Action 1
This is going to be really fucking hard for some of you….
Slash your expenses by 50%.
In 2016, my rent was $300.
I had a phone bill, a tiny car note, minimal car insurance.
You get the picture.
My overall bills were less than $1,000 a month, and I was earning close to 6 figures at the time.
I saved money.
I paid off my car.
That’s it.
Action 2
Add a new consistent income stream within 30 days.
Feeling nuclear? Add two consistent income streams within 30 days.
Betting all your money on ONE horse is a fool’s game.
Doesn’t matter how or what as long as it’s ethical.
GET creative.
Action 3
Automate your investing starting with $5 a week.
You can start with Acorns or Fundrise.
Acorns will give you $5 to sign up.
Fundrise will give you $50 to sign up.
That’s $55 for you right there — two months worth of investing.
Don’t leave money on the table.
Action 4
Say “no” to everyone and everything for 90 days.
Media, advertisements, friends, family, coworkers, and strangers.
Everything and everyone receive ‘no’ from you for 90 days.
The only person you’re saying “yes” to is your future self.
The only thing you’re saying “yes” to is your wealth bucket.
A lot of people who have money end up going broke.
A lot of people who don’t have money end up staying broke.
Why?
Zero boundaries with themselves; they don’t know how to shut down their impulses.
And zero boundaries with others; they don’t know how to say “no” to others.
Action 5
Be consistent with financially productive actions over the long-haul.
I love sacrifice drills. Sometimes it’s no dessert for a year, no eating out for 6 months, no gum for two years, no soda, hot dogs, or Twinkies for a lifetime.
A lot of the things I’ve sacrificed over the years became pivotal to how I operate today. I used to not be able to control my sugar intake when I was younger, now I can turn it off at any point like a light.
Whatever you sacrifice long-term ends up becoming part of your identity.
What classifies as financially productive actions?
- Live below your means.
- Save before you pay your bills and before you spend your money.
- Set financial boundaries with yourself and others. Say “yes” when you mean it. Say “no” when you’re not feeling it.
- Invest like someone is threatening your life if you don’t.
- If you don’t know how to do something or if something doesn’t make sense, that’s on you. Learn sooner than later. Regularly acquire sound and reliable financial knowledge. Do this so your ignorance tax doesn’t eat away your financial future.
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This article is for informational purposes only. It should not be considered financial or legal advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.