Moneywise

Tue, Jun 10, 2025, 4:17 PM6 min read

Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.

Although he hit the jackpot with a massive $255 million contract in 2023, Philadelphia Eagles quarterback Jalen Hurts still lives like a humble college student. He rents an apartment in Cherry Hill, New Jersey, for just $2,000 a month, according to a report from The Sun.

“I didn’t buy a house or anything like that when I got drafted because it was just me,” the superstar told GQ in a 2021 interview. "I didn’t need this big place just for myself. I just got myself a little apartment. You know, something smooth that’ll last me for the time being."

• Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how

• BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis

• Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10)

Hurts’ intentional choice to rent a bachelor pad rather than splurge on a luxury penthouse or sprawling mansion is a standout example of financial discipline and living within one's means.

Here’s how a similar approach could help you chart a path to financial freedom.

Given that each NFL season lasts for just 18 weeks, athletes like Hurts don’t necessarily need to purchase property near their workplace. His deliberate decision to rent is an example of needs-based budgeting.

According to the University of Pennsylvania, this budgeting technique focuses on securing essential spending needs first before moving onto saving, investing and indulging in luxuries.

Financial experts usually recommend spending no more than 30% of your gross income on housing and no more than 15% for car payments. Applying these limits while making purchase decisions could help you live within your means.

Budgeting and tracking can help you understand where your money is going, so you can make every dollar work for you.

With YNAB, you can track spending and saving all in one place. Link your accounts so you can see a big-picture look of your expenses and net worth growth. You can prioritize saving for short or long term goals — like a vacation or a down payment for a house — with the app’s goal tracking feature.

If you want to pay debts faster, you can create personalized paydown plans to calculate how much interest you’d save if you topped up your monthly payments with a little extra.