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Start small from "summary" of The Automatic Millionaire by David Bach
The concept of starting small is crucial when it comes to building wealth. It can be overwhelming to think about saving large amounts of money, especially if you are just starting out. By starting small, you are able to gradually ease into the habit of saving and investing. One way to start small is to automate your savings. By setting up automatic transfers from your checking account to your savings or investment accounts, you are making it easier to save without even thinking about it. This way, you are consistently putting money aside without the temptation to spend it. Another way to start small is to increase your savings incrementally. Begin by saving just a small percentage of your income, and then gradually increase that percentage over time. This allows you to adjust to living on less while also growing your savings. Starting small also applies to investing. You don't need to have a large sum of money to start investing. There are plenty of investment options that allow you to start with a small amount of money. By starting small with your investments, you are able to learn and grow your portfolio over time. Additionally, starting small allows you to build confidence in your ability to save and invest. By setting achievable goals and reaching them, you are able to see the progress you are making towards financial freedom. This can motivate you to continue saving and investing for the long term.- Starting small is a practical and effective way to begin your journey towards financial security. By taking small steps and building on your successes, you can set yourself up for a solid financial future. It's all about taking that first step, no matter how small, and then continuing to move forward.
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