Most people's money leaks out through recurring bills before they can save anything. The first step is identifying these leaks and plugging them with a system that tracks spending. Without this, your bucket empties no matter how much you earn.
One of the big things we've got to focus on doing when it comes to building an ultra-strong foundation is you've got to plug the financial leaks in your life. What I see with a lot of people is that they have what's called a leaky bucket syndrome. Now let me tell you what I mean by that. So you've got this big bucket over here, which is your life, and your bucket that you've got is your time where you're heading out to the workforce. And as you're running back up the beach, what tends to happen is that you've then got bills to pay, and step by step it's leaking out underneath. And by the time you get to this top bucket, you've almost got no money left. You've got no water left in the bucket and it's gonna be almost empty. So having a personal finance system is one of the first elements that you need in order to create a deep and strong foundation.
