There are tons of articles and tools you can find online that will help you to manage or save money, create and stick to a budget, and generally get your financial house in order.

Today though, I want to tell you about a simple way to start creating true wealth, that just about everyone can start doing right now.

Do these two things to get started creating wealth.

1. Make your bed every morning.

2. Save $50 per month.

That’s it.

Is there more? Yes, there are many ways to augment or enhance wealth building, and we can talk about those later, but for now, start doing these two things tomorrow morning.

Why do these two simple things work? These two actions are a simple exercise in changing your habits and focusing on new goals.

Action number one: Making your bed. I learned this from a powerful message given by Admiral William H. McRaven of the United Stated Navy. Why is making my bed important? First of all, it will start your day immediately with an accomplishment. It doesn’t matter if your day goes off the rails and is bad from start to finish, at least you will have accomplished one thing, and have a nice made up bed to climb into that evening. Plus, it will build in you the desire to accomplish more things that day. Also, it will remind you that you have a bed to sleep in, and a roof over your head. Some are not as fortunate. Right there, in the couple of minutes it took you to make the bed, you made two changes in your thoughts. first, you are building a new sound and solid habit of making the bed, (accomplishment), and you expressing thankfulness for actually having a bed to make (gratitude).          

Your mindset is the single greatest determining factor in your success or failure. Instead of focusing on what you do not have yet, put your focus on all that you do have, practicing gratitude each day. This, like making your bed, is a habit that you build, and both of the actions I’m talking about today are ways to build better habits that will position you for success. As you consciously practice gratitude, and consciously make the effort to make your bed, you’ll find yourself examining your own thoughts more, since now your actions are no longer governed by impulse or old habits, but by this new purpose of changing the way you think and act.

Just thinking about your own thoughts is a game changer, and more than most people do. I am not a psychologist or counselor, just someone who has a degree from the school of life. I can tell you that years of doing this myself has been one of the biggest transforming factors in my life.

So make that bed, and then tell yourself “Okay, I have accomplished one thing early in my day, something most people don’t do by the way, and I have expressed gratitude that I have a bed to make”. This will help you think about being appreciative.

Now, action two. Put $50 a month in savings.

Most people I talk to can find $50 in their monthly budget. The reason I start with $50 is simple. It is little enough that most people can spare it if they really look for it, but it is big enough to feel like an actual investment. Saving $5 per month just isn’t enough to engage your brain, and get excited about this new habit. $50 a month deposited faithfully for 25 years in a savings account yielding 2% interest equals $19,684, according to the savings calculator at Moneychimp.com

That’s not a lot you might say, but if I were to write you a check for that today, would you want it? Of course! But it’s not just about the $19k. This humble $50 dollars a month, deposited faithfully every month, will wake up your wealth creator inside. Remember, the account you opened is your “wealth creator” savings account.  Maybe you have a 401k at work, or a 403b, or a Roth IRA, or a traditional IRA. . . Okay great, those are important. But is it a wealth creator savings account?

I challenge you to reach out to your local bank or credit union, and open a new savings account called your wealth creator savings account. You may not actually name it that with the bank (although I would not object if you did!) but you call it that. If you’re married, you and your spouse call it that, and start depositing $50 per month in that account. You both agree and do it. If you are single or not otherwise attached, agree with your dog, cat, anyone you can find, that this is your wealth creator savings account.

What about the 2% interest? You might say “that’s pathetic”. You’re right, and you probably won’t even get that much in today’s environment. It doesn’t matter, do it anyway, and remember, you are not limited to $50 per month, but that has to be your agreed amount to start, and you are not going to drop below that amount. Also, this is not to be touched. It is to create wealth, so you can’t touch it for that cruise you want to take, or for a new laptop, or whatever the tempting thing may be.

Let’s talk about what is happening through these two simple habits. For starters, you begin to think about things differently. You are being proactive, not reactive. This is just the start. Before long, you will strengthen your muscles in budgeting, finance, investing, and debt reduction when you start thinking about things through the lens of gratitude, accomplishment and creating wealth. Our habits control us. Let your body and mind be controlled by good habits that you intentionally establish, that will set you up for long term growth and prosperity. Just see how fast your whole mindset shifts when you practice these simple habits.

You will become a person of accomplishment, you’ll be known as someone who is grateful and compassionate, you’ll be able to lend, not borrow, all because you made your bed, and saved fifty bucks.

If you’re doing these things and it is working for you, I’d love to hear your success story. You can email me at hardy@fergusoninsuranceteam.com.

You can do this!