Darts legend Phil Taylor has advised teenage sensation Luke Littler to set up two bank accounts to manage his £1.1m prize money earnings from the past year.
The 18-year-old world number two faces a 45 per cent tax rate on a significant portion of his income following his first full year on the senior PDC tour, meaning he's roughly £500,000 worse off.
Taylor, drawing from his own career experience, revealed he maintained two separate accounts to effectively manage his finances and tax obligations.
The retired 64-year-old champion shared his financial wisdom as Littler continues his remarkable rise in professional darts.
Luke Littler has received financial advice from Phil Taylor after losing £500,000 in tax
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"Make sure you look after your money," Taylor told SportBible when offering guidance to the darts prodigy.
"Two bank accounts - one in one, and half in another. So that's your tax. That's what I always used to do," he explained.
Taylor emphasised the importance of financial planning for the future, adding: "Try to start investing your money, so if anything happens, if you fall down and break your arm or something, you've got something to fall back on."
The advice comes as Littler has already shown a frugal approach to his earnings, primarily spending on holidays and meals out for friends and family.
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Luke Littler has also been urged to stay off social media by darts icon Phil Taylor
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Taylor also cautioned Littler about the potential pitfalls of social media engagement.
"Keep off social media," Taylor warned. "Don't bother with it. Let somebody else do it for you. You don't need to read things because it can upset."
The advice comes as Littler maintains an active presence on Facebook, Instagram and X.
Taylor specifically recommended hiring a social media manager to handle Littler's online channels, drawing from his own experience with the negative impact of online comments.
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Littler triumphed in Glasgow on Thursday night, securing victory in the Premier League Darts with a 6-5 win over Luke Humphries in the final.
However, the teenager spoke out against crowd behaviour during the match.
"Obviously, there was a few in particular that were doing it [whistling] when Luke [Humphries] was throwing," Littler said after his win.
He explained how referee Kirk Bevins' intervention initially made matters worse: "Kirk told them to be quiet and it got even worse, and then I missed doubles and Luke breaks at 5-4."
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Despite the disruption, Littler managed to break back and secure the victory.
Despite his success, Littler has maintained modest spending habits and aspirations.
Speaking about his car preferences, Littler said: "I've always loved a Mercedes A-Class - just a small car."
Luke Littler continued his impressive form by beating Luke Humphries in the Premier League on Thursday
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He revealed his previous interest in a Ford Focus, noting: "Last year, I was looking at driving, and I loved the Ford Focus, but now I've gone up in the world just a little!"
The teenager has yet to start driving lessons due to his hectic schedule.
"I haven't had driving lessons yet because it's been so hectic, but I'm going to have to do it before I get into my twenties," he recently explained.
