The NFL and IOU: 10 Debt Lessons You Can Learn from Football Players

But Don is best known for playing for NFL teams like the New York Jets, Buffalo Bills and Seattle Seahawks. He holds dual degrees in Marketing and Business Administration from the University of Pittsburgh, where he was an Academic All-American.

10 Debt Lessons You Can Learn from Football Players

Brains Beat Bucks

Money will get you out of debt, but it won't keep you out of debt. I saw that up close for years. Give someone $1 million and don't teach them how to budget, save, and invest – and I promise you they'll be down to their last dollar before they retire.

No. 1

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. I promise you those NFL players who went bankrupt didn't have a budget.

No. 2

Shorten the Field with Technology

Many banks and credit unions now provide budgeting tools that make it easy to predict, say, how much you'll save per month if you drink one less Starbucks latte a day or buy fewer lunches during your workweek.

No. 3

Prepare for the Trick Plays of Life

An emergency fund isn't just peace of mind. It can save you money because when disaster strikes and you're not prepared, you often run up your high-interest credit cards – and carry balances for months or even years before you can pay off what you owe.

No. 4

Recruit a New Teammate

Almost 95 percent of Americans are paid by direct deposit – no more paper checks – and many employers let you split that deposit between checking and saving accounts. Many will let you break it three ways.

No. 5

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