{"id":87199,"date":"2025-07-11T07:39:00","date_gmt":"2025-07-11T12:39:00","guid":{"rendered":"https:\/\/www.success.com\/?p=87199"},"modified":"2025-05-30T14:41:09","modified_gmt":"2025-05-30T19:41:09","slug":"scout-financial-literacy-athletes","status":"publish","type":"post","link":"https:\/\/www.success.com\/scout-financial-literacy-athletes\/","title":{"rendered":"Moneyball: Michael Haddix Jr. helps college athletes manage the complex world of finance"},"content":{"rendered":"\n

The importance of financial literacy<\/a> hits particularly close to home for Michael Haddix Jr. As the son of former NFL running back Michael Haddix, he witnessed firsthand how professional athletes can struggle without proper financial guidance. The elder Haddix played eight seasons in the NFL with the Philadelphia Eagles and the Green Bay Packers but came from very humble\u2014and, at times, tragic\u2014beginnings. Orphaned at age 9 by a drunk driver on Christmas Eve, he was raised by his grandmother along with 11 other children. When those humble beginnings eventually led to fame and fortune, the Mississippi State Hall of Famer never forgot where he came from.<\/p>\n\n\n\n

\u201cWhen my dad became a pro athlete, everyone got taken care of,\u201d Haddix Jr. recalls. \u201cAs his career wound down, he tried starting businesses. But he didn\u2019t know how to do it the right way. One day, my dad got cut. My mother was crying on the couch. Our lives started changing after that.\u201d<\/p>\n\n\n\n\"Leadership<\/a>\n\n\n\n

Building a better solution<\/h2>\n\n\n\n

That experience became the catalyst for Scout<\/a>, a fintech company Haddix Jr. co-founded in 2020 that combines financial education, wealth management<\/a> and tax preparation specifically for college athletes. The platform comes at a crucial moment, as college athletes navigate the new frontier of NIL (name, image, likeness) deals and upcoming revenue sharing.<\/p>\n\n\n\n

Haddix Jr. earned his MBA from Columbia Business School and worked as an investment banker at Goldman Sachs. An impressive athlete in his own right, he also scored over 1,000 career points playing basketball while attending Siena College. Before launching Scout, he worked as a financial adviser at Octagon, managing finances for sports superstars like Chris Paul, Steph Curry and Michael Phelps. But he wanted to make a larger impact.<\/p>\n\n\n\n

\u201cThe biggest lesson from all of this is the sacrifice that you make benefits other people,\u201d Haddix Jr. says, reflecting on his father\u2019s journey. \u201cI got into this because I think all these players, it\u2019s not just about them. It\u2019s about their families and their future kids and everybody around them.<\/p>\n\n\n\n

\u201cPeople [who] have money talk about money differently than people [who] don\u2019t,\u201d he continues. \u201cI saw the opportunity and what it does for future generations. I was going to solve this athlete money thing. Then, I realized that \u2018financial literacy\u2019 is sort of this thing we say, but no one ever does. So I was like, let\u2019s go build a tech platform to help this really unique subset of the population.\u201d<\/p>\n\n\n\n

Technology meets financial education<\/h2>\n\n\n\n

Scout\u2019s platform does everything from calculating and withholding taxes to facilitating investments and savings. The company\u2019s approach is already proving successful with major athletic programs and currently works with 12 athletic departments, including powerhouse franchises like UCLA, Tennessee and Auburn. Athletes receive on-campus financial training and year-round access to Scout\u2019s mobile app, where they can design budgets, set up recurring bank deposits and make investments<\/a>\u2014all under the guidance of licensed financial advisers.<\/p>\n\n\n\n

\"interface<\/figure>\n\n\n\n

\u201cYou look at the schools that have invested in us and the success they\u2019ve had,\u201d Haddix Jr. says. \u201cOne of our early clients was Auburn basketball. They\u2019re the No. 1 team in the country, and those players have been with Scout for years. You see the recruits of Auburn football and how successful they\u2019ve been. You see the success of Tennessee. These schools are showing that the player experience off the field or off the court actually really does contribute to winning.\u201d<\/p>\n\n\n\n

The company\u2019s approach is comprehensive, extending beyond just the athletes. \u201cWe provide education sessions for Mom and Dad,\u201d he says. \u201cA lot of times, they don\u2019t know either. They\u2019ve never seen a 1099. They\u2019ve never made $700,000 as a 19-year-old.<\/p>\n\n\n\n

\u201cEverything is built for people who earn money until they\u2019re 60,\u201d Haddix Jr. says of existing financial tools. \u201cThis is completely tailored for young athletes in this unique financial situation they\u2019re in.\u201d<\/p>\n\n\n\n

Beyond the game<\/h2>\n\n\n\n

Scout\u2019s mission transcends immediate financial management. \u201cOur mission is to provide the opportunity for every single athlete to leverage their current opportunity for the rest of their lives,\u201d Haddix Jr. says. \u201cWhether you go pro or don\u2019t go pro, you have a ton of resources and opportunity. This current environment should benefit you forever.<\/p>\n\n\n\n

\u201cTrust is important to these players,\u201d Haddix Jr. emphasizes. \u201cA lot of people don\u2019t get into their lives and their ecosystems. We need to make sure that we\u2019re authentic and really focused on the mission and always keeping that in mind in every interaction that we have.\u201d<\/p>\n\n\n\n

His advice to college athletes is straightforward: \u201cGetting started early will benefit you forever, and it doesn\u2019t take a lot. All these things are really intimidating\u2014how do I do taxes? How do I do an LLC<\/a>? But it\u2019s not that hard. The earlier you learn that, the easier it gets and just a few small things will equate to some huge opportunities down the line.\u201d<\/p>\n\n\n\n

Scout\u2019s impact is already visible. Haddix Jr. says some professional athletes continue to use the platform, investing money monthly, well after they\u2019ve moved on from college sports. Others who\u2019ve transitioned to different careers continue benefiting from Scout\u2019s financial education. For Haddix Jr., these proof points validate Scout\u2019s approach to making financial health as important as mental health in college athletics.<\/p>\n\n\n\n

Looking ahead, he sees potential to expand Scout\u2019s model to other industries where traditional financial planning doesn\u2019t quite fit\u2014entertainers, influencers, even gig economy workers. But for now, his focus remains on athletes, ensuring they don\u2019t face the same financial struggles his father did.<\/p>\n\n\n\n

\u201cWe\u2019ve seen athletes and money and how it hasn\u2019t worked out for so long, and we haven\u2019t really done anything to change it,\u201d he reflects. \u201cLet\u2019s create something where we look back at this in 10 years and say, \u2018Remember when we were treating athletes and money this way? How crazy were we?\u2019\u201d <\/p>\n\n\n\n

This article originally appeared in the <\/em>July\/August 2025 issue<\/em><\/a> of SUCCESS magazine.<\/em> Photo Courtesy of Michael Haddix Jr.<\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Scout helps college athletes handle NIL money with tax tools, budgeting and financial education to set them up for long-term success.<\/p>\n","protected":false},"author":32507,"featured_media":87201,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"inline_featured_image":false,"ub_ctt_via":"","footnotes":""},"categories":[14060],"tags":[],"class_list":["post-87199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money"],"featured_image_src":"https:\/\/www.success.com\/wp-content\/uploads\/2025\/05\/scout-financial-literacy-athletes.jpg","author_info":{"display_name":"Charity De Souza","author_link":"https:\/\/www.success.com\/author\/joel-swenson\/"},"yoast_head":"\nFinancial Literacy for College Athletes: Scout\u2019s Mission | SUCCESS<\/title>\n<meta name=\"description\" content=\"Scout helps college athletes handle NIL money with tax 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Swenson"],"_molongui_guest_author_post_count":["3"],"_edit_lock":["1726210771:32485"],"_thumbnail_id":["60968"]}}],"user_authors":[]},"custom_post_content":"<!-- wp:paragraph -->\n<p>The importance of <a href=\"https:\/\/www.success.com\/financial-literacy-mastering-money-management\/\">financial literacy<\/a> hits particularly close to home for Michael Haddix Jr. As the son of former NFL running back Michael Haddix, he witnessed firsthand how professional athletes can struggle without proper financial guidance. The elder Haddix played eight seasons in the NFL with the Philadelphia Eagles and the Green Bay Packers but came from very humble\u2014and, at times, tragic\u2014beginnings. Orphaned at age 9 by a drunk driver on Christmas Eve, he was raised by his grandmother along with 11 other children. When those humble beginnings eventually led to fame and fortune, the Mississippi State Hall of Famer never forgot where he came from.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cWhen my dad became a pro athlete, everyone got taken care of,\u201d Haddix Jr. recalls. \u201cAs his career wound down, he tried starting businesses. But he didn\u2019t know how to do it the right way. One day, my dad got cut. My mother was crying on the couch. Our lives started changing after that.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:html -->\n\n<!-- \/wp:html -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"h-building-a-better-solution\">Building a better solution<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>That experience became the catalyst for <a href=\"https:\/\/www.scoutftw.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Scout<\/a>, a fintech company Haddix Jr. co-founded in 2020 that combines financial education, <a href=\"https:\/\/www.success.com\/how-to-build-wealth\/\">wealth management<\/a> and tax preparation specifically for college athletes. The platform comes at a crucial moment, as college athletes navigate the new frontier of NIL (name, image, likeness) deals and upcoming revenue sharing.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Haddix Jr. earned his MBA from Columbia Business School and worked as an investment banker at Goldman Sachs. An impressive athlete in his own right, he also scored over 1,000 career points playing basketball while attending Siena College. Before launching Scout, he worked as a financial adviser at Octagon, managing finances for sports superstars like Chris Paul, Steph Curry and Michael Phelps. But he wanted to make a larger impact.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cThe biggest lesson from all of this is the sacrifice that you make benefits other people,\u201d Haddix Jr. says, reflecting on his father\u2019s journey. \u201cI got into this because I think all these players, it\u2019s not just about them. It\u2019s about their families and their future kids and everybody around them.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cPeople [who] have money talk about money differently than people [who] don\u2019t,\u201d he continues. \u201cI saw the opportunity and what it does for future generations. I was going to solve this athlete money thing. Then, I realized that \u2018financial literacy\u2019 is sort of this thing we say, but no one ever does. So I was like, let\u2019s go build a tech platform to help this really unique subset of the population.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"h-technology-meets-financial-education\">Technology meets financial education<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Scout\u2019s platform does everything from calculating and withholding taxes to facilitating investments and savings. The company\u2019s approach is already proving successful with major athletic programs and currently works with 12 athletic departments, including powerhouse franchises like UCLA, Tennessee and Auburn. Athletes receive on-campus financial training and year-round access to Scout\u2019s mobile app, where they can design budgets, set up recurring bank deposits and <a href=\"https:\/\/www.success.com\/investing-basics\/\">make investments<\/a>\u2014all under the guidance of licensed financial advisers.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:image {\"id\":87202,\"width\":\"392px\",\"height\":\"auto\",\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"align\":\"right\"} -->\n<figure class=\"wp-block-image alignright size-large is-resized\"><img src=\"https:\/\/www.success.com\/wp-content\/uploads\/2025\/05\/64b089125314a4ef84227492_Group-5_CMYK_cropped-989x1024.jpg\" alt=\"interface of Scout app\" class=\"wp-image-87202\" style=\"width:392px;height:auto\"\/><\/figure>\n<!-- \/wp:image -->\n\n<!-- wp:paragraph -->\n<p>\u201cYou look at the schools that have invested in us and the success they\u2019ve had,\u201d Haddix Jr. says. \u201cOne of our early clients was Auburn basketball. They\u2019re the No. 1 team in the country, and those players have been with Scout for years. You see the recruits of Auburn football and how successful they\u2019ve been. You see the success of Tennessee. These schools are showing that the player experience off the field or off the court actually really does contribute to winning.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The company\u2019s approach is comprehensive, extending beyond just the athletes. \u201cWe provide education sessions for Mom and Dad,\u201d he says. \u201cA lot of times, they don\u2019t know either. They\u2019ve never seen a 1099. They\u2019ve never made $700,000 as a 19-year-old.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cEverything is built for people who earn money until they\u2019re 60,\u201d Haddix Jr. says of existing financial tools. \u201cThis is completely tailored for young athletes in this unique financial situation they\u2019re in.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"h-beyond-the-game\">Beyond the game<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Scout\u2019s mission transcends immediate financial management. \u201cOur mission is to provide the opportunity for every single athlete to leverage their current opportunity for the rest of their lives,\u201d Haddix Jr. says. \u201cWhether you go pro or don\u2019t go pro, you have a ton of resources and opportunity. This current environment should benefit you forever.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cTrust is important to these players,\u201d Haddix Jr. emphasizes. \u201cA lot of people don\u2019t get into their lives and their ecosystems. We need to make sure that we\u2019re authentic and really focused on the mission and always keeping that in mind in every interaction that we have.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>His advice to college athletes is straightforward: \u201cGetting started early will benefit you forever, and it doesn\u2019t take a lot. All these things are really intimidating\u2014how do I do taxes? How do I do an <a href=\"https:\/\/www.success.com\/how-to-create-an-llc\/\">LLC<\/a>? But it\u2019s not that hard. The earlier you learn that, the easier it gets and just a few small things will equate to some huge opportunities down the line.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Scout\u2019s impact is already visible. Haddix Jr. says some professional athletes continue to use the platform, investing money monthly, well after they\u2019ve moved on from college sports. Others who\u2019ve transitioned to different careers continue benefiting from Scout\u2019s financial education. For Haddix Jr., these proof points validate Scout\u2019s approach to making financial health as important as mental health in college athletics.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Looking ahead, he sees potential to expand Scout\u2019s model to other industries where traditional financial planning doesn\u2019t quite fit\u2014entertainers, influencers, even gig economy workers. But for now, his focus remains on athletes, ensuring they don\u2019t face the same financial struggles his father did.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cWe\u2019ve seen athletes and money and how it hasn\u2019t worked out for so long, and we haven\u2019t really done anything to change it,\u201d he reflects. \u201cLet\u2019s create something where we look back at this in 10 years and say, \u2018Remember when we were treating athletes and money this way? How crazy were we?\u2019\u201d <\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"small\"} -->\n<p class=\"has-small-font-size\"><em>This article originally appeared in the <\/em><a href=\"https:\/\/www.success.com\/subscriptions\/\"><em>July\/August 2025 issue<\/em><\/a><em> of SUCCESS magazine.<\/em> <em>Photo Courtesy of Michael Haddix Jr.<\/em><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><\/p>\n<!-- \/wp:paragraph -->","tag_names":[],"post_attachment_urls":["https:\/\/www.success.com\/wp-content\/uploads\/2025\/05\/64b089125314a4ef84227492_Group-5_CMYK_cropped-989x1024.jpg"],"author_email":"charity.de-souza@success.com","_links":{"self":[{"href":"https:\/\/www.success.com\/wp-json\/wp\/v2\/posts\/87199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.success.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.success.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.success.com\/wp-json\/wp\/v2\/users\/32507"}],"replies":[{"embeddable":true,"href":"https:\/\/www.success.com\/wp-json\/wp\/v2\/comments?post=87199"}],"version-history":[{"count":0,"href":"https:\/\/www.success.com\/wp-json\/wp\/v2\/posts\/87199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.success.com\/wp-json\/wp\/v2\/media\/87201"}],"wp:attachment":[{"href":"https:\/\/www.success.com\/wp-json\/wp\/v2\/media?parent=87199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.success.com\/wp-json\/wp\/v2\/categories?post=87199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.success.com\/wp-json\/wp\/v2\/tags?post=87199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}