Morgan recommends checking your bank account balance every day, even for just ten seconds. Most financial problems come from not knowing how much you earn or spend, not from being bad with money. Daily awareness of your account is the simplest habit that actually sticks.
Chapters
So if you're in your 20s and you're just getting started, you haven't been a big saver, you just got your first job out of college, Morgan, what is your advice in terms of getting good with money?
A really simple tool that I came to this by realizing that most people who are making financial mistakes and have a problem with money, it's not because of a lack of intelligence, it's ignorance. And for most people, they actually have no idea how much money they're making or spending. And if you ask them like, how much money do you make per month and how much money do you spend per month overall? Most people in that situation either couldn't tell you or they would give you an answer that's false. And I think the very basic, such boring advice that goes the longest is check your bank account balance every single day. It takes— Every single day. Every day. Every day. It takes 10 seconds. It's not that hard. And just to give yourself some sense of how much money is coming in and how much is going out. Just be cognizant of it.
