RPF0428-How_to_Get_Richer_Every_Day
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00:00:16.320 | Hey radicals, we begin today's show with a short essay
00:00:20.960 | There's a fundamental difference between the things you do every day
00:00:26.320 | Every single day and the things you do only when the spirit moves you
00:00:30.400 | One difference is that once you've committed to doing something daily you find the spirit moves you daily
00:00:36.880 | Rather than having a daily debate about today's agenda
00:00:40.240 | You can decide once that you will do something and then decide every single day
00:00:44.800 | how
00:00:46.640 | to do it
00:00:48.640 | That is an essay on but written by seth godin called daily
00:00:54.240 | Published on his site at on december 21 2014
00:00:57.460 | Seth is well known for being a daily blogger somebody who posts a new article each and every single day
00:01:03.600 | And i've been thinking a lot about the concept of daily and I have noticed that what seth says
00:01:09.760 | in this essay
00:01:12.320 | is
00:01:13.920 | Seems to be very true
00:01:15.440 | The things that you do each and every day the habits that you have each and every day are the ones that stick with you
00:01:21.920 | This is very true when it comes to
00:01:24.080 | brushing your teeth flossing your teeth
00:01:27.440 | Hugging your husband or your wife, whatever the situation is the things that you do each and every day are going to be
00:01:33.280 | powerful
00:01:35.760 | So how can this be applied to money?
00:01:37.760 | Today I want to share with you just some simple ideas
00:01:41.440 | That are a bit counter-cultural
00:01:46.400 | I'm going to talk against some of the advice that we often get I don't have a perfect solution to this advice
00:01:52.560 | but it is a
00:01:55.180 | countercurrent
00:01:56.800 | Theory that I think will be helpful to you and we're going to kick off the discussion
00:02:01.120 | here with reading another essay by
00:02:04.560 | Mark ford mark ford is he's also known under the pen name of michael masterson
00:02:09.760 | He wrote for years and founded a website called early to rise
00:02:13.200 | and
00:02:14.800 | I'm going to read to you an essay that he wrote called how to get richer every day
00:02:17.600 | I read this essay, I think probably six seven eight years ago
00:02:20.240 | He he doesn't have a time stamp on the essay and it's published all over the web
00:02:24.640 | So I can't cite the exact time but i've read this essay many years ago and it always stuck with me
00:02:30.560 | So here I read
00:02:32.720 | Mark's essay called how to get richer every day
00:02:35.360 | Of the hundreds of wealth building strategies i've tried over the years. The best one was also the simplest
00:02:41.280 | Make sure you get a little bit richer
00:02:44.560 | every day
00:02:46.480 | This thought occurred to me more than 30 years ago
00:02:48.640 | I'd recently decided to become rich and that decision had me reading and thinking about wealth building day and night
00:02:55.600 | I had daily fantasies of getting rich in all sorts of fancy ways, but deep down inside. I knew complicated strategies were not for me
00:03:03.440 | When it came to making money, I was extremely risk averse in the race to a multi-million dollar retirement. I was a tortoise not a hare
00:03:13.040 | At the time I had a net worth of zero and an annual salary of thirty five thousand dollars
00:03:18.000 | With three small children and my wife in college our expenses were gobbling up every nickel of my after-tax income
00:03:24.320 | So my first wealth building goal was small
00:03:27.120 | I would get richer by just ten dollars per day
00:03:30.640 | I knew I would eventually raise the ante but I wondered
00:03:33.680 | How much money would I acquire in say 40 years by just putting an extra ten dollars aside every day in a bank account?
00:03:39.600 | earning five percent per year
00:03:42.080 | I did the numbers and was happy with the answer almost half a million dollars
00:03:46.240 | My total capital invested would be one hundred forty nine thousand six hundred and fifty dollars
00:03:51.760 | the simple interest would total one hundred and fifty six thousand nine hundred and fifty dollars and the compounded interest would amount to
00:03:58.720 | one hundred and eighty two thousand sixty one dollars for a total of
00:04:02.560 | four hundred eighty eight thousand six hundred and sixty one dollars
00:04:06.160 | Then I wondered what would happen if I put away fifteen dollars per day
00:04:10.880 | That came to seven hundred nineteen thousand six hundred and four dollars
00:04:14.720 | And then I asked what would my retirement fund grow to at eight percent that came to just over six one point six two million
00:04:21.520 | You can imagine my excitement and so I made this my number one wealth building commandment
00:04:27.700 | Get a little bit richer
00:04:30.400 | every day
00:04:32.240 | But I soon realized that I couldn't follow this rule consistently
00:04:35.300 | If I invested my money in stocks the market fluctuated too much
00:04:40.320 | I'd be worth one hundred and ten thousand dollars one day and one hundred and eight thousand dollars the next
00:04:46.240 | My friends and colleagues who knew more about investing than I did told me not to worry about these short-term fluctuations
00:04:52.820 | They said if I kept my focus on the long term i'd get the nine percent or ten percent the market delivers over a long period
00:04:59.280 | Of time, but even though I understood the principle. I didn't want to settle for that
00:05:03.360 | I resolved the problem. I put the bulk of my retirement savings into municipal bonds
00:05:09.360 | high yielding bank cds and
00:05:11.360 | Unleveraged rental real estate properties this drastically reduced my portfolio's volatility
00:05:16.580 | But it also
00:05:18.800 | in theory at least
00:05:20.240 | Reduced my expected ultimate return on investment
00:05:22.980 | I compensated for that lower roi
00:05:26.240 | By taking on more work and devoting a portion of that extra income to my retirement savings
00:05:31.200 | That ensured I was always ahead of my schedule, even if the roi I was getting on bonds cds or real estate dropped
00:05:38.880 | This simple tortoise paced program worked
00:05:42.160 | Since I made this resolution in the early 1980s. I have never experienced a single day of being poorer than I was the day before
00:05:50.000 | Think about that
00:05:52.480 | And there's more submitting yourself to this commandment will change the way you think and feel about building wealth
00:05:58.560 | It will help you appreciate the miracle of compound interest. It will make you less accepting of risk
00:06:04.720 | It will make it easier to understand the benefits and drawbacks of every type of investing
00:06:09.280 | And it will turn you into an income addict
00:06:12.480 | Which in my book is an essential component of thinking rich
00:06:16.560 | If you want to use this strategy for retiring rich begin as I did with a goal of ten dollars per day
00:06:22.640 | Once that becomes easier, you'll find that you want to raise the ante
00:06:26.320 | You could hike it to fifteen dollars per day as I did my first year
00:06:30.640 | But soon thereafter your addiction to income will make it possible for you to raise your target much higher than that
00:06:36.560 | These days my target is ten thousand dollars per day
00:06:40.800 | And I do it without worry
00:06:43.360 | I've explained this strategy to many people over the years and I don't think a single one ever took it seriously
00:06:48.900 | Perhaps it didn't seem clever enough for them or perhaps they felt they were already doing well by following the investment schemes
00:06:55.520 | They were using at the time
00:06:57.280 | But none of them ever acquired the wealth I did
00:07:00.560 | They sometimes had great individual hits they'd tell me about or even streaks of winners when the markets were favorable
00:07:06.820 | But as time passed Mr. Market always had his way with them
00:07:10.480 | In the race for wealth, I've always been a tortoise
00:07:13.620 | But by following this simple rule of getting richer every day
00:07:17.200 | I was able to do better than I ever expected without a single day of feeling poorer than I was the day before
00:07:27.920 | Now again that essay is written by Mark Ford and it's called how to get richer every day
00:07:33.440 | I hope the concept of the essay grips you because I think it's a particularly valuable concept
00:07:40.240 | Unfortunately, I don't think that the essay delivers on its title
00:07:44.240 | I think the title is a well-chosen title that is provocative and intriguing
00:07:50.340 | But the essay doesn't actually answer the question of how the essay simply says you should do this
00:07:57.040 | and
00:07:58.080 | For years i've had this essay in the back of my mind or the simple concept i've long appreciated
00:08:03.140 | Mark Ford's writing I stumbled across him when I was in college when he was penning the early to rise blog
00:08:11.200 | Which or excuse me?
00:08:13.120 | It was primarily centered around a newsletter not a blog the early to rise daily email newsletter
00:08:18.240 | And I enjoyed his writing. I found him to be down to earth and extremely
00:08:23.820 | Relevant to me and so for years I followed early to rise
00:08:27.260 | And I found a lot of their concepts very very useful at one point. I considered
00:08:33.340 | Getting a job with them and working with them. I was interested in pursuing a job as a copywriter
00:08:38.720 | And their offices were based in delray beach, florida
00:08:42.620 | And which is near where I live in west palm beach, florida
00:08:45.740 | So i've long admired him and i've often admired his writings on wealth and this particular
00:08:51.980 | Concept is always stuck in my craw
00:08:53.980 | In a good way
00:08:57.260 | And so today I just want to talk about it a little bit I want to lead off with simply saying that
00:09:02.140 | I don't know how
00:09:04.620 | To do this. I don't know how to actually get richer every day
00:09:11.100 | Mark's concept here is that
00:09:16.140 | By focusing on the requirement of getting richer every day you will pursue things that are more conservative
00:09:22.240 | Because your goal is to make sure you don't lose money and I want to focus on
00:09:26.940 | Some and we'll discuss that further in a moment
00:09:29.980 | But when it actually comes how to guarantee this I don't see any way that it's possible to guarantee
00:09:36.640 | It's more of a mindset
00:09:40.140 | an ideal
00:09:41.820 | that
00:09:43.180 | Is useful as a target but never actually attainable
00:09:46.480 | fully
00:09:48.380 | Although if I could I still think about how could it be done? The reason I say it's never
00:09:52.700 | fully
00:09:55.000 | Attainable is if you use his examples
00:09:57.280 | Municipal bonds, you know cds are not going to go down in nominal value. They could go down in real value meaning
00:10:04.140 | Their actual stated dollar figure is not going to go down
00:10:07.820 | They're guaranteed but they could go down in inflation adjusted terms
00:10:11.820 | but municipal bonds can go down in value even though they are more conservative than
00:10:16.460 | a portfolio of stocks
00:10:18.540 | they still can go down in value if interest rates rise the bond values can fall and if
00:10:22.620 | you are not yet at a point in your
00:10:24.940 | wealth building career where you're saving as much money per day as your bonds have gone down in value then
00:10:30.780 | You could in theory lose money same thing with real estate
00:10:34.060 | Even though here he talked about non-leveraged real estate the value of a real estate portfolio can fall
00:10:39.340 | Now my guess would be that if I were talking to mark about this concept and I were raising those objections he would say
00:10:46.220 | You should be paying attention to that. He would say
00:10:49.100 | If your goal is to get richer every day, then you should be paying attention
00:10:53.040 | And recognizing that you might need to adjust your portfolio
00:10:56.320 | I think he would say that because I know that
00:10:59.740 | Back in 2007 2008 when south florida real estate was heavily hit
00:11:04.620 | I don't believe that he was fully invested in the local south florida real estate market at that time
00:11:11.100 | And perhaps this theory that he has that I have to get richer every day was a theory that influenced his decisions
00:11:17.920 | When the risk
00:11:20.060 | Rose in real estate. He focused on getting out
00:11:23.340 | So I don't know how to teach you how to get richer every day
00:11:28.860 | I do know that my appreciation of this concept
00:11:33.260 | Has dramatically changed?
00:11:36.380 | In the last five to ten years in my own thinking
00:11:40.220 | I grew up reading the basic nuts and bolts of
00:11:46.700 | mainstream personal finance
00:11:50.040 | and one of the core pieces of advice that is given in mainstream personal finance is
00:11:57.100 | When you are younger you can afford to take more investment risk
00:12:02.220 | This is usually advice that's given in the context of selecting a portfolio of stocks
00:12:10.540 | The idea is that if you're younger you can afford to be more aggressive with your portfolio
00:12:16.640 | Because you have more time to wait out any drops in the value of the market
00:12:26.140 | In the stock market if you want to get a higher total potential return
00:12:31.340 | You have to be willing to sit through periods of higher volatility, which means greater risk of short-term loss
00:12:39.340 | So traditionally those who are young are advised and if you're not advising this there's no way that you're going to keep an investment license
00:12:47.260 | So this is 100
00:12:49.660 | mandated group think
00:12:51.720 | Those who are younger are advised to have portfolios that are
00:12:55.580 | weighted more to the risky side
00:12:57.580 | A higher percentage of
00:13:00.460 | stocks
00:13:01.740 | Versus bonds and here by risk i'm referring to volatility. So let me switch to using volatility rather than risk
00:13:07.980 | The idea is that younger investors can manage a portfolio with more volatility more ups and downs
00:13:15.660 | I get that
00:13:19.980 | And to some degree I think it's true
00:13:22.460 | It's especially true if you could in some way guarantee or at least heavily influence an investor to stay invested through the down times
00:13:30.300 | after all
00:13:32.380 | A loss is only a real loss
00:13:35.020 | If you realize the loss
00:13:37.820 | You can have a loss that's on paper
00:13:41.100 | a nominal loss
00:13:43.340 | The value of the assets has gone down when measured to market value
00:13:47.820 | But you don't actually recognize the loss or realize the loss until you sell the investments
00:13:52.960 | So younger people by not needing the money sooner
00:13:57.180 | Should be able to sit tight through market downturns and thus not realize the losses and they have more time for the portfolio to rebound
00:14:05.580 | So I think that investment strategy is sound
00:14:08.460 | I can't it makes sense in a way
00:14:15.340 | And again every single licensed financial advisor, which I used to be I am no longer
00:14:20.220 | But every single licensed financial advisor is going to be required to make
00:14:24.780 | recommendations on that basis for for clients
00:14:28.300 | The younger you are the more aggressive you can be I stand by that recommendation
00:14:32.320 | I have no problem with young people owning a portfolio of 100% stocks
00:14:36.460 | I have more questions about
00:14:39.260 | Somebody recommending a portfolio 100% stocks to somebody who's 90 years old
00:14:45.260 | But the problem that I have is this
00:14:48.460 | When is it more devastating for you to lose money
00:14:59.660 | When you're poorer
00:15:03.260 | Or when you're richer
00:15:05.660 | And when I overlay that question
00:15:13.100 | To what mark ford talks about in his essay
00:15:15.180 | I have a hard time being as confident in the financial advice that I used to give to young people
00:15:21.500 | to go all in stocks
00:15:24.780 | I've increasingly come to appreciate
00:15:29.420 | The safety or having safe money and i've increasingly come to appreciate
00:15:37.200 | having
00:15:39.880 | Accessible money, especially for young people
00:15:43.420 | I
00:15:45.420 | Want you to consider this question and i'm going to use extreme examples to demonstrate the point
00:15:50.860 | If
00:15:54.300 | You are very poor
00:15:56.300 | And you have a hundred dollars in savings
00:15:58.860 | And you lose 50 of your savings
00:16:02.780 | Your hundred dollars of savings drops to fifty dollars in savings
00:16:07.260 | Think about the impact that will have on your life
00:16:12.860 | If you were in that situation
00:16:14.860 | Now compare that to somebody who has one million dollars of savings
00:16:21.580 | And they lose 50 of their savings dropping them to five hundred thousand dollars of savings
00:16:28.940 | And think about the impact of that on their life
00:16:33.100 | Certainly neither of these people is going to be happy
00:16:40.300 | But
00:16:42.300 | If you had a hundred dollars in savings and you lost half of it
00:16:45.020 | That might mean that your cell phone bill doesn't get paid
00:16:48.540 | Or that you and your children don't eat today
00:16:51.580 | There is a huge potential disruption in your day today
00:16:58.860 | If you lose fifty dollars of your hundred dollars of savings
00:17:03.020 | But if you have a million dollars of savings and it goes down in value to five hundred thousand dollars
00:17:09.100 | You're most likely going to eat
00:17:11.100 | And you're most likely going to be able to pay your cell phone bill
00:17:14.700 | It's much more devastating
00:17:21.180 | for you to lose money when you are
00:17:24.300 | Poorer than when you are richer
00:17:27.020 | At least in terms of impact on your lifestyle. I don't know whether it's more devastating psychologically
00:17:33.280 | To watch half a million dollars disappear versus watching fifty dollars disappear
00:17:39.420 | I don't I have not researched that question to see if it's been studied in an academic format
00:17:43.980 | But it's much more devastating with potential impact to your life
00:17:49.020 | I think that we who are
00:17:53.740 | Thinking about money and we who are giving financial advice
00:17:56.700 | Should really consider how to apply this concept of getting richer every day as a way to hedge against this risk
00:18:08.220 | First I think it's a useful way of considering. I think it's a useful way of thinking
00:18:11.420 | What can I do today?
00:18:14.140 | To get a little bit richer. What can I do today to set a little bit more aside? What can I do today?
00:18:21.020 | To make sure that my investments grow in value
00:18:23.980 | I think by not accepting
00:18:27.660 | I think that often i've been too cavalier about accepting the potential for loss
00:18:34.300 | And as i'm getting older still being a young person but thinking more about money i'm much less accepting of the potential for loss
00:18:41.420 | I want a little greater margin of safety
00:18:46.780 | And as I consider all of the clients that i've worked with and all the situations that i've interacted with
00:18:51.900 | I think we underestimate the impact of loss, especially in the early years
00:18:56.540 | It's pretty devastating for young people to lose substantial amounts of money
00:19:02.940 | Yes, they have more time
00:19:04.940 | They can keep working and do it and earn it back again
00:19:08.140 | But it's pretty devastating
00:19:11.340 | And when I think about a scenario like mark ford
00:19:14.460 | Discussed in his essay here
00:19:17.880 | I find an elegant simplicity in this type of advice
00:19:22.380 | Start by making sure that you get ten dollars richer every single day and then move your goals up
00:19:31.980 | This type of focus puts your attention in the right space
00:19:34.780 | For example, if your goal is to get ten dollars richer every day that's going to start with your saving ten dollars every day
00:19:42.220 | Then if you're doing like he described and you
00:19:46.940 | You refuse to go
00:19:49.260 | To have your wealth drop on any day. You're going to naturally purchase appreciating assets rather than depreciating assets
00:19:56.620 | Rather than depreciating assets if you're tracking your net worth on a daily basis, you're naturally going to avoid
00:20:02.700 | Purchasing the car that will depreciate quickly
00:20:05.500 | Or purchasing the consumer item that will depreciate quickly and you're naturally going to move in a positive direction
00:20:11.740 | You're going to recognize that I need to set this aside so that the interest grows
00:20:15.500 | This simple concept could help many young people
00:20:23.660 | Avoid many of the consumerist mistakes
00:20:26.460 | Get richer every single day that means in the early years you can't buy the expensive stuff
00:20:34.860 | You can't buy the expensive stuff until your wealth is paying for it the increases of your wealth are paying for it
00:20:44.460 | I think this also puts the focus in the right direction of focusing on safety first safe investments first
00:20:52.380 | And the reason I think this is so powerful is that safe investments will give the person more confidence
00:20:57.680 | I've observed that when I've owned stocks, I often have not had a lot of confidence in the dollars printed on that page
00:21:07.740 | Because of the volatility now intellectually
00:21:12.400 | I've trained myself to be a good investor so that intellectually I can handle it and I can discipline myself
00:21:20.940 | But i've noticed emotionally a different effect when I own things that are safer
00:21:26.940 | And i've noticed how much freer my decision making has been when i've had more of my wealth into things that are safer
00:21:36.300 | Given the choice between this appreciation of safety
00:21:41.740 | And the academic intellectual acknowledgement of higher potential returns if I would just discipline myself
00:21:50.220 | I'm finding a higher level of happiness
00:21:52.220 | with safety
00:21:55.100 | A higher level of enjoyment of life with safety
00:21:57.660 | That doesn't mean i'm not willing to take a risk
00:22:00.620 | I hope that's coming through loud and clear that doesn't mean i'm disagreeing with the fact that younger investors
00:22:06.480 | Can afford to have a portfolio that's allocated more aggressively
00:22:11.280 | What I am taking issue with
00:22:16.220 | Is the idea that that advice the advice for young people to invest aggressively in stocks
00:22:21.260 | Actually works most effectively
00:22:25.280 | I'm not convinced it does anymore and i'm not convinced it does because I don't think it keeps people's focus in the right area
00:22:33.820 | Mark ford's strategy here is behavioral and that's my third point about it
00:22:40.380 | It's behavioral
00:22:43.660 | In order to actually follow through and get richer every day you have to track your money
00:22:48.380 | You have to save diligently you have to research and think about investments
00:22:52.700 | You have to think about risk very very carefully and make sure that you understand it. You have to calculate risk
00:22:58.540 | That's how I could see stock investing fitting into this strategy now mark is not a huge fan of
00:23:07.820 | Of mainstream stock advice, but I have no problem fitting that into this
00:23:12.380 | this simply means that
00:23:14.060 | You calculate the standard deviation of your portfolio that gives you or you use the number that is the calculated standard deviation of your portfolio
00:23:21.200 | That gives you what the the volatility might be and then you take that number and you fit that number into your planning
00:23:29.580 | On on your portfolio so that you make sure that as he said if i'm getting ten thousand dollars richer every day
00:23:36.540 | Then make sure that on any average day. It's less likely that my portfolio is going to go down by more than ten thousand dollars
00:23:43.520 | That'll make a big difference over time
00:23:47.820 | I don't have anything more to add on the the on this topic than that
00:23:56.940 | So i'm going to wrap up the show with just a couple of quick things that you can do to pay attention on a daily
00:24:01.260 | basis very practical things
00:24:04.140 | Because if you want to get richer every day, it may start for some of you by thinking about it conceptually
00:24:08.940 | But for most of us it starts with actions
00:24:10.940 | And the things that we do daily are usually the things that are going to make the biggest impact in our lives
00:24:17.980 | Notice this in the food that I eat
00:24:21.260 | I've noticed that people who exercise consistently generally tend to be those who do it just about every day
00:24:28.060 | with rare exceptions
00:24:30.460 | Notice this in a number of a number of places
00:24:33.020 | So here are just a few simple things that you can do
00:24:36.140 | To focus on a daily basis so that you can continue to get richer every day
00:24:40.860 | Bring focus and attention to your money
00:24:46.700 | Write down every single financial transaction on a three by five card and consider
00:24:51.740 | figuring out
00:24:53.980 | How much your expenses cost you on a daily basis?
00:24:58.380 | If you wanted to get richer every day, you would have to actually know how much was coming in every day
00:25:02.540 | And actually know how much was being spent
00:25:05.020 | every day
00:25:07.820 | One suggestion i've made in past episodes of the show and I have found very useful is to change the scale
00:25:13.420 | Of the financial transaction in order to make it more relevant
00:25:17.580 | If you take a and you're just simply looking at say the difference between renting a two thousand dollar a month apartment and a three thousand
00:25:25.580 | dollar a month apartment
00:25:27.180 | it doesn't sound like that big of a difference because
00:25:30.380 | both of those are in the ranges of
00:25:33.260 | of appropriate rents
00:25:36.220 | That that people that people are make are will pay
00:25:39.020 | But if you break two thousand dollars down into 30 days and recognize that you're going to be spending 66 dollars per day
00:25:44.780 | And the question is do you want to spend 66 dollars per day?
00:25:48.620 | Or a hundred dollars per day on your rent?
00:25:51.580 | All of a sudden that number can be more emotionally strategic
00:25:57.280 | So write down each transaction and then figure out how to look at it on a daily basis
00:26:01.760 | If you're going to get richer every day, you need to know how much you're spending every day and how much you're saving every day
00:26:08.640 | A couple other little tips make sure that you're saving money every single day
00:26:16.960 | If it's possible that mark ford's concept is only useful in the early stages of wealth
00:26:26.320 | It's possible that it's not as useful down the road
00:26:29.120 | I don't know since I don't know him. I haven't asked him this
00:26:33.120 | I don't know how much of this is written for rhetorical flourish versus something that he actually does every day
00:26:39.760 | I don't know
00:26:42.160 | Most things that are useful when we're just learning them simply become habits and then those habits guide us to the right place
00:26:48.080 | But in the early years, I think this could be so valuable
00:26:53.200 | If you want to save money every day a great place to start is with a piggy bank or
00:26:57.680 | modern jar version of that
00:27:00.800 | And put a ten dollar bill in there every day
00:27:03.840 | Or set up a daily transfer from your checking account to your savings account every day
00:27:10.640 | Make sure that you're prioritizing setting aside money every day
00:27:20.000 | Or I have also found this to be very powerful in my own life if you're paying down debt
00:27:25.760 | Make sure that you owe less money at the end of every day than when you started
00:27:31.920 | I love
00:27:35.040 | I mean, I think the word that some people would put on this would be the concept of little snowflake payments, right?
00:27:39.440 | Coming up against the the concept of a debt snowball
00:27:42.240 | snowflakes
00:27:44.160 | Basically just put little chunks
00:27:46.160 | And keep a focus on it every day
00:27:49.520 | I've recently tried to really home in and resurrect some of my skills that have gotten rusty
00:27:55.280 | So i'm writing out my goals every day. I'm writing out my list of projects every day. I am
00:28:02.000 | Putting those on I put those on a three by five card
00:28:05.280 | I have a couple three by five cards slide it in my pocket rewrite them in the morning
00:28:09.200 | That daily focus on those projects and goals and top priorities
00:28:13.060 | Helps me to focus my energy on the things that matter
00:28:16.480 | And doing it every day
00:28:19.840 | Is very helpful
00:28:21.840 | So if you're trying to pay down debt
00:28:24.320 | Make sure that on your three by five card you write down. My goal is to be debt-free by the date of
00:28:31.520 | And here's how much I owe then make sure that every day you can put a little check mark towards that
00:28:40.240 | I'm focusing on my personal health
00:28:44.400 | Really seeking to make progress on that
00:28:47.680 | So each and every day, what is the thing that i'm doing today?
00:28:50.560 | To make sure that i'm moving
00:28:53.440 | That i'm increasing my health. What am I doing today to contribute to this goal?
00:28:57.600 | Take these little micro efforts apply them in your life
00:29:04.160 | Then let me know
00:29:07.760 | how they work
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