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IversonFormer NBA star Allen Iverson makes $62,500 a month but is spending way beyond his means to the tune of $358,376.66 a month.

TMZ reports that more than $125,000 of his money is going toward paying off  several creditors, including his jeweler and mortgages. And his Atlanta  home is going to be auctioned off soon.

Iverson spends $10,000 on clothing each  month, $5,000 on entertainment and another $5,000 at restaurants.

Iverson made more than $150 million during his NBA career. At the end of each month, he is $300,000 further into debt.

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