“For to every one who has will more be given, and he will have abundance; but from him who has not, even what he has will be taken away.” — Matthew 25:29, RSV.

Put another way—the rich get richer, the poor get poorer.

This is the Matthew Effect, named for the biblical passage above. It’s a phenomenon that’s been proven time and time again. Simply put, advantages beget more advantages, and disadvantages beget more disadvantages.

Here’s an example…

Two kids play pickup basketball with some friends. Neither has played before. Athletically, they’re similar with a key difference—one can jump just slightly higher than the other.

So what happens? The better jumper gets slightly more points than the other kid. Not a big deal, right?

Wrong. He gets the ball more than his friend. That means he gets more time dribbling, shooting, and jumping. At first, it’s not much. But over the next few weeks, he’s significantly more confident than his buddy. And it all started with a slight advantage.

The takeaway? Advantages are force multipliers. They snowball.

That can seem discouraging. After all, it looks like other people have far more advantages than we do.

But above all, it should be encouraging. You have advantages. They may be small. You may not even recognize them. But they’re there. You just need to start using them.

It also means that the opportunities you pursue will dictate your outcomes. Make no mistake—following a system, model, and path that gives you the advantage will transform your future.

So what are you waiting for? Start chasing advantages!

People often think of money as a source of stress and anxiety.

And while it’s true that money problems can cause a lot of stress, did you know that financial instability can also lead to health problems?

The research is clear—money woes cause health problems.

Negative wealth shocks (losing 75% of your wealth or more) increase mortality risk over 20 years by 50%.¹

The impact grows more pronounced with age. A Yale study tracked older people recovering from heart attacks. They discovered that heart attack survivors with financial problems were 60% more likely to die within 6 months of leaving the hospital.²

Researchers don’t understand the causal relationship between finances and mortality, but here are a few educated guesses…

Losing money is stressful. And stress has been linked to everything from heart disease to cancer.

Losing money reduces access to medical care. Quality care slips out of financial reach. Even little things like transportation to appointments can become unaffordable.

Losing money can cause a low-quality diet. A combination of stress and living in low-income areas make junk food far more convenient and appealing.

The takeaway? Money problems take a toll on your health. That’s why financial stability should be a top priority for everyone. If you’re struggling to make ends meet, don’t despair. There are steps you can take to get your finances in order. And when you do, you’ll be on your way to better health, too!

The most dangerous money mistakes are the ones you don’t notice.

Are buying cars you can’t afford and living paycheck-to-paycheck dangerous? Of course! But they’re obvious. Hard to miss. They’re like a voice yelling into a megaphone “Hey! Something’s not right.”

But what about money mistakes that aren’t so obvious? Or even worse, money mistakes disguised as money wisdom?

Those may not devastate your bank account in one swoop. But they often go unaddressed. And overtime, they add up.

So here are money mistakes you might not have noticed.

Penny pinching.

Sure, it sounds like a great idea in theory. But when you’re constantly scrimping and saving, it’s tough to enjoy life. What’s the point of working so hard if you can’t even enjoy your money?

Plus, penny pinching can stop you from taking calculated risks that could save your money from stagnation.

So instead of penny pinching, try moderation instead. You may find yourself far more inspired to budget and save then if you commit to complete frugality.

Under and over filling your emergency fund.

A lot of people make the mistake of not having an emergency fund at all. It leaves them vulnerable to unexpected expenses and financial emergencies.

When you have too much money in your emergency fund, it’s tough to make any real progress on your long-term financial goals. A good chunk of your net worth gets sunk into money that’s not growing.

The solution? Save up 3 to 6 months of income in an easily accessible account, no more. Use that money to cover emergencies. If it runs low, refill it.

Once your emergency fund is full stocked, devote your income to building wealth.

Leaving goals undefined.

It’s tough to achieve a goal you don’t have. And it’s even tougher to achieve a goal that’s fuzzy and undefined.

That uncertainty makes it easy to fudge good financial habits. You don’t see how lapses impact your big picture because you don’t have a big picture,

So when it comes to your money, be specific. Write out your goals and make sure they’re measurable. That way, you can track your progress and ensure you’re on the right track.

Be on the lookout for these dangerous money mistakes. They may seem innocuous, but they can add up over time and stop you from reaching your financial goals. Stay vigilant and steer clear of these traps!

Worried about money? Tell someone.

And that doesn’t mean anxious chit-chat or throwaway lines about how money’s tight. Those are attempts at starting a conversation, hoping that the other person notices how you feel.

What you need is to sit down and talk with someone you trust. Someone you can be honest with. Someone who will listen without judgment.

When it comes to money, most of us are our own worst critic. We’re ashamed to admit that we don’t have enough, or that we’re struggling to make ends meet.

And shame loves silence. That’s because silence keeps you confused. It allows negative thoughts, often unfounded, to bounce around and fester and grow.

But something amazing happens when you talk to someone who listens—as the words leave your mouth, your perspective changes.

Maybe you feel relief. Maybe you feel re-energized. Maybe you see your fears in a different light.

Once you’ve actually brought your worries into the open, you’ll find the clarity you need to make a plan. And that plan further soothes your worries.

Make no mistake—talking honestly is hard. It demands vulnerability. That doesn’t happen with everyone. Only a few people will give you the sense of safety and comfort you need to speak openly.

But once you find those people, they become your rocks. They empower you to conquer your fear. They help you calm your worries and achieve financial peace of mind. And it all starts with talking.

If you need a space to talk about your finances, judgment free, contact me. I’m more than happy to hear your story and help you make a plan for a better future.

Are you one of those people who always seem to be putting off tasks?

It makes sense. Life is hectic. Schedules are full. Sometimes, it seems like you hardly have a second to brush your teeth or have a real conversation. And so important decisions get pushed further and further into the future.

That’s fine in some cases. Do you need to decide how to organize your garage right now, at this very moment? No.

But with your finances, procrastination can cause disaster. Why? Because time is the secret ingredient for building wealth. The sooner you start saving, the greater your money’s growth potential. Likewise, the sooner you get your debt under control, the more manageable it becomes.

And with your money, the stakes couldn’t be higher. After all, it’s your future prosperity and well-being that’s at stake. Procrastination is downright dangerous.

That urgency, however, doesn’t make it easier to start saving. In fact, you may have noticed that finances suffer more from procrastination than anything else.

There’s a very good reason for that. Procrastination is driven, above all else, by perfectionism. Failing feels awful, especially when you know the stakes are high. Your brain sees the discomfort of trying to master your finances and failing, and decides that it would feel safer to not try at all.

It’s a critical miscalculation. Attempting to master your finances at least moves you closer to your goals. Procrastinating doesn’t.

Think of it like this—50% success is infinitely better than 0% success.

The key to beating procrastinating, then, is to conquer the perfectionist mindset and fear of failure. It’s no small feat. Those habits of mind are often deeply ingrained. They won’t vanish overnight. But there are some simple steps you can take, like…

Break big goals down into tiny steps. This relieves the overwhelm that many feel when facing important tasks. As you knock out those small steps, you’ll feel empowered to keep moving forward.

Don’t go it alone. Procrastination thrives in isolation. Seek out a friend, loved one, or co-worker to hold you accountable and share the load—even if it’s just a weekly check-in to see how each other are doing.

Work in short, uninterrupted bursts. Set a timer. Put down the phone. Work. After about 15 minutes, you’ll notice something strange happening. Time starts to either speed up or slow down. Distracting thoughts vanish. The lines between you, your focus, and the task at hand start to evaporate. You feel awesome. This is called a flow state, and it’s the key to productivity. Make it your friend, and you’ll notice that procrastination becomes rarer and rarer.

Now that you know the cause of procrastination, try these tips for yourself. Set a 30 minute timer. Then, break your finances into tiny action steps like checking your bank account, automating saving, and budgeting. Work on each item in a quick burst until you’ve made some progress. Then, talk to a friend about your results!

Just like that, you’ve made serious headway towards beating procrastination and building wealth. Look at you go!

Sick and tired of borrowing money from financial institutions? Well, no longer! You can now borrow money directly from your peers.

That’s right—with the magic of the internet, you can be in debt to faceless strangers instead of faceless institutions.

One moment while I get my tongue out of my cheek…

But seriously, peer-to-peer lending—or P2P—is exploding. It’s grown from a $3.5 billion market in 2013 to a $67.93 billion market in 2019.¹

Why? Because P2P lending seems like a decentralized alternative to traditional banks and credit unions.

Here’s how it works…

P2P lending platforms serve as a meeting point for borrowers and lenders.

Lenders give the platform cash that gets loaned out at interest.

Borrowers apply for loans to cover a variety of expenses.

Lenders earn money as borrowers pay back their debt.

No middlemen. Just straightforward lending and borrowing.

Think of it as crowdfunding, but for debt.

And make no mistake—there’s a P2P lending platform for every loan type under the sun, including…

• Wedding loans • Car loans • Business loans • Consolidation loans

But here’s the catch—debt is debt.

The IRS. A bookie. A banker. Your neighbor. It doesn’t matter who you owe (unless they’re criminals). What matters is how much of your cash flow is being consumed by debt.

Can P2P lending platforms offer competitive interest rates? Sure! But they can also offer ridiculous interest rates, just like everyone else.

Can P2P lending platforms offer lenders opportunities to earn compound interest? Of course! But they also come with risks.

In other words, P2P lending is not a revolution in the financial system. In fact, two leading P2P platforms have actually become banks.²

Rather, they’re simply options for borrowing and lending to consider with your financial professional.

Budgeting is essential. But what if you don’t know where to start?

Whether you’re new to the world of budgets or you just want some help, this article will get you started on the right foot. There’s no one way that works for everyone, but these different methods can give you an idea of where to begin.

Method 1: The old fashion way.

First, write down your total monthly take home pay. Next, break down your monthly spending into categories and write down how much you spend on each. Add those numbers together. Then, subtract that number from your take home pay.

The advantage of this method is that it’s rewarding. You get to see your budget grow from the ground up. It connects you to your money like few other projects will.

It can, however, be frustrating. You’ll run into snags, miscalculations, and old fashion human error. And that can nip your budget in the bud.

Method 2: Pre-made spreadsheets.

This is an easy way to create a customized budget. There are countless templates from Google Drive, Microsoft Office, the Federal Trade Commission, Nerdwallet, and more!

Unfortunately, they still require some legwork. You may need to customize your budget to your specific needs. And they don’t sync with your bank account, meaning you’ll need to manually input your monthly spending.

Method 3: Budget apps.

They come in a variety of different flavors, but they all serve a common purpose—make budgeting as simple as possible.

Typically, these apps handle the categorizing and all the math. You simple enter your monthly income, log your spending into categories, and let the app work its magic.

Not all budgeting apps are the same. Some require you to manually enter your spending, while others sync with your bank accounts. Some are free. Some cost money.

Here are a few of the most popular budgeting apps to investigate…

Mint (most popular)

YNAB (You Need a Budget) (Syncs with accounts, cost $84/year)

PocketGuard (Designed for overspenders)

Honeydue (Designed for couples)

There’s not one particular way to begin budgeting. It all depends on your personal needs and what you’re comfortable with.

With so many options, you should be able to find the perfect method for you.

What do you think? Do you have a simple budget? How did you start it?

Are you one of those people who assumes that you’ll never be wealthy?

It’s a common mindset, and it keeps many from reaching their financial goals. But the truth is, anyone can create wealth. You don’t have to be born into money or have some special talent. It all comes down to making a commitment to start building your fortune today.

So why do so many people put off creating wealth until later in life? There are many reasons, but chief among them is fear.

What if, instead of building wealth, you save your money in the wrong place and lose everything?

What if you can’t access money when you need it?

What if I confirm this deep seated suspicion that I don’t know what I’m doing?

But here’s the truth— you’re better positioned to start building wealth today than you ever will again. That’s because your money has more time to grow and compound today than it will in the future.

That’s especially true in your 20s and 30s. But it’s also true if you’re 45 or 55. The best time to build wealth is right now, this very moment.

So what can you do? How can you leverage this moment to start building wealth? Here are a few simple financial concepts you can use right away.

Create an emergency fund. I know it seems counterintuitive, especially if your credit is in shambles or you have many other debts to pay off. But the truth is, building an emergency fund is one of the best ways to begin building wealth, because it gives you a margin of safety. If you have money saved for a rainy day, you won’t have to turn to expensive credit cards or high interest loans when life throws you a curveball. Instead, you can take care of things with your own savings and move on.

Automate saving right now. The best way to start building wealth is to put something away every month. Forget about how much you’re putting away or your interest rate. For now, just put something away, even if it’s just $5. You can work with a financial professional to boost those numbers later on. The important thing is to start now.

If you want to learn more about how to start building wealth today, let’s chat. I’d love to help you set some goals and create a plan for getting there. We all deserve financial security, regardless of our age or income level. So let’s find out how we can get started today.

You’ve probably heard the phrase “knowledge is power” before. In fact, you may have even said it yourself from time to time.

And it’s true. Knowledge is power because it shows you how to act. The more informed your actions, the more likely they are to be fruitful and effective.

Here’s another quote you’ve probably heard and said a few times—“Know thyself.”

Why? Because there’s no greater power than power over yourself. The more you know yourself, the more able you’ll be to shape your actions, your habits, and your destiny.

This couldn’t be more relevant when it comes to financial matters. The more you know about your financial habits and tendencies, the better equipped you’ll be to control your financial future.

Here are some ways to know thy financial self.

Notice your emotions.

Like any other part of your personality, emotions can affect money. They’re especially important because they can cause you to act in ways that are counterproductive financially.

For example, have you ever felt anxious about checking your bank account?

Or felt a craving to blow money to destress?

Or swelled with pride when you see how much you’ve saved?

Those are all emotions, and they’re all related to money.

So the next time you’re spending money, or checking your bank account, or pinching pennies, take a moment. Breath. Notice how you’re feeling. Those emotions can give you valuable information that will help you make better financial decisions in the future.

Notice your thoughts.

Feelings almost always lead to thoughts. For instance, anxiety about looking at your bank account could lead to thoughts like this…

“Can I afford that? Oh, I bet I can’t. I WAY overspent the other day at… whatever, I never have enough money. I keep meaning to spend less, but I just can’t stop myself. Why do I even bother?”

See what happened? A feeling of anxiety led to a negative thought—that you can’t control your finances.

So what do you think about money? And that doesn’t mean the “opinions” about money that you share when you’re chatting with friends. It means the thoughts that flow through your mind when ever you encounter money in daily life.

Take a few moments right now and notice those thoughts. Are they positive? Are they negative? Are they just neutral?

Notice your actions.

Just like feelings almost always lead to thoughts, so do thoughts almost always lead to action.

Those actions might be to ignore, or repress, or get angry, or give in. But one way or another, thoughts will result in actions.

This is where budgeting helps. It’s like creating a journal of your actions, which are a window into your thoughts, your feelings, and who you are.

Notice lots of stress spending, snack buying, or binge shopping? That can reveal a facet of your financial self—maybe you think that spending will relieve feelings of stress and anxiety.

Or maybe you notice lots of thrifting and penny-pinching. That could reveal either a resourcefulness in hard times, or worry about going without.

Or maybe you notice wild, untamed spending. Perhaps this shows that you don’t prioritize money, and think of it as a tool to make you feel good.

The more you know about your financial self, the better equipped you’ll be to control your finances. You’ll see habits that you need to curb, and habits you need to cultivate.

Simple advice, but it goes a long way. Knowledge is power!

Money comes from solving problems.

Think about any business. It could be a lemonade stand. It could be Amazon.

Each of those businesses solves a problem.

The lemonade stand solves the problem of feeling dehydrated on a hot summer day. How? With a refreshing mix of sugar, citrus, and water. One sip, and you’re a new person. It’s a feeling people will pay big money to achieve.

Amazon solved a problem people didn’t even know existed—the inconvenience of shopping in stores. It turns out that driving from location to location is a time consuming hassle. Amazon eliminated that problem entirely with an all-encompassing online marketplace. And they’ve been richly rewarded—just look at Jeff Bezos’s net worth!

Your current job is likely solving a problem for your boss. You have skills that your boss needs to their business work, but that they don’t have the time to develop or apply. And in return for solving that problem for 40 hours per week, they give you a salary.

The takeaway? Don’t just develop skills—identify problems. Once you see obstacles, you can leverage your skills to overcome them. That’s where money comes from.

So you’ve decided to create a retirement strategy. Good for you!

Will your plans be durable enough to withstand your working years and sustain you through your retirement? The answers to the following questions can help give you clarity on if your retirement strategy has what it takes!

How’s it constructed?

Not all savings vehicles are created equal. For instance, stashing all your cash in a mattress until retirement is a great way to torpedo the value of your savings. Why? Because inflation will slowly but surely reduce the value of each dollar you earn today. The same goes for low-interest saving options like CDs, bonds, and checking accounts. Even a 401(k) might not be enough!

Realistically, you want to put your money in a place where it can leverage compound interest. That means the cash you save generates interest, and all the interest you earn also generates interest. Interest earning interest on interest eventually unleashes a huge tidal wave of wealth creation that can help carry you through your final years.

What percent of your income will you live on?

Nobody wants to take a pay cut when they retire. But that’s exactly what people relying on Social Security will do; it’s only designed to replace 40% of your annual income!¹ Instead, it’s better to live off of 80% of your salary.²

So what does that number look like now? Assuming you live 30 years after retiring, how much would you need to save before you hit that goal? If you make $60,000, 80% of your income is $48,000. You would need $1,440,000 saved to maintain your lifestyle for three decades.

Once you have that number estimated, determine how much you’ll need to save starting today. You can use a nifty compound interest calculator like this one to get an idea of how much that will be!

Is it tax efficient?

There are few surprises nastier than saving for decades only to have the government bite a huge chunk out of your nest egg at the finish line. We won’t dive into the details of taxes now, but you need to decide when you’ll pay Uncle Sam his share. You can either:

Pay now. CDs and Roth IRAs are options where you pay your taxes, then save the money. You end up only paying the tax rate of today.

Pay later. You don’t pay any taxes now, but you cough up a percentage of whatever you earn in the long haul at a future rate. This is how a 401(k) works.

Pay never. No, you don’t have to hire a Swiss lawyer and hide your money on an island to do this. Ask a licensed and qualified professional about legal ways to achieve tax free growth.

Whatever option you choose, make sure you understand its implications for how much you’ll have when you need it.

It’s always best to review your strategy with a licensed and qualified professional. They’ll have insights and knowledge to help you achieve the retirement of your dreams.

Debt is expensive.

Americans spend about 34% of their income on servicing their mortgages, car loans, and, of course, credit cards.¹

Assuming a household income of $68,703, that translates to roughly $23,359 going down the drain each and every year.²

Obviously, converting that money from debt maintenance to wealth building would be a dream come true for most Americans. But there’s more at stake here than retirement strategies.

The true cost of debt is your peace of mind.

Take the example from above. A third of your income is going towards debt and the rest is split up between everyday living and transportation expenses. You feel you can make ends meet as long as the money keeps coming in.

But what happens if a recession causes massive layoffs? Or if a pandemic shuts down the economy for months?

The sad fact is that the hamster wheel of debt prevents a huge chunk of Americans from saving enough to cover even a brief window of unemployment, let alone a shutdown!

That lack of financial security can have serious repercussions, including bankruptcy. And feeling like you’re always one unexpected emergency away from a financial crisis can result in a myriad of mental health issues. Numerous studies have shown that high levels of debt increase anxiety, depression, anger, and even divorce.³

Conquering debt isn’t about changing numbers on a page. It’s about reclaiming your peace. It’s about securing financial stability for you and your family. Your income is a powerful tool if you can protect it from lenders.

If you’re stressed about debt and seeking some relief, let me know. We can review your situation together and come up with a game plan that will recover the financial security that’s rightfully yours.

Your paycheck makes everyone rich… except you. Allow me to explain.

Your labor actually is helping make your boss rich. He gives you a portion of earnings in exchange for your time and effort. No harm, no foul. But what becomes of that paycheck?

It goes right back to people just like your boss.

The owner of your favorite coffee shop gets a piece.

Whoever dreamed up your favorite streaming service gets a piece.

Your landlord gets a huge piece.

And your credit card provider? They gobble up whatever’s left.

Everyone gets rich while you’re left scrambling to make ends meet. You get another paycheck and the cycle repeats.

So how do you escape this endless cycle and begin building wealth?

Before you do anything else, you’ve got to pay yourself first.

Start treating your personal savings as the most important bill to pay. Here’s the simplest way:

• Decide how much you want to pay yourself each month and adjust your budget accordingly

• Set-up a recurring automatic payment from your checking account to your savings account. Schedule it right after your payday.

• Pay rent, utility bills, and buy groceries after your automatic transaction goes through

• Use whatever is left for your lifestyle

Remember, the most important person you owe money to is you. Prioritize your own savings and use your income to build wealth for yourself.

You walk out of the office like a brand new person.

That’s because you’ve done it—you’re going to be earning a lot more money with that raise. The first thing that pops in your head? All the fancy new things you can afford.

Dates. Your apartment. Vacation. They’re all going to be better now that you’ve got that extra money coming in.

And to be fair, all of those things CAN get substantially fancier after your income increases.

But one thing may not change—you still might end up living paycheck to paycheck.

Why? Because your lifestyle became more extravagant as your income increased. Instead of using the boost in cash flow to build wealth, it all went to new toys.

This phenomenon is called “lifestyle inflation”. It’s why you might know people who earn plenty of money and have nice houses, but still seem to struggle with their finances. The greater the income, the higher the stress. As Biggie put it, “Mo’ Money, Mo’ Problems.”

The takeaway? The next time you get a raise, do nothing. Act like nothing has changed. Go celebrate at your favorite restaurant. Keep saving for your new treat. But you’ll thank yourself if you devote the lion’s share of your new income to either reducing debt or building wealth.

Rest assured, there will be plenty of time to enjoy the fruits of your labor in the future. But for now, keep your eyes on the most important prize—building wealth for you and your family’s future.

Without careful planning, your money will never go the distance for your retirement.

Well, unless you win the powerball or stumble upon buried treasure.

The simple fact is that retirement can last a long, long time and often be expensive. According to the Federal Reserve, the average American can expect a retirement of almost 20 years, requiring $1.2 million.¹

How long would it take you to save $1.2 million? Even if you could stash away your entire paycheck, it would likely take over a decade. Factor in the daily costs of living, and decades may become centuries.

Unless, of course, you leverage two simple strategies…

Strategy One: Maximize the power of compound interest.

Strategy Two: Start saving today.

These are time-proven strategies that anyone can leverage. And they can mean the difference between your savings running out of steam or lasting as long as you do.

Let’s start with strategy one: Maximize the power of compound interest…

Compound interest can supercharge your savings. Instead of taking centuries, you have the potential to reach your retirement goals just in time!

That’s because compounding unleashes a virtuous cycle. The money you save grows on its own over time.

But here’s where the magic happens—the more money you have compounding, the greater its growth potential becomes. Even a fraction of your paycheck can eventually compound into the wealth you may need for retirement.

Think of it like changing gears on a bike. Savings alone is first gear—good enough for going down hills or casual jaunts through the neighborhood.

But for reaching greater goals, you need more power. Compound interest is those extra gears—it’s an advantage that can radically improve your performance.

That leads straight into the next strategy: Start saving today.

The longer your money compounds, the greater potential it has for growth. To prove this, let’s crunch the numbers…

Let’s say you can save $500 per month. You find an account that compounds 10% annually.

After 20 years, you’ll have saved $120,000 and grown an additional $223,650 for a grand total of $343,650. Not bad!

But what if you wait another 11 years? Your money will more than triple—you’ll have $1,091,660!

The takeaway? A few years could be the difference between reaching your retirement goals and coming up short. The sooner you start, the greater potential you have to get where you want to go.

No more sporadic saving when you feel the panic. No more burying your head in the sand because you don’t know what the future holds. No more fear that your finances won’t cross the finish line.

These simple strategies can help you go the distance and retire with confidence. Contact me if you want to learn more about building wealth!

Wealth, simply put, is the stockpile of resources you have at your disposal.

The rarer the resource, the “wealthier” you are.

On a surface level, that definition conforms to the common stereotypes of wealth. Can we all agree that a stacked bank account is a rare and precious resource?

But dig a little deeper, and you’ll find that wealth takes many shapes and forms.

Your knack for finding the right word at the right time?

Your secret talent for creating with your hands?

Your indestructible support network that’s there for you, no matter what?

Those are all resources. Those are all rare. Those are all wealth. They just don’t have a dollar value… yet.

To be fair, you shouldn’t monetize all of your assets, especially if those assets are people. Leveraging your network for money is something that must be done with the utmost care and respect, if at all.

But the fact remains that you likely possess an abundance of resources that could be converted into increased cash flow. Your talents, your ability, and your time are all precious assets that have the potential to boost your income.

The takeaway? When you break it down, you’re wealthier than you may think. The real question is, how will you monetize the resources you’ve been given?

Automating your finances can take the pain out of wealth-building behavior.

You know how it goes. The thought flashes through your mind—”I need to start saving money!”

And then… well, that’s it. You read a few articles on saving and try to spend less, but after a week or two your mind has moved on.

Why? Because all forms of positive change are energy intensive, at least at first. And your brain, smart as it is, likes conserving energy.

So to jump-start saving, you need to take several one time actions that are borderline thoughtless.

Enter automation. It’s a small step with massive return potential.

It’s simple… • Log in to your online banking account • Set up a deposit • Choose to make the deposit recurring instead of one time

Like that, you’ve set the stage for dozens of wealth-building actions well into the future.

And what did it take? A few taps over a few minutes.

So what are you waiting for? Automate your savings right now. I’ll wait! Even if it’s $5 per month, it’s a step in the right direction—to build wealth for your future!

Starting your own business can be a challenge.

It will test your talents, your mental toughness, and your ability to adapt. And those tests—if you pass them—can spark extraordinary growth.

Here are four ways entrepreneurship will change you.

You’ll develop self reliance.

Entrepreneurs need to learn to solve their own problems, or fail. They don’t have a team to handle the daily grind of running a business.

Instead, new entrepreneurs handle everything from product development to accounting. It’s a stressful and high stakes juggling game.

But it can teach you a critical lesson: You’re far more resourceful than you thought. You’ll learn to stop waiting for help and start looking for solutions.

You’ll discover loyal friends.

One of the downsides of entrepreneurship is that it may expose toxic people in your circle. They’re the ones who might…

▪ Mock your new career

▪ Feel threatened by your success

▪ Try to one-up you when you share struggles

As you and your business grow, you may need to limit your interactions with them. They might be too draining on your emotional resources to justify long-term relationships.

Rather, your circle should reflect values like positivity, encouragement, and inspiration. Those new friends will support you through the highs and lows of entrepreneurship.

You’ll learn how to manage stress.

Late nights, hard deadlines, and high stakes are the realities for entrepreneurs.

To cope, you must build a toolkit of skills that can carry you through the hardest times. Otherwise, you may crack under the pressure and lose any progress you’ve made.

It comes down to one key question: Why do you want to be an entrepreneur?

Are you driven by insecurity? Or by vision?

If you’re trying to prove a point to yourself or others with your business, you may fall apart at the first hint of failure.

If you’re driven by vision, you’ll see failure as part of the process.

Examine your motivations. Over time, you’ll grow more aware of your insecurities. Talk about them with your friends, families, and mentors. As you bring them into the light, you may find they have less and less power.

Entrepreneurship can spark an explosion of professional personal growth. You’ll grow up. You may start with an employee mindset, but you’ll mature into a leader. That’s how entrepreneurship will change you.

P.S. If this seems daunting, start with a side hustle. It can ease you into the role of entrepreneurship without throwing you into the deep end too soon!

Here’s a misleading fact: the United States has the largest economy in the world.

It makes up nearly a quarter of the global economy and has a GDP of roughly $21.44 trillion.(1) But that statistic doesn’t tell the whole story. The truth is that only a few Americans have truly mastered how money works and the rest are lagging behind. Despite having the largest economy, the U.S. ranks 13th in GDP per capita.(2)

And it all begins with the state of financial literacy.

Knowing how money works has never been more important. But it’s becoming an increasingly rare skill among Americans. Here’s a quick look at the significance of financial literacy in the modern world and how ignorance is hampering our ability to build wealth.

The importance of financial literacy is increasing.

Americans are faced with a complex world. We have access to unlimited information on everything under the sun, endless opinions on every issue, and infinite options for entertainment. Money is no exception. The two tried and true safety nets of the past—social security and pension plans—can fall short, so we need to figure out how to provide for our own futures. The options for how to save and grow our money are myriad. Now it’s on us to figure out how to build wealth, save for retirement, and leave money behind for our kids.

Understanding how money works isn’t just helpful for achieving those goals. It’s absolutely mandatory. Saving, budgeting, and the power of compound interest are just a few of the concepts that you’ll need to master before you can start building your financial future.

Financial literacy is decreasing.

Americans are less able to plan and provide for their futures than ever. Financial literacy slid from 42% to 34% between 2009 and 2018.(3) And that number is significantly lower for Millennials than for the rest of the population, with only 17% able to answer 4 out of 5 basic questions about finances.(4) That ignorance shows in our decision making and our inability to build wealth. A stunning 33% of Americans have nothing set aside for retirement.(5) 44% don’t have enough saved to cover a $1,000 emergency.(6) We’re surrounded by money and opportunity but don’t have the knowledge to convert them into personal wealth.

There are several reasons why financial literacy could be decreasing. Financial education is not widely taught in public schools, with less than half of states requiring a personal finance course for a highschool diploma.(7) Perhaps we’ve just been slow to keep up with the rapid changes in the global economy. Or maybe some people benefit from having a large chunk of the population stay in financial ignorance. The lack of financial literacy is most likely a combination of all these reasons! The real question is, do you know how money works? And if not, where will you learn?

Hitting the snooze button.

Brewing coffee first thing in the morning. Working out right after you leave the office. Our lives are full of actions that we’re almost unaware of. Many of them just help us get little things done more efficiently. But some habits can have a huge impact on our lives in either a positive or negative way. Here’s a quick breakdown of how habits work and ways to “trick yourself” into better behavior patterns.

Your brain craves efficiency. It looks for the path of least resistance when it comes to using energy. Making decisions takes a lot of brain power. Too many choices in a day can leave you feeling mentally exhausted, so your brain looks for ways to cut corners. It starts automating little decisions that you make repeatedly. Brushing your teeth, tying your shoes, and checking your social media are choices you’ve made so often that your brain stops consciously weighing in and seems to just spontaneously make you do them.

So that’s why your brain likes forming habits. But the mechanics of how a habit forms is essential if you’re trying to upgrade your unconscious behaviors.

Cues, Routines, and Rewards

A habit can be broken down into three basic components. It starts with a cue. That’s any kind of trigger that makes you want to do something. Actually performing the action suggested by the cue is called a routine. Following the routine usually results in some kind of reward, either physical or psychological.

So let’s say you’ve developed a habit of eating a cookie with your morning coffee. You wake up, put on the pot, and brew a delicious cup of joe. You instantly start craving the cookie when you smell that medium roast goodness. That’s the cue. You reach into the jar, grab the biggest chocolate chip cookie you can get your hands on, and take a bite. That’s the routine. And the tingling joy and comfort you feel when that life-giving treat hits your tongue? That’s the reward that brings you back morning after morning. But the consequence might be that you’ve put on a few unwanted pounds in the last couple of months.

How to use the habit pattern

It’s easy to see how certain habits can lead to some undesirable outcomes. We tend to form habits around anything that rewards our brains, whether it’s junk food, caffeine, or dangerous substances. But our brains also like things such as observing progress and accomplishing goals.

How can we use this to encourage good habits? Here are a few ideas:

• Start really small. Break your desired habit down into pieces and try to regularly perform each one. You might be surprised by how good it feels to accomplish something, which can prompt you to make more and more progress.

• Reward yourself. Some activities are very rewarding in the moment. But not everything that’s good for you leaves you feeling accomplished right away. Try something like only playing video games after 30 minutes of reading!

• Be patient. Habits don’t form overnight. You’ll probably mess up before it sticks. Don’t sweat the little failures and keep trying until that habit becomes second nature!

You can also use this knowledge to break bad habits. Try to identify the cues associated with the habit and avoid or eliminate them. Also, consider ways that you might actually be rewarding yourself for bad behavior. It’s worth asking friends and sometimes professionals for insights into your habits!