Usain Bolt advises you to save 60 cents of every dollar you make

Usain Bolt of Jamaica
Jamaica’s Usain Bolt.

  • Jamaican sprinter Usain Bolt told CNBC his best money advice is to save more than half your pay.
  • The 8-time gold medalist wasn’t always good with money, he admitted.
  • “If you make $10, save $6, and then you can figure out what to do with the rest,” he said.
  • See more stories on Insider’s business page.

Usain Bolt has said that the most valuable personal finance lesson he’s learned is to save more than half of his pay.

“Then you can spend the rest and pay bills,” he told CNBC Make It. “I tell people if you make $10, save $6, and then you can figure out what to do with the rest.”

The 34-year-old Jamaican sprinter, who retired in 2017, admitted that he wasn’t always good with money, and splurged more than he’d have liked to on his journey to worldwide fame. He said he would have advised his younger self to save as much as he could, according to CNBC.

Bolt set out to make big bucks after his 2004 Olympic debut at Athens when he was just 18. He said he was fortunate to have a team around him that mentored him on how money worked, and that “really helped me to understand how to save.”

The track star’s fortune has placed him at number 45 on the Forbes list of highest-paid athletes.

He has delved into music production and raised a family since retiring. Still, he religiously works out despite not having to race because of a bet with friends that he’d “get fat” in retirement.

Bolt said that witnessing athletes dealing with long-term injuries opened his eyes to the troubling reality of what could happen if he had no savings.

He said the best career advice he’d received was from his father. “He said to me: ‘Son, anything you want, just work hard and be dedicated and you will be fine.’ And for me I’ve always lived by that,” Bolt said.

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Ted Cruz traveled to Jamaica for July 4th last year, defying public health guidelines during the pandemic, report says

Ted Cruz
Cruz is facing criticism for flying to Cancun as his home state of Texas grapples with severe winter storms.

  • The Washington Post reported GOP Sen. Ted Cruz traveled to Jamaica for the Fourth of July last year.
  • CDC guidelines at the time recommended Americans avoid nonessential travel.
  • The Post report came as Cruz faces criticism for traveling to Cancun as Texas battles winter storms.
  • Visit the Business section of Insider for more stories.

Sen. Ted Cruz traveled to Jamaica last year for the Fourth of July, despite public health recommendations to avoid unnecessary travel during the pandemic, The Washington Post reported.

Centers for Disease Control and Prevention guidelines at the time recommended Americans avoid nonessential international travel due to the risk of coronavirus transmission.

Sources told The Post the Republican senator was visiting a friend from college.

Cruz’s office did not immediately respond to Insider’s request for comment.

The news came as Cruz is facing criticism for flying to Cancun for a luxury vacation as his home state of Texas grapples with severe winter storms.

The senator was spotted Wednesday flying from Houston to Cancun, before returning home the following day amid outrage. While speaking to reporters outside his home, Cruz expressed regret for the decision to go.

“It was obviously a mistake and in hindsight I wouldn’t have done it,” Cruz told reporters, saying that it wasn’t his intention to diminish “the suffering and hardship other Texans had experienced.”

The storms in Texas left millions without power or clean drinking water for days, though as of Thursday many households had had their power restored.

Cruz has previously criticised Democratic politicians for flouting COVID-19 guidelines that they themselves had promoted.

“Hypocrites. Complete and utter hypocrites,” Cruz tweeted in December, after Democratic officials were found to be breaking their own coronavirus restrictions.

He also chided Austin Mayor Steve Adler, referring to the Democrat taking a “private jet” to Cabo San Lucas, Mexico.

“And don’t forget @MayorAdler who took a private jet with eight people to Cabo and WHILE IN CABO recorded a video telling Austinites to ‘stay home if you can…this is not the time to relax,'” Cruz tweeted.

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