What is one habit? | 3rd Level Wealth
What is one habit that would change your life over the next year?
Maybe it is exercise. Maybe it is reading. Maybe it is a habit that you want to eliminate or maybe it is a habit that you want to start.
As I was taking a walk over the memorial weekend down at the in-laws in Austin, I thought about a year from now. Memorial Day weekend 2024. If I were to take another walk in the same neighborhood over the same weekend in 2024, what changes would I want to make in my life?
I think a lot of us are motivated at New Year’s to start resolutions and become a better person. But why does it have to be New Year’s? Why can’t it be any day of the year?
One of the reasons why I think this is an important question is because habits tend to start off small and innocent. The good ones and the bad ones. So if I know that all habits tend to start off small, then how can I apply that to my finances?
What if I committed to investing money into an account over the next 12 months? And what if that amount was so small that it was insignificant to me? What would happen?
I think saving, investing and money in general can be overwhelming. It’s the overwhelming part that prevents us from getting started. So in order to make progress, I’ve got to be okay with an inch instead of a mile.
So how do we do that?
Decide to open an investment account or contribute to one that you have that is already open. Decide on an amount or percentage that you think is too small and insignificant. Make a commitment to invest that amount over the next 3,6, or 12 months and reevaluate.
Progress is always small. Give yourself some grace. Have a goal to reflect back on Memorial weekend in 2024 and celebrate a financial habit created.
Or don’t do anything, save this letter and wonder if you could start this habit in the coming year…
3rd Level Wealth
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