Dr. Noah St. John says impulse spending is the habit that kills financial success. He paid off his mortgage 27 years early by pausing before purchases to check if they matched his goals.
Hey, Dr. Noah, what's one habit that holds people back from financial success?
You know, it's one habit that holds people back from financial success is impulse spending. That means a lot of people are spending their money on things that they think are going to make them happy in the short term, but they forget about their long-term financial goals. So before you make any purchase, just take a breath, take a moment, and really see if that investment is going to help you with your long-term financial goals. A lot of people ask me, how did I pay off the mortgage on this house 27 years early? By doing this exact thing. That means not doing impulse spending, but doing long-term financial planning and then smart investing. That's the smartest way to do it.
Thank you very much, Dr. Noah St. John.
