Ramit Sethi explains why people obsessively check their banking apps even when earning $100K or $400K a year. The fix: automate your money so paychecks split automatically into investments, savings, and bills, leaving only what's left to spend. You stop checking. The anxiety stops.
It's interesting how addicted we are to checking this little financial app on our phone, even though it does nothing for us. Even among households earning between $100K and $150K a year, 1 in 3 still worry about paying their bills. I've spoken to people making $400,000 a year who still feel the exact same way. To get to the highest income levels, successful people have a system in place so their money is handled without ever having to open up a banking app. Your paycheck comes in, the system splits it automatically. Investments, savings, bills. The only money you really have to see is what's left, and that is yours to spend guilt-free. High earners are not spending time tracking the price of asparagus. They're also not relying on memory. This account has to get paid on the 14th of the month, but only in this case and not if the moon is blue. No, they set up the system and the money handles itself.
