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Former NFL Player Tries to Find Financial Footing

Wednesday, 7 Jan 2009 | 12:13 PM ET
Keeping Fit Financially
Making a new start with your money, with Greg McBride, BankRate.com; Bill Losey, CFP; and CNBC's Carmen Wong Ulrich.

To kick off the new year the right way, Carmen is spending each night this week inducting a new viewer into her Financial Fitness program. On Monday, we met Racquel – a successful businesswoman trying to get back on track after being laid off. Now it’s time for Ron to join the club. A former NFL defensive end, Ron was living his dream of playing professional football until an injury during a routine play abruptly ended his career.

Ron had to downsize his life to continue to support his family. He’s currently the director of programs at the Delaware County Juvenile Detention Center and does motivational speaking on the side. But he still needs coaching when it comes to playing offense with his money.

>>Carmen breaks down Ron's Financial Fitness plan

Ron’s goals for the new year include paying off old student and private loans, saving money for the future and getting on a budget. After making a comfortable six-figure salary in the NFL, Ron is still getting used to the pay cut but he has already made progress by cutting his housing costs. He still has work to do on his transportation costs, which account for more than double what he pays in rent.

Watch the accompanying video to see how Carmen and Bankrate Senior Financial Analyst Greg McBride coach Ron to use the discipline he learned from being a professional athlete to get financially fit.

And if you would like to contact Ron about his motivational speaking engagements, you may do so by emailing him at ronljohnsonjr@yahoo.com.