NFL player shares money-saving tips for holidays

New England Patriots linebacker and personal finance expert Brandon Copeland has important information for those struggling during the pandemic.
4:11 | 11/16/20

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Transcript for NFL player shares money-saving tips for holidays
you can submit questions to Dr. Jen on her Instagram @Dr. J Ashton. It is safe to say we could all use a little financial wisdom. And we've got the guy for that financial wisdom an ivy league professor, media consultant, and he's an NFL linebacker, yes, he has some money saving tips for you now, new England patriots linebacker, financial expert, Brandon Copeland, good to see you. Reportedly you only 10 to 20% of your salary. You live off that. Is that true? I know that might not be for everybody, but that's the case, why do you make such a commitment to doing that? Yeah, I think it's true. I probably spend a little bit less to be quite honest with you, but I'm obviously in a different position than a lot of I think it's about being in touch with my end goal, and I understand that football is not going to last forever. I understand that's the only guarantee I have in this world right now, and so for me, it's about taking the money I'm making now, and figuring out how to invest it wisely, save money for later on in life. I love that. You held a virtual town hall with the consumer protection bureau and I love the name of your talk, pressure creates diamonds, tell us about what you want people to know. Yeah, so, you know, pressure busts pipes, exactly, but it also creates diamonds, so there's an opportunity in high volatile, adverse moments, clearly being an athlete, I know that myself. I've seen my share of hail Mary passes and things like that that have turned games upside down, but ultimately we're in very precedented times as we all are aware of and what I'm urging people to do, you know, a great partnership with the consumer financial protection bureau. We were urging people to do is try to find the opportunity in the chaos to take control of your situation and take control of your finances and it's very hard to say that in a time where people are being laid off. Unemployments are at highs, but we want to focus on the things that we can control and create a plan so that, again, in the midst of this chaos, we can start to work ourselves towards our future. And you said improve your situation, and one of the things, it starts with something very key that you preach, that everybody can do right now, no matter what your situation is. You have to start with taking some kind of account of exactly what's leaving the house in the first place. Yeah. So, a lot of people start to want to invest. They want to, you know, do all of these different topics that you're seeing on social media because they're sexy topics, but ultimately you have to know yourself first. You have to know how much it costs you to live on a monthly basis. Do you know how many pennies are leaving your house on a recurring monthly basis. If you don't know that, you don't know the leak in the boat. For example, my cable company charged me for a subscription I didn't buy two months in a row. Only reason I was able to catch that is because I know what should be leaving my house on a monthly basis, and from there, then I can make a plan, I can deduct something from a certain line item, add something here, and know, hey, where am I saving more than I typically would have because of the pandemic. My wife typically commutes to New York City to work at Google in the city, she's not doing that anymore. We're saving a few hundred bucks a month on that transportation. What are we doing with that money now? Right. I love that. All of those little things add up to a lot. Brandon Copeland, a wealth of information for us and for our viewers. Thank you so much for being with us today. We certainly appreciate you taking the time. What a great guy. Thank you. And he's recovering right now. He's injured. His patriots did pick up a win on Sunday night football. Hopefully get him back on the field. You're impaired as well today based on that game. Impaired? That can mean a lot of things robach. He's sleep deprived. Ahead on gma3, when we come

This transcript has been automatically generated and may not be 100% accurate.

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