Serena Williams shares best financial advice her father shared with her as a child

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Serena Williams shares best financial advice her father shared with her as a child

Serena Williams has not only won a lot of Grand Slams - the second most in singles by any tennis player - she has also earned a lot of money from winnings on court and her endorsements off court. She has career earnings of more than $92.7 million - that is more than double the next player on the all-time WTA prize money list - which is her sister Venus Williams.

Besides that, 23-time Grand Slam champion has earned millions more through her endorsements.

Serena Williams shares the best financial advice her father gave her as a child

Serena recently spoke to former NBA player Jay Williams during a Chase Chats webcast in which she shared the best financial advice that her father shared with her when she was a child "My dad always said ‘athletes lose their money.

He always talked about the importance of not losing it once you get it and not just buying everything you see. That has stuck with me for my whole life”. Although that advice stuck with her, Serena says she wished she had learnt more about money at a younger age.

“Honestly, I wish I had learned more about banking and how it works — what happens in a savings account versus what happens in a checking account versus what happens when you put your money investing with the bank."

“I didn’t learn that until way later and I really wish I would have learned that sooner so that I could have made my money work for me in different ways sooner and probably better." Serena also has her own venture fund - which invests in other businesses and is already trying to teach her daughter - Alexis Olympia - some of the basics of finances early on.

“When it comes to finances, I told her the other day, ‘if you break that, you have to pay for it. I’m already trying to tell her a little bit about the financial responsibilities”. Serena Williams is seeded third for the US Open in New York where she will try to win her 24th Grand Slam singles title and equal the record by Australia's Margaret Court. She plays her first match against fellow American Kristie Ahn on Arthur Ashe Stadium.