This week, I’m talking about how to become a millionaire. 

According to an article in Psychology Today, “some sources suggest that the average person makes an eye-popping 35,000 choices per day. Assuming that most people spend around seven hours per day sleeping and thus blissfully choice-free, that makes roughly 2,000 decisions per hour or one decision every two seconds.”

That’s a lot of decisions. Most of these are pretty mundane, like choosing the next word I’m going to say to you. Maybe you’re deciding right now to take another route to work because of construction traffic, take another sip of coffee, or maybe you’re about to decide to shut me off early today and move on.

But what’s different about millionaires is that when it comes to their money, they are better than the average person at making decisions. They tend to be more long-term focused and avoid impulse purchases. They understand the importance of paying yourself first when it comes to saving money consistently. They choose to live below their means and as I talked about yesterday, they don’t get suckered in to sexy get-rich-quick schemes. 

So how can you and I cultivate better decisions. It starts with knowing the difference between good and bad financial decisions and then beginning to discipline yourself in making better decisions. And the key is starting small. Perhaps you know that you spend too much on coffee at your favorite coffee shop. My wallet would certainly benefit from less trips to Starbucks. Rather than cutting it out altogether, the key is to go one less time a week. Not only will you save a few dollars, you won’t be overwhelmed by this massive change and begin to build the habit of saying no to your desires a little less often.

Making long-term focused decisions is hard. We all have baggage and biases that cause us to make bad decisions all the time. 

But successful people understand that their decisions today will impact their lives tomorrow, and that awareness and commitment to the long-term view helps them make better decisions. 

That’s it for today. Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip.

----------

>>> Subscribe on iTune: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Check out our blog: https://truenorthretirementadvisors.com/blog/

----------

Tags: retirement, investing, money, finance, finances, financial planning, retirement planning, saving money, personal finance, wealth management, money tips, fee only financial advisor, financial planner, financial podcast, retirement podcast, financial independence podcast