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Penny · Money & Wealth Mindset

The Automatic Millionaire

by David Bach

Three key ideas

  1. Pay yourself first, but only an amount that fits your income and obligations.
  2. Set transfers to match when money arrives and when bills are due.
  3. Look at small recurring costs in total and choose them on purpose, without dropping every pleasure.

The five 2-minute lessons

  1. 1.Pay yourself first, within reason
  2. 2.Automate, but check the calendar
  3. 3.Notice what repeats
  4. 4.Time, compounding, and no promises
  5. 5.Check the system, keep the habit

From the comic

My savings transfer runs right on time. The goal it was for changed months ago.

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