Success Engine: 7 Habits Keeping You Poor

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Today At A Glance

  • Question: Your Financial Health
  • Deep Dive: Overcoming 7 Habits Keeping You Poor
  • What I’m Thinking About: Visually-Appealing Marketing

reading time: 3 minutes


Are you living paycheck to paycheck?

Roughly 60% of Americans live paycheck to paycheck. Unfortunately, living this way leads to financial insecurity, limited savings and investment opportunities, and a restricted lifestyle. Additionally, living paycheck to paycheck promotes unwanted stress and anxiety.

Breaking free from this cycle is essential for achieving financial freedom and securing a better future. In this week’s deep dive, I discuss seven habits that keep people poor and how to overcome them. 

Deep Dive

If you like this week’s deep dive, my full-length video, and article go even deeper.

7 Habits Keeping You Poor and How to Break Free

Note: Before making any financial decisions, please see the disclaimer at the end of this email.

Bad Habit 1: Not Investing In Yourself

One way to build wealth is by acquiring valuable skills people are willing to pay for. In doing so, you’re increasing your earning potential. So, invest in yourself to unlock new opportunities.

Bad Habit 2: Not Understanding Your Income & Expenses

It’s hard to improve something if you don’t understand it. To get a clear picture of your finances, track your income and expenses. Doing so reveals bad spending habits and helps you take control of your financial life.

Bad Habit 3: Putting Things On Credit

Using credit cards recklessly can lead to high-interest payments and wasted money. Instead, control your spending by only using your credit card when you can afford to pay in cash.

Bad Habit 4: Paying Yourself Last

Don’t let months or years pass without saving or investing. Prioritize paying yourself first by saving a percentage of each paycheck before other expenses. Your future self will thank you.

Bad Habit 5: Not Having An Emergency Fund

Prepare for unexpected events by building an emergency fund with 3-9 months of living expenses. It prevents you from going into debt and provides financial security.

Bad Habit 6: Not Investing Early

Start investing as early as possible to benefit from compound interest. The sooner you put your money to work, the greater the potential for long-term gains. Don’t miss out on the power of compound interest.

Bad Habit 7: Buying Liabilities

Avoid buying things that lose value over time (liabilities) and focus on acquiring assets that generate income and add to your net worth. Shift your mindset from spending to investing in assets.

Want Help?

Check out my free financial planner for tools and guidance on tracking your finances, investing, and more. Take the first step towards a better financial future.

What I’m Thinking About

I took a TikTok marketing course this week. Time and time again, they discussed the importance of making your product visually appealing so it could perform well on TikTok.

One example is the cleaning product, The Pink Stuff. Their product is visually appealing on TikTok for two reasons. First, they use bright pink packaging. And second, they use before and after cleaning videos, which hook people into watching an entire video to see the end result.

With this in mind, how can you make your current product(s) or future product(s) more visually appealing so you can take advantage of TikTok marketing?

DISCLAIMER: Please be aware that the information presented in this email is for educational purposes only and should not be considered as personalized financial advice. The creator of this email is not a licensed financial advisor and any decisions made based on this information are at your own risk. It’s important to consult with a qualified financial professional before making any financial decisions, as this information does not consider individual investment goals, risk preferences, or financial situations. Please remember that past performance does not guarantee future results, and all investments involve risk, including the potential loss of your initial investment.


Chris Thornham 80/20 Financial Planner
Take Control Of Your Finances

Reduce financial stress, reach financial freedom, and achieve financial goals like buying a home, paying off debt, and investing for retirement.

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