How Can Coaches Get Debt Free ASAP?
For more than 9 out of 10 coaches, salaries at the college level are...let's just say...'challenging'. It starts with something most coaches don't discuss: Debt.
It’s a total departure from our normal topic of recruiting, but after our popular interview with former college and pro athlete John Nicolas on our College Recruiting Weekly Podcast, he and I got into a conversation about coaches, their careers and the challenges of making it all work personally with a family - especially starting out, when many coaches have student loan and credit card debt, and very limited earnings as a new college coach.
In addition to the book we talked about on the podcast, John is well known for a popular financial self-help book called Debt Free ASAP, which so many people bought it battled one of author Dave Ramsey’s books when they were both released a few years ago.
It’s a great resource for coaches (and anyone, really) to understand how credit works, how a person can eliminate debt, and a simple plan to follow to build stability and wealth on any salary.
Watch our short interview here, and visit the website for all the free tools that are offered in this helpful, easy to read guide:
It’s easier to recruit when you have a plan to eliminate stress about personal finances…and, coaches tend to stay in their jobs longer and enjoy them more when money isn’t a weight bearing down on them.
As we talk about in the interview, money principles and personal finance isn’t something typically taught to us through high school and college, and it’s seldom addressed on college campuses with coaches beginning their careers. Hopefully, this gets the ball rolling if you’re feeling weighed down by financial pressures.