The Four Steps
The psychology of money is often more important than the math of it. The mechanics of money are straightforward. You earn, you spend, you save, you invest. But the psychology behind these actions is what truly makes the difference. It’s the little things that matter: mindfulness in spending, identifying and eliminating waste, automating savings, and the power of consistency and incremental growth.
1. Mindfulness In Spending
2. Identify and Eliminate Waste
3. Automate to Accumulate
3. Consistency and Incremental Growth
The power of repetition and incremental increases can lead to significant long-term gains. Make it a monthly routine to review your spending, identify waste, and adjust your automated savings accordingly. Even small incremental increases in your savings can add up over time.