Welcome to reThinkable - my weekly newsletter where I share actionable insights to build a wealthy healthy life.

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I came across a comment the other day…

"I have one reason that I'm broke… I spent all my money.”

Unfortunately, this person isn’t alone.

1 in 5 Americans DID NOT achieve ANY of their financial goals in 2023, and I bet that number is actually much worse in reality.

So today, I want to dive into a simple issue that’s plagued humans since day one: why do we have so much trouble sticking to our (financial) goals?

😮‍💨 Why We Fail Our Financial Goals

How many decisions did you make today? 10? 15? Try 35,000.

You're constantly deciding—should I check that notification, scratch my nose, grab some water, or use my credit card for those shoes?

To handle this volume of decisions every day, our brain takes shortcuts. We use prior knowledge and experiences to make unconscious decisions and actions.

For instance, if your neighbor's dog bit you last week, you would naturally (and unconsciously) be more skittish the next time you see it.

Our brain prefers the path of least resistance, which is why we constantly hyperbolically discount things. In simple terms, we overvalue short-term gains and undervalue future rewards.

For instance, you get an email from your favorite shoe store about a “FLASH SALE.”

Although you didn’t budget for new shoes, you think, "I worked hard, I deserve it.”

It’s easier to visualize the $100 shoes than it is to imagine the returns you’d get from investing that same $100.

So, you place the order.

The reason we have so much trouble achieving our (financial) goals is that our brain doesn’t want to handle the discomfort and challenges that come with making lasting changes. It’s just easier to stay the same.

🕹️ How To Trick Your Brain

Sticking to your financial goals isn’t about motivation—it’s about making the process easier and automatic for your brain to follow. Here are 3 strategies I always rely on:

1. If, Then

One of the things that throws off our motivation is feeling like we’ve failed.

Next time, use the “If, Then” Strategy. For instance:

• If I’m tempted to splurge on an impulse buy, then I’ll wait 24 hours before deciding.

• If I miss my savings target this month, then I’ll reduce my dining-out budget next month.

Linking specific actions to triggers will help you stick to your goals even when things don’t go as planned.

2. Join a Challenge

Challenges have been one of the most helpful tools for achieving my financial goals because they provide structure, a clear roadmap, and accountability. Instead of feeling overwhelmed, I had a step-by-step plan to follow, and knowing someone was there to keep me on track made all the difference.

That’s why I’m hosting the largest free 5-Day $1,000 Savings Challenge on October 1st.

We had thousands in our first Challenge, and everyone loved it and found it super helpful, so we’re doing it again. Whether you’re saving up for a dream vacation, a down payment on a house, or building an emergency fund…

PS: Space is limited, so if you click on the link and it says it’s no longer available, then unfortunately, we’ve already reached capacity.

3. Set Up Rituals

Achieving your financial goals requires consistent effort. Since we know our brain relies on taking shortcuts, rituals will help.

Rituals are a simple set of actions you repeat to the point where your brain doesn’t have to think about them.

Take something as simple as making a cup of tea and then going to a specific area of your house to budget. After a while, your brain doesn’t have to think about this—it’s automatic. But by brewing the tea and going to your designated spot, you’ve already started the process.

That small, easy step sets you on the path for the next one—reviewing your finances.

📝 reThinkable Quiz

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