Rangers chief executive Craig Mather recently said that the club would need to continue cutting costs as they look to recover from entering administration in 2012.
The club's transfer embargo ends on Saturday night and, with eight players having already committed to move to Ibrox, McCoist hinted that a personal pay cut could be a viable option.
"I would certainly consider it, yes," McCoist told the PA.
"That's all I would say. It's something that we will talk about but that's a very private matter."
Rangers are currently top of the Scottish League One table having won promotion from League Two at the first time of asking last season.