Former NFL player Brandon Copeland used his own financial experiences to develop “Life 101,” a course at the University of Pennsylvania that addresses all the financial decisions the average person must make. In the latest episode of Financial Freestyle with Ross Mac, Copeland discusses three principles of financial literacy that he believes everyone can incorporate into their lives.

Copeland’s first piece of advice is to learn the language of money. He recommends keeping up with financial news, including through sites like Yahoo Finance, and turning on phone alerts to see how the markets are doing. “Just by osmosis, over time you’ll pick up things that you can now double-click and learn more about and read more about.”

Second, he recommends creating a budget that takes into account life changes. He compares a good budget to a football game plan, saying, “By sitting down and creating a budget, you also give yourself the opportunity and the space to create a game plan of where you (want to) cut back next and where you want to make cuts next as well.”

Third, Copeland advises people to pay down their debt before they start investing. While he acknowledges that “the pressure of debt can seem overwhelming and at times, I’m sure, insurmountable,” he says that those who don’t invest and pay off their debt “have no chance of maintaining and creating the lifestyle they want.”

Listen to the full episode here or wherever you get your podcasts.

Click here to watch more from Financial Freestyle and get expert insights and the latest market activity.

This post was written by Meredith Lawrence.