I’m all for world-changing goals, but it’s equally important to make small approximations towards success as well.
I have a savings account where money is automatically transferred from my checking account every month, and the desire to dip into that money during lean months is strong.
As any financial expert will tell you, two keys to financial freedom are:
- making saving automatic, and
- never ever touching money set aside for long-term investing
The steps above maximize the effects of compound interest, which puts impressive to extraordinary savings within the reach of virtually anyone.
Anyway, this morning I gave my bank a call and disabled viewing of the savings account in question. Temptation: gone.
Yes, meeting regularly with a financial planner is important along with a dozen other financial literacy best practices. But the little things add up, too.
Willie Jackson is a Diversity, Equity and Inclusion (DEI) Consultant & Facilitator with