A few months ago, I interviewed a behavioral economist named Dr. Stephen Wendel on my podcast. He suggested an idea that’s so crazy it might work. We were discussing the fact that people often stand in their own way; there’s a gap between intention and action. We know what we “should” do, but we don’t follow through. We procrastinate. We make excuses. We act against our own self-interests. We have an image of our ideal self, we have the reality of our current self, and it’s harder than expected to bridge that divide. Why? Most people try to figure out the problem. “Why can’t I stick to my goals?” But during our interview, Stephen turns this conventional wisdom on its[…]
Category: Save More
Timeline vs. Intensity
“My dreams feel impossible. Everything is so far away. Five more years until I pay off the car. Twelve more years until I pay off the house. Do I have to wait until I’m 50+ to enjoy life?” ______ Let’s say you have a goal that’s audacious and unconventional. You want to create $45,000 per year in passive income. Or you want to live 100 percent debt-free. Or you want to spend a year traveling across Europe, South America and Southeast Asia. Maybe you’d like to take 6 months off work to garden, exercise, and spend time with your kids. Or to focus full-time on starting a business or becoming an artist. How soon can you[…]
The Incredible Power of the 1% Margin for Improvement
Another month is over. Your bills have arrived. You settle down on the couch, scanning through your statements. Sheesh. It happened. You’ve spent more money than you intended. Again. You made a resolution. Maybe for New Year’s. Maybe on your birthday. Maybe on any random day of the year. You promised yourself that THIS time, things will be different. This year would be the year that you pay off your debt. Hit your savings target. Buy that first rental property. Open that retirement account. Start a side business. Boost your income. But the only thing that’s happened is that you’re a little older. Nothing else changed. Despite all your determination, despite all your good intentions, you’re in the[…]
Feeling Overwhelmed? Here’s Why Simplifying is the Smarter Choice (and How to Do It)
I used to be obsessed with optimizing. I opened new checking accounts if a bank offered a $50 sign-up bonus. I monitored gas stations near me to know where fuel was 5 cents cheaper. I once wasted an hour to save $3.60. Stupid, stupid, stupid. I started making real progress once I figured out two truths: #1: I wasn’t “optimizing.” I was maximizing. — and — #2: Simplifying is more powerful than maximizing. Don’t just take my word for[…]
“I Have Big Dreams … and Small Savings. Help!”
There are countless lazy articles on the Internet about how to save more money, 99.9% of which are detached from reality. This is not one of those. Everyday I get emails from readers that say things like: “I want to travel / quit my job/ retire in 10 years. But I don’t have the savings.” “I have big dreams … and big debts.” “There’s no way I could save more. I’m barely treading water.” Does this sound familiar? If so, how would you feel with a giant cash cushion at your disposal? Imagine that you have an extra $10,000[…]
How Erin Saved One Years’ Worth of Expenses, Quit Her Job, and Enjoys More Flexibility
“I only earn enough to make the minimum payment on my loans.” “My boss doesn’t pay me enough, so I can’t save a dime.” “I’d love to quit my job, but I don’t think that’s realistic.” The Naysayer Brigade makes statements like the examples above — statements that give power to their bosses and the economy, while demoralizing[…]
Does Your Lack of Savings Halt Your Dreams?
Several weeks ago, I invited new email subscribers to share their answers to two deeply personal questions: What’s your wildest dream, and what’s preventing you from getting there? The answers poured in to a degree I couldn’t believe. My Inbox flooded with hopes and sorrows. Some people shared brief-but-honest answers; others wrote memoirs. People from all walks of life and all corners of the globe responded. While each person’s dreams and obstacles are unique, a few common threads[…]
Gear Up for the One Percent Challenge!
“I’m scrounging dollars to fill my gas tank. I don’t make enough money to save. At the end of the month, there’s nothing left.” If this feels like you, gear up for a radical shift that will change your life. Last month I announced the One Percent Challenge, a quest for Afford Anything Rebels that can turbocharge your financial life. The concept is simple: save one percent more than usual. Regardless of how much you’re currently stashing, boost this number by one extra[…]
Take the One Percent Challenge
Pop quiz: You’re buying airline tickets to visit grandma for the holidays. She lives on the other side of the nation, too far away to drive. You’ve budgeted $400 for holiday travel, but you can’t find airfare for less than $575. What do you do? a) Tell grandma she’ll have to spend Christmas alone. b) Spend it. You’ll claw the money from somewhere else — maybe you’ll cut back on restaurants or skip your spring[…]
The Ultimate Beginner’s Guide to Financial Awesomeness
You’re trapped by debt. You want to quit your suffocating job. You feel stuck. Or not? Maybe you love your job. You’re debt-free. And you’re just trying to figure out how stay awesome. Regardless of your situation, there’s a basic formula for taking control of your money. This is a simple, three-step formula, ideal for people who want to keep it simple. Master these three steps, and you won’t have to sweat about your bank balance[…]
