Golden State Warriors standout and savvy tech investor Andre Iguodala wants to help fellow NBA players hold on to their money and prepare for life after professional basketball.



"[In] the majority of NBA players' upbringing, there's not much financial education," Iguodala told CNBC's "Squawk Box" Tuesday. "When you get to college, they're never teaching you how to start a credit line or get a loan on a car, things of that nature."

There are horror stories all the time about pro athletes losing all their money. Last week, three-time NBA All-Star Antoine Walker shared his story with CNBC about how he made more than $108 million but filed for bankruptcy two years after retiring from the league.

For his part, Iguodala, who's on a $48 million four-year contract, stressed the importance of saving money. He used an example from his life to make his point.

"I do have a cracked phone," he admitted. "I didn't feel like I should buy another one. ... I have my vices, but I try to save as much as possible."

Before becoming a free agent and joining the Warriors in 2013, Iguodala said he and his manager got into investing in tech stocks. He started out with names like Facebook, Twitter, Tesla and Apple.