Learn to be “Richer, Wiser, Happier”:

What behaviors are keeping you from being the richer, wiser, and happier person you should be?

A budget is the most simple money concept that exists.
Budget - a simple estimation of income and expenses over a period of time.
Why do so many struggle with this concept if its so simple? Most people struggle because they focus mostly on dollars. It’s an obvious, natural focus but what if the struggle is due to focusing on the wrong thing?

What does it mean to be Richer, Wiser, Happier?

One of my favorite things to do is study the mindset of the financial titans of recent and past history. Why were they successful? What mindset did they have? How did they navigate all of the issues they had to deal with? When you do this, you realize why they became wealthy and it doesn’t have much to do with privilege as some may believe or even the large sums of money they’ve accumulated.
Here’s what I found: Their behavior is what causes them to be wealthy.

In the book “Richer, Wiser, Happier”, by William Green, a financial journalist, the mindsets of famous hedge fund managers are uncovered. I noticed a gem💎.

Every hedge fund billionaire noted in this book shared these traits:

1. They are centered and are aware of who they are.

2. They had incredibly strong convictions.

3. The convictions governed their lives and carried over to their investing style.

4. The money didn’t change who they were. 💰

It hit me! The wealth is accumulated from your behavior and NOT the money you make. If you make a lot of money but don’t discipline yourself, the money will soon disappear.

Budgeting Behavior

This led me to the concept of behavior budgeting. Yes, having more money to save and invest is the end goal, but can’t be the initial focus. Behavior budgeting gets to the root of the actions you need to take to be successful.

Here’s an example of how this process could work:

• I should only eat out for lunch twice this week to keep me on track financially, I need to plan on meal prepping the Sunday before.

  • Most people end there because the spending is the only focus but this process requires more…

• I then ask myself why I didn’t meal prep in the past like I already knew I needed to.

• I’ll focus on what I need to change in my life to make sure I have enough time and energy to get groceries and meal prep.

  • I can’t fool myself and pretend that I’m following through if I’m too tired.

• This leads to a resolution on my energy level: Get enough sleep. 🛏️

• Whatever I have planned for the weekend, make sure I rest enough to not be drained when its time to show up for myself.

In this example, we started with money and ended up with sleep. What if the behavior of not sleeping enough is the reason you aren’t reaching your financial goals? Everything we do is impacted by everything else we do, or don’t do.

Have these conversations with yourself to understand where you want to be and what needs to change in your behavior to get there.
What behaviors are keeping you from being the richer, wiser, and happier person you should be?

This week’s most important finance topic:

🚀 Big News in the Crypto World: The SEC’s Green Light to Bitcoin ETFs! 🚀

In a move that's stirring up the financial world, the SEC just approved the first-ever Bitcoin ETF! This is huge for #Bitcoin and its role in the U.S. financial scene. But let's break down what this really means:

1️⃣ A Bit of History: Back in 2013, the idea of a Bitcoin ETF seemed like a distant dream. The SEC was wary, citing concerns about regulation and the potential for manipulation. Fast forward to now, and things have changed big time!

2️⃣ What Change? Last year, a court decision challenged the SEC's stance, branding it as "arbitrary and capricious". Talk about pressure! This nudged the SEC to reconsider its position on Bitcoin.

3️⃣ Regulation Ready: A decade later, the SEC is now equipped to oversee the trading and investing in Bitcoin, paving the way for Bitcoin ETFs on U.S. stock exchanges.

4️⃣ The Fun Part:: Get ready to invest in Bitcoin ETFs managed by 11 well-known investment companies. No more hassle with crypto wallets and private keys - investing in Bitcoin just got easier!

5️⃣ The Tricky Part: Remember, these ETFs aren't the same as owning Bitcoin directly. They trade like stocks, within market hours. But Bitcoin? It’s a 24/7 affair.

6️⃣ Expect the Unexpected: With Bitcoin’s notorious volatility, the value of these ETFs could see some wild swings, even when the stock market's closed. Brace yourselves for a rollercoaster ride!

7️⃣ The Future of #Bitcoin: It's anyone's guess. This could be the push Bitcoin needs to soar even higher. Or, skepticism might linger, especially with potential scandals on the horizon.

8️⃣ Regulation: A Double-Edged Sword: Bitcoin's initial charm was its lack of regulation. Now, as it steps into the regulated world, how will that impact its allure?

The future will be very interesting for the crypto world moving forward.
REMEMBER: This does not eliminate all risk and volatility of cryptocurrencies. This only exposure to bitcoin in a more regulated environment.