric Almirola: I started learning about personal finance at a really young age. My grandfather took us racing, and we left our race shop with a budgeted amount of cash. That was the cash we had to put gas in the truck that pulled the trailer, buy our pit passes, get food from the concession stands, and all of the things we needed when we were out racing. So I learned about budgeting and personal finance really early on in life. And, with my own personal finance, I got a crash course in finance as soon as I left college. Once I told my parents I was leaving college to follow my dream of becoming a professional race car driver, they said that if I wanted to move away from home and quit school then I was on my own. I had to figure out how to start paying for my own truck payment, insurance bills, cell phone bills, rent for an apartment, and everything that you need to survive on your own. So that forced me into learning how to manage my personal finances.