Improve Your Finances by 3495% | Atomic Habits by James Clear

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If you save a little money now, you are still not a millionaire. If you splurge now, you still didn’t go broke. But keep doing this over time, and you’ll see some real changes.

Almost half of all New Year’s resolutions are about personal finances. Only 16% of all New Year’s resolutions succeed, which means that many promises that we make ourselves about both finances and other important topics, are broken. That begs the question – Why is this so difficult? Why do people continue making promises to themselves that they cannot keep? And, perhaps most importantly, is there a way out of this infinite loop of disappointment? The answer to these questions lies within our habits.

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Top 5 takeaways of Atomic Habits by James Clear:

00:00 Intro
01:02 1. The Aggregation of Marginal Gains
04:25 2. Systems VS Goals
07:22 3. The 4-Step Model of Habits
13:09 4. Rooting Your Habits in the Deepest Layers
14:56 5. 80% Exploit, 20% Explore

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My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.

[disbadn]

im 14 and already planning out how i could become financially independent in the future

[Ace-cvxd]

this isnt just financial advise tips. this entire video basically can be applied to anything in life and as long as you desire to be a better version of yourself, this video is absolute pure gold.

[relize]

Two more advices to all of this from someone who started transformation kinda based on the book a couple of years ago:
1. Do not tend to think change is easy. Admit that its a challenge.
2. Try not to rush and be patient/learn to be patient. This is key!

[danielkover]

It's funny that you mention quitting smoking by looking at your identity differently. I can personally vouch for this because that's how I quit smoking.

Back in 2004 (April 14th, to be exact), I noticed that all the quit-smoking aids (gum, patches, lozenges, etc) all have a 3-month goal, where you scale down your use as you progress. At the end of those 3 months, according to the program, you get to say, "I'm a non-smoker, " provided you were successful. I realized that on Day 1, I'm ALREADY a non-smoker! All I have to do then is decide each day to continue my streak so that I can keep saying that.

I still used the nicotine gum and some Wrigley's spearmint, but that paradigm shift in my thinking changed everything. All the other times I tried to quit, but when my thinking changed, I succeeded. In 2024, I'll be 20 years nicotine-free. It really works! 👍

[tollevkvendbo]

I'm 18, saving 1500$/70% of my paycheck every month. Living Home and driving a small cheap diesel van. If I'm om schedule I'm buying a house w/ rental before i turn 20 years old. 1000$ tax free every month will pay off the electricity, internet and mortgage interest... Making the house basically free, adding on to the value going up.

[MikeLiteros]

Funny how the compounding snowball always rolls uphill in the finance videos 😂

[Chuck_Nrris]

Atomic habit is one of the best self improvement books out there. Should read at least once a year.

[WilliamJonesChess]

Top Moments

5:34 Do not set a goal to have $20k by end of year. Ask: what habits do I need to ensure I have a huge amount by end of year?

7:00 purpose of a goal is to win the game. But a system is to keep you playing. [ If you want to keep playing]

16:00 80% same 20% explore. Keep what works, but also change.

[roopsai]

Last year I checked how much I spent for cold drinks and burgers it blasting 3600$ . So I cut those expenses and invested that money in different beverages companies. So people keep drinking beverages and give me profit 😎.

[lucienenhanced]

James Clear graduated from my high school and he actually came and spoke there a few years ago about his success and the like, pretty cool guy

[yasinnabi]

starting a business is very difficult and impossible if you cannot create value in the market. once you create value and be able to solve problems, That is your success... it doesn't matter what business you run, you will succeed. a fellow creator :)) subbed

[vlusii]

Took the advice, turned my identity into an athlete for a moment and just did an abs workout. Thanks, some really helpful and motivating ideas!

[WinningFinancially]

Just the very first slide deserves a like 👍

[AVRLVGN]

I'm 9 years old right now and I'm already thinking about retirement 😊

[StickmanA]

Resolutions are wishes and wishes rarely come true

[ryanb.]

Thank you! This is the best summary of this book I’ve seen! Busted my gut at 13:59

[DeathrashWhiplash]

I did in fact make a cup of coffee and watch an episode of the Swedish Investor, where do I collect my $20, 000?

[aerialexplorer]

Re the habits/identity thing, the way I see myself is that I define what habits I am going to adopt, but I don't see those habits as part of my identity. Instead I see my identity as someone who keeps to the habits I've decided upon. It works.

[jonathanmunz]

8:35. This guy has 'Play Hearthstone' under his desired habits, respect.

[respirariqueza]

Great synthesis skills my dear Swedish friend! I'm loving your channel! Thanks so much!