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I got it, spent it and realized my financial habits were uneducated and unaware.
you gotta set goals because youre going to need to prioritize, Collins said.
With a game plan, you dont feel deprived and you prioritize better financial habits.
He shared a story about a linebacker he knew who consistently did just a little bit extra.
Every day, hed do an extra rep or run five yards further, Collins explained.
He told me, Every day, I take a stab at steal an inch.
Compound interest is all about inches, he said.
Build Habits That Last
Football taught habits and routines that Collins carried over into his financial training.
In particular, Collins credited Drew Brees, his former teammate, as an example.
Drew is a walking habit.
Everything he does is built around routines and systems, Collins said.
Learning from Brees, Collins applied these routines to his approach to finances.
Learn to set routines like an athlete does to succeed, he said.
I introduce myself as a great failure, he said.
Failure is part of the journey; its not final.
Collins likes the acronym First Attempt In Learning (FAIL), as a way to build persistence.
I always say failure is not the problem giving up is the problem, he said.
On its own, he said, Money is lazy.
If youre not telling it what to do, its either not working or its working for someone else.
In the NFL, Collins found it futile to compare himself to higher-earning teammates.
He applies the same philosophy to personal finance: What works for one person may not work for another.
Set your personal journey.
Personally, for Collins, this has looked like transitioning from sports to financially educating young people.
If we can reach more students with these tools, we can change the way future generations handle money.
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