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Its about consistent habits and smartmoneydecisions.
These monthly check-ins will help you spot issues early and fix them before they cause more financial trouble.
Review whether youre overspending, not spending enough or falling behind on your savings or investments.
Prioritize Paying Off Debt Fast
High-interest debt, especially from credit cards, is a wealth killer.
He recommends the C.E.O.
approach (cut costs, earn more and optimize spending).
Review your expenses and cut those you dont care about.
However, doing so will transform your life.
He advises thinking long-term and seeing the big picture down the road.
Remember that every step youre taking in the right direction will pay off.
Build a Financial Moat
A financial moat is like anemergency fund.
Life happens, and having a safety net can give you peace of mind.
An urgent medical bill, car repair, or sudden job loss can wipe out years of savings.
You dont want to be in a situation where youre going into debt because of something you didnt expect.
A key to getting and staying ahead is to have a three- to six-month emergency fund, he said.
Sethi recommends investing in low-cost index funds consistently and doing it automatically.
Index funds have consistently outperformed actively managed funds for years, making them an attractive investment option.
Thats why you’re gonna wanna surround yourself with the right people.
What went well this year?
What didnt go well?
Where are you today with your goals?
What would next year look like?
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