My years in the NFL taught me almost as much about staying out of debt as my subsequent career as president of Debt.com.
So let’s kick off 10 Debt Lessons You Can Learn from Football Players.
1. Brains Beat Bucks
Give someone $1 million and don’t teach them how to budget, save, and invest, and they’ll be down to their last dollar before they retire.
2. Budgeting is Your Game Plan
You can’t save money for a new car or a new home, or a new family if you don’t know what life is costing you now.
3. Shorten the Field with Technology
Keeping a budget these days takes only a few minutes a day. You don’t use a pencil and paper. You use your phone or computer.
Whenever I tell people they need an emergency fund that can pay their bills for at least three months, they laugh.
4. Prepare for the Trick Plays of Life
If you really want to run up the lead on your emergency fund, ask your boss or your Human Resources Department if they’ll help you.
5. Recruit a New Teammate
6. Automate Your Money
Almost every bank and credit card – and even many municipal utilities – offer automatic bill pay.
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