When I didn’t have money, I didn’t understand the responsibility of having good credit, and the true value of a dollar. I remember back in the day, I would sign up for department store cards like the Bay, Eatons and Simpsons (yeah, you remember them stores?) and I didn’t think twice about it. I also didn’t realize those choices would come back and bite me in the long run. I learned quickly that it doesn’t matter how much money you eventually do have or make…your credit history is always a factor.

Whether it’s purchasing a home or getting a loan, often we don’t realize the damage that has been done until it’s too late! Credit management is something that needs to be taught to someone at a young age through example, practiced responsibly, and explained thoroughly. It’s something that will shape your opportunities and have an impact on your mobility and access.

Too often people will offer their name, co-sign a car or home, and offer financial assistance through lending their credit to a loved one or friend in need. While it’s a great gesture to help others out in this manner…how many stories do you know of people who have gone out on a limb to help someone achieve financial freedom…only to have them default on payments, or make bad decisions and leave the very person that helped them in a terrible situation? It happens all the time!

That being said, sometimes people are given credit from the bank or from credit card companies and get carried away with it on their own. Many assume that because the lender is giving them x-amount of dollars, that they are then given a license to spend it any which way.

It’s funny, because now that I’m in a position where I don’t have to worry about my finances, I am even more conscious about what I spend my money on! I am careful not to throw my money away into certain activities or habits, and instead choose to direct it to things or events that I love, and have long-term significance in my life. I pass up certain luxuries to make room for other priorities.

For example, the last vehicle I bought was in 2008! I don’t gamble, I don’t buy myself jewelry or allow myself easy access to liquid assets. In fact, I get an “allowance” that most people would probably laugh at. Having and upgrading multiple cars and wearing diamonds and platinum may be visually appealing, but I’m always thinking about making sacrifices now so that I don’t have to worry later, after my career in the NBA.

So often in the news we hear about people in the sports or entertainment industry who are blessed with millions upon millions…and somehow still end up broke and in debt. Over the span of my career I haven’t made nearly as much as some of these individuals, but I am extremely aware of the consequences of a lavish lifestyle and abuse of credit and financial freedom.

Be aware of how you use your credit, who you share your credit with and what you spend your money on. It sounds simple, but it’s a concept that so many people are either avoiding, or in denial about. Of course it’s great to have nice thing, and to look like you’re doing well, and to feel successful, but always remember that those feelings and that confidence is more about who you are than what you have. Take it from me, at the end of the day the only thing that truly feels rewarding is taking care of my friends and family. It’s a cliché, but it’s true.

The bling and the flossing and the illusions of wealth do not benefit anyone in the long run. Teach your kids from young. Remind yourself as an adult. Manage your money consciously and with the future in mind. Be responsible, and strive towards seeing our community build and maintain wealth.

I’d love to hear your feedback at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it . You are a part of my cultural community, and now also my professional community, and the reason why I contribute to this weekly column. This is my chance to communicate with you and hopefully continue to be an ambassador of the city of Toronto, the Caribbean culture, and a proud member of your Toronto Raptors.