A part of Dr. King’s “I Have a Dream” speech that resonates with me is early on when he uses debt as a metaphor for human rights. It’s beautiful how he articulates that the lack of freedom is a debt owed by the U.S. government to all Americans. I often equate money with freedom. However, I find the “Earn More!” / “Spend More!” debate comical. Do both! The forces amplify!

Do you even need a budget? I don’t budget. My wife and I evaluate expenses and then forecast. We do so for a bunch of reasons, including: a desire not to see expenses yo-yo with a restrictive budget, an opportunity to challenge every expense, and the ability to intentionally build the life we want.

I often meet people who keep way too little cash. They have great incomes - $100,000, $300,000, $500,000 a year, or more! However, they feel poor. Fortunately, many of them have significant investments! Having enough cash is like having good shocks. There are still bumps in the road. They just hurt less.

What are five great questions to ask yourself? 1) What do I want my money to accomplish? 2) How do I minimize lifetime taxes? 3) What if I’m injured? 4) How can education costs be reasonable? 5) Are my assets in the right location?

What are the hierarchy of expenses? Basic needs, required, autonomy, experience, and gift.

This article explores each in turn.

Want to build wealth? Here are 16 ideas!

Income: focus on superpowers, take calculated risks, catch free money, and be a lifelong learner.

Expenses: own long-term, cut hidden costs, bring lunch, and be intentional.

Protection: have an emergency fund, stay appropriately insured, shop around, and be kind.

Goals: plan well ahead, develop efficient systems, support others, and be ready.

How could you benefit from inertia?

There’s a powerful force called static friction. It takes more effort to get something moving than to keep it moving.

This concept applies to many things, including: scheduling Paid Time Off (PTO), contributing to retirement plans, saving raises, and the like!