The second big problem, says Meadows, is how we tend to approach saving money. The focus shouldn't be on "how to slash your grocery bill or how to reduce your power bill," he says. Rather, the focus should be, "why am I saving money? People can figure out the basics in terms of money-saving strategies and frugal tips, but what they're usually lacking is some sort of vision or dream to work towards."
You have to have a specific goal. Or, as Meadows calls it, a "why": "Your 'why' is going to drive any behavioral change. You're not going to make a whole bunch of changes unless you have something burning in your consciousness to work towards."
The goal could be early retirement, a nice vacation or a down payment on a home. And the more specific the goal, the better.
"Once you have something to work towards, then you can put strategies and systems in place to get you there," says Meadows.
As for what those strategies and systems may look like, check out Meadows' two favorites, both of which helped him reach the $100,000 mark.
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