Ostrich’s Student-Athlete Financial Check-Up Challenge is for college athletes who want to create and build wealth. This 7-day challenge ensures you get the fundamentals of personal finance correct.
Each day there is one finance-related action to tackle.
You can download the free PDF checklist here and read along to get more detail on each day’s action.
Day 1: Find NIL Deals
NIL provides student-athletes a unique way to make money and brands are looking for influential student-athletes. Join a free NIL marketplace like Mogl, Icon Source, & TwoYay where you can find NIL opportunities and brands can find you.
These marketplaces are compliant and handle all of the necessary paperwork and reporting the NCAA requires. Check out Ostrich’s getting started with NIL deals guide if you want to learn more.
Day 2: Check Your Credit
The first step to better finances is knowing where you are at. Checking your credit score is a key personal finance metric to keep track of! Your credit score tells lenders how trustworthy you are as a borrower and it also tells Credit Karma is an excellent tool to help you view your credit score.
Day 3: In Case of an Emergency
Oh no! Emergencies happen and what makes emergencies worse is when you don’t have enough money to support yourself through the situation. Creating a dedicated and separate emergency fund ensures you are prepared for the unexpected. Ostrich prefers the High-Yield Savings Account from Ally is our favorite for this purpose.
Day 4: Build Your Credit
Building credit is extremely important and tells lenders if they can trust you. Ostrich recommends using Chime’s credit-building debit card that is free and easy to use.
Day 5: Become an Investor
Witness the power of compound interest by opening an investing account. Any small amount invested today can become powerful in the future. We recommend Acorns, Stash, or Ally for beginners.
Day 6: Student Loan Check
Student loans are a reality for many college students. While paying them off seems like a “future me” problem, it is important to know what types of loans you have, the amounts, and the interest rates on them.
Day 7: Ostrich Update + Reflection
You did a lot of work this week! Now it is time to reflect on your progress. Go into your Ostrich app and update your financial stress level using the slider on your profile. Remember, you can continue to use Ostrich to improve your financial wellness!
Next Steps
Now that you’ve completed Ostrich’s Student-athlete financial check-up challenge, you are in a strong financial position for the rest of your time in college and post-college athletics. Feel free to share this challenge with others and if you post on social media tag @theostrichapp on TikTok and Instagram with your takeaways and experience.
