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🤑 13 powerful money habits of women who are never broke 🤑
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Hey, it's Rachel— When I was in my twenties, I chatted with my mentor about how long I expected it would take me to make a certain amount of money. He smiled but then started talking about the problem with "kids these days." He shared that everyone wants instant gratification, but that that's simply not how life works. "Good things take time," he said. As much as I hate to admit it, he was right. Reflecting on my mentor's wisdom, I now see how it ties into the concept of compounding growth. Just like building wealth, achieving significant success in any endeavor requires patience and persistence. How do I know? I've experienced it multiple times for myself. For example, in 2010, I started investing a small amount of money. Initially, the growth seemed insignificant, barely noticeable. But as time went on, the interest I earned started to accumulate, and that interest itself started earning interest. I finally saw for myself the power of compounding growth—where the gains build upon themselves, accelerating over time. The same principle applies to personal and professional growth. When you consistently invest effort, skills, and time into your goals, the initial progress may seem slow. However, with each small success, you gain more experience, knowledge, and confidence, which in turn fuels further growth. Over time, these incremental gains compound, leading to substantial achievements. Just as with compounding interest in finance, the steady, persistent efforts you put into your personal and professional goals can build upon each other, leading to exponential growth and significant success over time. The secret is to stay motivated and keep going, even when you're not seeing instant results. You've got to remember that good things take time. In today's email:
Idea of the Week13 Powerful Money Habits of Women Who Are Never BrokeIf you want to learn about the most powerful money habits, a great place to start is with history. I particularly love this quote from Aristotle: ”We are what we repeatedly do. Excellence is not an act, but a habit.” Financial stability is about habits. Resources of the Week
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Need something else? Have a question? Hit reply and let me know what you're looking for. Something NewAdvice CornerQ: I have shiny object syndrome. I'll start a project, research something, have 20 tabs open on my computer (which makes it run super slow), and then I won't feel like working on it the next day. I have a ton of projects 80% complete, but few (if any) make it to the finish line. What should I do? A: I, too, struggle with this problem. One of the best things you can do is FOCUS, aka Follow One Course Until Successful. To do this, start by setting a clear goal (just one!) Really take the time to think about and reflect on what you are trying to achieve. Then, once you've narrowed down what you want and what your #1 goal is, you can work backward from that goal to figure out what your next steps are. Once you have the next steps, make sure they're broken down into tiny bite-sized pieces that aren't ambiguous, and then set deadlines for those small pieces. When a "shiny object" pops up, consider whether it helps you or hurts you in reaching your overall goal. If it won't help you with your #1 goal, don't do it! If it will help you with your #1 goal, figure out when you can fit it in, and be careful not to allow it to derail the deadlines you imposed on yourself. To recap:
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Hey, I'm Rachel!
Ready to prosper, darling? Get juicy success hacks and awesome resources related to passive income, personal finance, and positive psychology delivered straight from my brain to yours. Enter your email below, so you don't miss out.
Hey, it's Rachel— I've always been fascinated with people's dreams of winning the lottery and becoming rich. Did you know: The odds of winning the lottery are one in 300 million. 50% of Americans buy lottery tickets each year. 78% of Americans live paycheck to paycheck. The average American has a 3% chance of becoming a millionaire. What is equally fascinating to me is that so many people leave such a big dream up to chance. Why not just make it happen? While building wealth can be complex,...
Hey, it's Rachel— Do you have a love hate relationship with your phone? You know, sometimes you think it's the best thing ever and it makes your life easier? But sometimes it gets in the way, makes you feel overwhelmed and overstimulated? If this sounds like you, you're not alone. Did you know Gartner (a major research and consulting firm) predicts that by 2025, 50% of people will have either abandoned social media or decreased their usage substantially? And searches for "dumb phones" and app...
Hey, it's Rachel— I was reading You Should Talk to Someone by Lori Gottlieb this week, and a specific quote cracked me up and reminded me of an important lesson we all should remember: "If the queen had balls, she'd be the king." This saying is essentially a blunt way of saying that thinking about what could be if things were different is futile. From a psychological perspective, this phrase highlights our human tendency to imagine alternate realities or what might have been if things were...