Former No. 1 Pick Andrew Bogut Took Control Of His Finances To Prepare For Life After Basketball

When his contract expires in 2017, he'll also be 33 years old, so he likely will not have the chance at such a large contract again.

So, as Bogut told Grantland's Andrew Sharp, he decided to take responsibility for his money and personal needs by getting rid of unnecessary expenses and taking a finance class:

"I actually did a finance course through an Australian online university. I didn't do it for a degree. I did a full year's course on financial planning and financial management, which covered everything from budgeting to going through different investment criteria - stocks, bonds, and all that type of stuff. It really helped me. It basically gives you a little bit more than the basics, where you can manage yourself, and save that 30, 40, 50 grand you're paying someone to do this stuff for you."

Bogut said the revelation came to him when he was looking through his statements and saw a lot of unnecessary spending:

"I was reading through my statements and realizing how much I was paying people to do things I could do for myself. I want to do everything myself, just so when I retire, I can transition much easier, and stop paying people to do things that are, basically, daily chores and errands."

Bogut has made more than $80 million in his career since being drafted No. 1 overall in 2005.