written by
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.
If you like this week’s deep dive, my full-length video, and article go even deeper.
Note: Before making any financial decisions, please see the disclaimer at the end of this email.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Reinvent yourself with the Success Engine Newsletter—a weekly newsletter packed with proven strategies and practical ideas for personal development, career growth, and financial success.
Here’s what you can expect when you sign up:
CHRIS THORNHAM
1% of all profits generated by ChrisThornham.com are donated to St. Jude Children’s Research Hospital.
Reduce financial stress, reach financial freedom, and achieve financial goals like buying a home, paying off debt, and investing for retirement.
Ten Thousand Dollar Giveaway Sweepstakes Entry Contract
By entering this Ten Thousand Dollar Giveaway Sweepstakes (the “Sweepstakes”), you agree to the following terms and conditions:
1. Eligibility: This Sweepstakes is open only to legal residents of the United States, Canada, the UK, and Australia, who are 18 years of age or older at the time of entry. Employees, contractors, directors, and officers of ChrisThornham.com LLC, its affiliates, subsidiaries, advertising, promotion, and fulfillment agencies, and their immediate family members and persons living in their same households, are not eligible to participate.
2. How to Enter: To enter, visit https://christhornham.com/ten-thousand-dollar-giveaway, and complete the entry form with a valid email address. No purchase is necessary. Only one entry per person is permitted. Automated, robotic, or programmed entries are not allowed, and any such entries will be void.
3. Winner Selection: The winner will be selected in a random drawing from among all eligible entries received. The odds of winning depend on the number of eligible entries received. The winner will be notified by email and will have 30 days to respond and claim the prize.
4. Prize: The prize for this Sweepstakes is $10,000 USD. No substitution or transfer of the prize is permitted, and no other alternative will be offered. All taxes, fees, and other expenses related to the prize are the sole responsibility of the winner. The prize will only be awarded if at least 10,000 eligible entries are received during the Sweepstakes period. If less than 10,000 eligible entries are received, ChrisThornham.com LLC reserves the right to cancel the Sweepstakes, in which case no prize will be awarded. ChrisThornham.com LLC may, at its discretion, extend the Sweepstakes period in order to reach the minimum number of eligible entries required to award the prize.
5. General Conditions: By entering this Sweepstakes, you agree to be bound by these official rules and the decisions of ChrisThornham.com LLC, which are final and binding in all respects. ChrisThorrnham.com LLC reserves the right to disqualify any individual who tampers with the entry process, violates these official rules, or acts in a disruptive or unsportsmanlike manner. The use of any automated or programmed entry method or any other means to obtain multiple entries is prohibited and will result in disqualification.
6. Release and Limitations of Liability: By participating in this Sweepstakes, you agree to release and hold harmless ChrisThornham.com LLC, its affiliates, subsidiaries, advertising, promotion, and fulfillment agencies, and their respective directors, officers, employees, and agents from any and all liability, injury, loss, or damage of any kind arising from or in connection with your participation in the Sweepstakes, the awarding, receipt, use, or misuse of any prize, or any other matter related to the Sweepstakes. ChrisThornham.com LLC is not responsible for any incorrect or inaccurate information, technical failures, or any other errors or problems that may occur in connection with the Sweepstakes, including any injury or damage to your computer or mobile device.
7. Governing Law: This Sweepstakes is governed by the laws of California, without regard to its conflict of law provisions.
8. Privacy Policy: Information collected from entrants is subject to ChrisThornham.com LLC’s privacy policy, which can be found at https://christhornham.com/privacy.
9. ChrisThornham.com LLC reserves the right to modify, suspend, or terminate the Sweepstakes, in whole or in part, for any reason, including but not limited to any error, technical problem, fraud, or any other cause beyond the reasonable control of the company that affects the administration, security, fairness, or proper conduct of the Sweepstakes. In the event of any such modification, suspension, or termination, the company may, in its sole discretion, choose to extend or shorten the Sweepstakes period by up to one year from the original end date of May 4, 2023.
By entering this Sweepstakes, you acknowledge that you have read and understood these official rules and agree to be bound by them. If you do not agree to these terms, do not enter the Sweepstakes.