Mike Michalowicz's Blog

The Insight: Name it, claim it

Money without a mission is money without meaning. When all your income sits in a single bank account, it feels like a giant, mysterious stew—every dollar swimming around with no clear role. And just like a stew, it’s impossible to tell which chunk is meant for what.

That’s why one of the simplest, most powerful money habits is also one of the easiest to ignore: give your money jobs by separating it into multiple, uniquely named bank accounts.

This isn’t just bookkeeping. It’s brain hacking. When you label money, you give it purpose. You stop confusing survival expenses with indulgences. You stop mixing your financial goals with your daily gas and groceries. And you stop that slippery slope of “I’ll just dip in here once” because your accounts themselves call you out.

The Perspective: One pot blurs priorities

Here’s the trap most people fall into: they set up one checking account and let everything pile in. Paychecks, side hustle money, refunds, the occasional Venmo repayment, it all dumps into the same pot. Then bills, groceries, dinners out, and vacations all come out of that same pot too.

It feels simple. One account, one debit card, one balance to check. But that so-called “simplicity” is a mirage.

Instead of giving you clarity, one big pot blurs your priorities. You see a lump sum and think, “I’ve got plenty left this month.” But what you really have is a grocery budget colliding with your rent money, wrestling with the funds you swore you’d save for a new car, duking it out with the dream trip you’ve been planning for years.

The result? Stress. Overspending. Guilt. And the sneaky erosion of your financial goals.

On the other hand, multiple accounts act like little spotlights. Each one shines on what actually matters. You can see, in real time, what’s available for your needs, your wants, your dreams, and your emergencies.

Suddenly, you’re not wondering if you “should” spend on takeout this weekend—you just look at your “Wants” account. If it’s funded, go for it guilt-free. If it’s empty, you know the answer (and you know why).

That’s not restriction. That’s clarity.

The Action: Open Your Four Core Accounts

Let’s make this practical. Here’s your starting lineup:

Needs account
This is the foundation. Rent or mortgage, groceries, gas, insurance—anything you literally need to function goes here. This account should be rock solid, the first one you fund every single week.

Wants account
Fun money, guilt-free. Eating out, subscriptions, hobbies, little splurges. This is where joy lives. By naming it, you protect yourself from overspending and from self-denial.

Dreams account
Big goals deserve their own spotlight. That vacation, that home renovation, that once-in-a-lifetime experience it belongs here. Every dollar you add builds anticipation and momentum.

Emergencies account
Life throws curveballs. Cars break down. Kids get sick. Roofs leak. Instead of scrambling, you’ll have a stash ready to go. This account is your safety net and your stress reliever.

How to Get Started

Open the accounts today. Yes, it takes a few minutes online or a quick trip to your bank. Do it now before the momentum fades.

Fund them weekly. Set up automatic transfers the day you get paid. Even if you’re only putting $10 in each, start building the habit.

Adjust as you grow. Over time, your percentages will shift. You may add more accounts (like “Kids’ College” or “Charitable Giving”). Start small, expand when you’re ready.

The beauty of this system isn’t just the math—it’s the mindset shift. When you assign every dollar to a job, you’re no longer guessing. You’re directing. You’re leading. And your money starts working for you, not against you.

Why This Works

Behavioral finance research shows that labeling money changes how we use it. It’s called “mental accounting.” The same $20 bill feels different when it’s “gas money” than when it’s “vacation money.” That little psychological trick is the foundation of your financial independence.

This isn’t about cutting lattes or obsessing over spreadsheets. It’s about aligning your money with your values, so you can enjoy life and plan for the future without the constant anxiety of “Am I doing this right?”

With multiple accounts, the answer is right there in black and white.

Your Turn

Here’s your one action for the week: open four accounts and name them Needs, Wants, Dreams, and Emergencies. Start funneling your money into them now.

By this time next week, you’ll already feel a shift. By this time next month, you’ll feel calmer and more in control. By this time next year, you’ll be thanking yourself for the financial freedom you created with one simple habit.

Please share this with a friend and encourage them to subscribe (for free).

I’m wishing you a lifetime of financial independence.
See you next week with another 1-1-1!

-Mike

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The post The Money Habit Weekly | More Money, More Bank Accounts appeared first on Mike Michalowicz.

Can you relate?

One of the biggest mistakes I made when I started my business was spending the day on the soul-sucking, repetitive stuff.  I was invoicing clients, scheduling social media posts, answering the same questions, and sending emails for hours before I could dive into my big, audacious goals..

That’s not the work of a visionary. That’s the work of a machine. 

And that machine might just be you.

You became an entrepreneur to have an impact. To implement the creative, strategic ideas that are unique to you. When you’re stuck doing what feels like robot work, you’re not just wasting time; you’re blocking your genius. You’re using your unique human elements to do a job a machine could handle. It’s like asking a superhero to mop the floor. It’s a waste of your most valuable resource: You. (And let’s face it, you could have a lot more time freedom in the long run if you could offload some of those blah tasks.)

What’s the secret to getting more time?

Thanks to AI, you don’t have to do what can be automated anymore. AI is your new employee. It works 24/7, doesn’t need a salary, and it’s happy to do all the crap you hate. This isn’t about replacing you. It’s about liberating you so you can do the work that actually matters.

Your assignment this week: 

Let’s make a deal. Right now, I want you to identify just one single repetitive task you do daily or weekly. Just one. Don’t overthink it. Is it creating content calendars? Drafting client proposals? Managing customer support tickets? Whatever it is, that task is your target.

Now, I want you to ask AI to fix it. Just start the conversation. This simple act of delegating one tiny task to a machine can be the domino that frees up hours, days, even weeks of your life.

Do This: Pick one repetitive task. Then, ask AI to fix it.

Not That: Don’t keep doing the repetitive stuff that’s blocking you from your best stuff.

Go AI: Your personal automation consultant

To get started, I’ve created a prompt that you can copy and paste directly into your favorite AI tool, like ChatGPT or Gemini. This isn’t just a generic command; it’s a way to start a guided conversation that will help you uncover automation opportunities and then actually implement them.

Copy and paste this prompt:

As your personal business automation consultant, I will ask you one question at a time to uncover opportunities for automation in your business. Based on your answers, I will then guide you through the process of automating these tasks or, where possible, automate them for you. To begin, please tell me about your business. What industry are you in? What is your primary product or service? And what is the biggest pain point you currently face?

The bigger picture: Your blueprint for freedom

This isn’t just about a new tech tool. It’s about a new mindset. It’s about designing a business that supports your genius instead of burying it under a mountain of mundane tasks. It’s a core concept I’ve been shouting from the rooftops for years.

In The Pumpkin Plan, I hammered on the importance of saying no to the low-value stuff. In Chapter 6, pages 90-95, you’ll learn how to identify the “weeds”; the clients and tasks that suck your time and energy, and get rid of them. Automating is the ultimate “no” to that kind of work.

Clockwork, is all about making your business run itself. The key is identifying your Queen Bee Role: the one vital function that makes your business fly. In Chapter 11, pages 150-155, I explain how you can document and automate everything else so you can protect that vital function.

And if you don’t know where to start, Fix This Next is your roadmap. The whole book is a framework for identifying the single most important thing to fix in your business right now. In Chapter 8, pages 120-125, we talk about moving from stability to true efficiency. Automation is the engine that drives that shift.

The Final Thought: Be wise, overlook the mundane

Look, you’re already a superhero. Don’t waste your powers mopping the floor. As William James said, “The art of being wise is the art of knowing what to overlook.” It’s time to overlook the junk that’s holding you back.

Now, go get out there and do your best stuff. The world needs it.

-Mike

Links to the books:

The Money Habit: https://bookshop.org/a/4474/9781774586433

Get Different: https://bookshop.org/a/4474/9780593330630

Fix This Next: https://bookshop.org/a/4474/9780593084410

Profit First: https://bookshop.org/a/4474/9780735214149

Pumpkin Plan: https://bookshop.org/a/4474/9781591844884

All In: https://bookshop.org/a/4474/9780593544501

Clockwork: https://bookshop.org/a/4474/9780593538173

Money Bunnies: https://bookshop.org/a/4474/9780578929989

The post You’re Not a Robot – But AI Is appeared first on Mike Michalowicz.

When I was starting out as an entrepreneur, I thought success came from laboring longer than everyone else. Nights, weekends, holidays…if I wasn’t grinding, I felt guilty. And yet, there were plenty of times when I would put in hours of work and have nothing truly transformative to show for it.

Here’s the truth I learned the hard way: big effort rarely delivers equally big breakthroughs.

Sometimes, brilliance comes from brainstorms that are shorter than a coffee break. 

I can point to specific ideas, marketing strategies, product pivots, even book titles, that changed everything for me. And almost all of them came from short bursts of focused, playful brainstorming. I didn’t need a weeklong retreat or a 10-hour planning session. I just needed a few minutes of open space where I gave myself permission to try out “bad” ideas until a good one popped up.

Shameless plug alert:  That’s exactly the premise of my new TV show, 4 Minute Money Maker. Because 4 minutes can truly change your business.

 

Truth Bomb: Hard work ≠ success

We’ve been sold the lie that more work = more success. It doesn’t. The truth? More work usually just means more exhaustion. Success comes from the right spark at the right time. And that spark shows up when you step back, not when you chain yourself to the desk. Four minutes of thinking beats forty hours of grinding, every time.

 

The Spark: Wild ideas + AI

The best ideas often start as the “dumbest” ones,  so don’t censor yourself. Let the wild, impractical, even laughable ideas flow. That’s the raw material for true innovation. Write it all down.

 

And if you work alone, let AI be your brainstorming buddy. It is like jet fuel for the process. Prompt it for five ridiculous marketing ideas. You may toss them all, but one could spark something brilliant.

The combination of grace (permission to explore), space (a time box of 4 minutes), and tools (like AI) can give you more leverage than any amount of endless labor.

 

The Real Work: 4 minutes to breakthrough

It’s your moment. Find 4 minutes to try this simple exercise this week:

Set a timer for 4 minutes. No more, no less.Pick one challenge in your business. It could be “How do I attract more customers?” or “How do I make my next launch stand out?”Write down every idea that comes to mind. No judgment. No editing. Just let them pour out, even the silly ones.Circle one idea that excites you. Don’t overthink it. Chase the one that makes you grin or raises your heartbeat. That’s your spark.

That’s it. Four minutes. But you’ll be shocked at what can come out of such a short burst.

 

Bottom Line: Rethink your labor

This Labor Day your job is to tap into a different kind of labor, the kind that comes from quick, courageous bursts of creativity. You risk nothing in 4 minutes…except maybe stumbling into your next breakthrough.

You’ve got this. I mean it.

—Mike

 

PS My new TV show, 4 Minute Money Maker, debuts September 2nd. Every week, I’ll give struggling businesses four minutes of money-making ideas. Want to see how much you can do with just a little space, grace, and creativity? Tune in. And while you wait, grab a copy of Get Different to learn how to make marketing ideas that truly stand out.

 

The post The 4-Minute Shift That Will Transform Your Business appeared first on Mike Michalowicz.

I want to tell you about the worst moment of my entrepreneurial life. No, it wasn’t a business failing. It was sitting in my car, staring at a stack of unopened envelopes in the passenger seat. There were bills from the credit card company, letters from the bank, and a few from friends I owed money to. The stack felt impossibly heavy. I had built a successful business, but I had made some serious mistakes along the way, and the debt had quietly ballooned to over $300,000.

I felt a crippling sense of shame. I had failed. And because of that shame, I did the worst possible thing: I ignored it. I hid the bills. I stopped answering my phone. I was completely paralyzed by the problem, and every day, that mountain of debt grew a little taller.

This is what I’ve come to understand: debt isn’t just a financial problem. It’s an emotional one. And you can’t solve it with logic alone. You have to address the emotions first. My progress, and my eventual freedom, came not from a single heroic act, but from a series of consistent, small, almost laughably simple steps.

The Insight: The paralysis of shame and the power of incremental steps

When you’re deep in debt, the shame can feel like a weight holding you down. You feel like a failure, and that feeling tells you to hide. You avoid phone calls, you delete emails, and you throw bills in a drawer. The logical part of your brain knows this is a bad idea, but the emotional part is running the show. It says, “Don’t look at it, and it can’t hurt you.”

But: what you don’t look at will absolutely hurt you.

The key to escaping this paralysis is to ignore the massive mountain of debt for a moment and focus on a single pebble. Just one. Don’t worry about the $300,000 I owed. My first step wasn’t to tackle the biggest loan. It was to open just one of those envelopes. That’s it. That one tiny act of bravery gave me a flicker of momentum. And that flicker turned into a flame.

Progress, I learned, isn’t about making one giant leap. It’s about building momentum through a series of consistent, incremental steps. Like an athlete training for a marathon, you don’t start with 26.2 miles; you start with a single jog around the block. That jog builds confidence, which builds consistency, which eventually gets you to the finish line.

The Perspective: How to gamify debt repayment

The emotional paralysis I felt was real, but so was the high-interest debt that was keeping me trapped. To break free, I had to combine emotion and logic.

Here’s the powerful perspective that changed my life: every single debt payment, no matter how small, gives you a dopamine boost. That little hit of “I did it!” is a powerful motivator. You’ve got to use that feeling. It’s like a game where you get a point for every debt you eliminate. The problem is that if you only focus on paying off the smallest debt (the “snowball” method), you might be ignoring a high-interest debt that is essentially a financial anchor, pulling you down.

That’s why a logical, well-structured approach is so critical. High-interest debt is not your friend. It’s the kind of debt that can keep you in a financial prison for life. You have to take its cost and consequences seriously. You need a system that not only gets you motivated but also gets you out of debt as quickly and efficiently as possible.

The Action: The two-part strategy that will set you free

My debt-eradication plan was a simple, two-step process that took years, but it worked.

Part 1: The quick wins

Before I did anything else, I paid off a few small debts. This wasn’t a logical move; it was an emotional one. I had a few small, annoying bills – a few hundred dollars here and there. I paid them off immediately. It felt incredible. I took those little “wins,” and they gave me the momentum and confidence I needed to face the bigger challenges. That’s the first step: get a few quick wins to prove to yourself that you can do this.

Part 2: The ranking system.

Once I had some momentum, I made a list of all my remaining debts. I didn’t care about the total number; I was focused on the list itself. Then I ranked them using two criteria:

Cost: What was the interest rate on this debt? This was the most important financial factor. The higher the rate, the more it was costing me every single day.Consequence: What was the potential consequence of not paying this debt? This was the human factor. I had a debt to a very dear friend. While the interest rate was low, the potential consequence of damaging that friendship was devastating. That made it a high-consequence debt.

I put all my debts in order, prioritizing the high-interest ones and the high-consequence ones. The debt to my friend went to the top of the list, right next to a high-interest credit card. I called my friend and had a tough, honest conversation, telling him I was creating a plan to pay him back. This act of communication was more important than the payment itself. I then aggressively tackled the high-interest credit card, making it my primary focus.

Over the next decade, I followed this two-part strategy. It wasn’t fast. It wasn’t easy. But it worked. I paid off that $300,000, and I’ve been debt-free ever since. Like building wealth, getting out of debt is a process, not a moment.

And, it’s a habit.

The first step is to face the truth. 

The second is to get a quick win. 

The third is to create a plan. 

You can do this. 

The feeling of freedom on the other side is worth every single step.

You’ve got this. I mean it. 

-Mike

PS – The Money Habit hits the shelves in January. You can preorder this roadmap to financial freedom here. 

In the meantime, there’s The Money Habit email, where I send shorter versions of blogs like this and strategies to support you. You can sign up here. I promise, NO spam!

 

The post The Money Habit Weekly: How I Eliminated $300K in Debt (and What You Can Learn) appeared first on Mike Michalowicz.

I’m going to share a financial “secret” that was a hard-earned lesson for me, and I’ll bet it’s something you’ve never thought about either.

When I started my first business, I felt like a financial rock star just because I had a savings account. Every time I made a deposit, I’d see that number get bigger and feel a little bit safer. It was my rainy-day fund, my emergency money, my security blanket. I was doing the “right” thing, just like my parents told me to.

But I was wrong. I was not a financial rock star. I was a well-intentioned, hard-working person who was playing a game I couldn’t win. I was making deposits, but I was actually losing money.

The Insight: The silent money eater

There’s a sneaky little monster out there called inflation. You can’t see it, but it’s always hungry. It’s that invisible force that makes a gallon of gas or a carton of eggs cost more every single year.

While you’re feeling good about that number in your savings account, inflation is quietly munching away at your money’s buying power. A traditional savings account gives you a pathetic interest rate, like maybe 0.1% or 0.2%. I mean, seriously, what’s that? It’s basically an IOU from the bank saying, “Thanks for the free loan.”

Meanwhile, inflation, over time, chews up 2% or 3% of your money’s value every single year. You’re earning less than you’re losing.

Think of it like this: If you put $1,000 in a traditional savings account today, in ten years, that money might still be “worth” $1,000 on paper. But it’ll only be able to buy what $800 or $750 could buy today. The number is the same, but its power is gone. You’re not saving; you’re just slowly bleeding value. It’s like pouring money into a glass with a slow, invisible leak.

The Perspective: The bank’s secret playbook

For a long time, I thought a savings account was the pinnacle of financial responsibility. It’s the “safe” place to put your money. But it’s only safe for the bank.

Here’s the dirty little secret: The bank takes your money, which it pays you almost nothing for, and then it turns around and loans that money out for much, much higher interest. That difference is their profit. They want you to believe a savings account is your best option because it’s their best option.

The interest a bank gives you on a savings account is always, without exception, the absolute lowest return you can get. It’s a penalty for being too cautious. And once you see that, you realize you have to break up with your savings account, at least for any money you’re not going to need in the next six months.

This isn’t your fault. We were all taught to save and be responsible. But the old rules of saving just don’t work anymore. You’re a smart entrepreneur, a savvy professional. It’s time to play by the new rules.

The Action: Your simple, “do-able” escape plan

I know this might sound scary. You’ve worked hard for your money, and the last thing you want is to lose it. So, let’s make this simple and easy. We’re not going to gamble with your life savings; we’re just going to make your money work harder than a savings account does.

Step 1: Your emergency fund stays

First, keep a few months’ worth of living expenses in that savings account. This is your true emergency fund. The money you might need tomorrow, next week, or next month. This is the only money that should sit there.

Step 2: Put the rest to work

For the rest of your savings (the money you don’t need for an emergency), let’s put it to work. You’ve got options, all of which are very low-risk compared to the money-losing trap of a savings account.

If you’re a little cautious: Start with Certificates of Deposit (CDs). A CD is just a promise from a bank. You give them a certain amount of money for a set period (like 1 year), and they give you a much higher interest rate than a savings account. A great strategy is to “ladder” your CDs. Say you have $5,000 to invest. You can put $1,000 into a 6-month CD, $1,000 in a 1-year CD, $1,000 in an 18-month CD, etc. That way, money is always becoming available, but all of it is earning more than it would in a savings account.If you’re okay with a bit more stability: Consider bond index funds. Bonds are basically loans to a company or a government. They are generally much more stable than stocks. A bond index fund is just a big basket of these bonds, which diversifies your risk and gives you a much better yield than a savings account. You can easily set this up through an investment company.If you’re ready for long-term growth (10+ years): Consider a broad-based stock index fund. An index fund is a type of investment that holds a little bit of many different stocks, like a basket of all the biggest companies in the market. The S&P 500 index fund is a perfect example. You’re not picking individual stocks, you’re investing in the overall growth of the economy. Historically, this has proven to be the most powerful way to grow your money over the long haul.

Your journey to financial independence doesn’t start with a million-dollar idea. It starts with one small, smart decision. The first is to stop letting your money die a slow death. Let’s make it work for you, starting today.

You’ve got this!

-Mike

PS. You can preorder The Money Habit today! Click here.

 

The post Your Savings Account Might Be Keeping You Poor appeared first on Mike Michalowicz.

You get the email. Or the call. Or maybe your boss pulls you aside for a quick chat. “We’re really happy with your work. We’re giving you a raise.”

It’s one of the best feelings in the world. You’ve earned it. Your first thought is to call your spouse, your parents, or your best friend to share the good news. Your second thought, if you’re anything like the old me, is to do something really, really dumb with the money.

My first big raise? I celebrated by trading in my perfectly good car for a new one with a sunroof. I bought what I wanted when I felt like it, and I felt like a king. 

For about six months, I was still living paycheck to paycheck, just on a grander scale. 

It’s what I call “lifestyle inflation,” and it’s a trap so many of us fall into. We work harder, earn more, and then just… spend more.

The Insight: The raise trap

The moment a raise hits your bank account, your brain starts making a to-do list for that extra cash. A better apartment. New furniture. A vacation. We instantly adjust to our new income level, and before we know it, we’re living paycheck to paycheck all over again. The cycle is a sneaky beast. It doesn’t feel like a bad habit; it feels like progress.

You feel like you’ve been “promoted” to a new class of consumer. And suddenly, your old phone, your old car, and your old habits feel inadequate. So you upgrade everything, and poof! That beautiful raise you worked so hard for is gone, leaving you with the same old financial worries, just with a nicer backdrop.

Don’t get me wrong, celebrating your success is important. But when the celebration becomes your new normal, you lose the golden opportunity that a raise truly represents.

The Perspective: A golden opportunity

A raise isn’t just more money. It’s a moment of financial leverage. It’s a clean slate. It’s a chance to break free from the cycle for good. Think of it less as a reason to upgrade your life and more as a superpower you’ve just been handed to secure your future.

This is your chance to change the game. Instead of letting your expenses creep up to meet your new income, you’re going to put some distance between them. You’re going to use this moment of financial momentum to create a buffer, a barrier, a cushion—whatever you want to call it—between your spending habits and your financial goals.

The Action: The “wedge”

So, how do you do this? With a technique so simple, it’s brilliant. I call it the “wedge.”

When you get a raise, you commit to driving a wedge between your old budget and your new one. You’re going to take that extra money and immediately split it in half.

Half of your raise goes to your future. This is your non-negotiable. You commit this half to savings or investments. Set it up on auto-pilot to be transferred to a separate account the moment your paycheck hits. If your employer offers a 401(k), this is the easiest place to start. Every extra dollar you put in your 401(k) is a dollar you will not miss. You’ve already lived without it!The other half of your raise goes to your fun. This is where you can celebrate. Use this half to upgrade your lifestyle. Go on that nice dinner. Buy that new gadget. You’ve earned it. But only this half.

Let’s say you get a $400-a-month raise. You commit $200 of that straight to your 401(k) or a high-yield savings account. The other $200 is your spending money. This is the simple trick that lets you feel good about celebrating your raise while also building a foundation for financial independence. You get the fun, but you also get the freedom.

Don’t let your raise be a trap. Let it be a tool. It’s a golden opportunity to start building a future where you never have to worry about money again. Now that’s a real upgrade.

I’m wishing you a lifetime of financial independence. 

– Mike, author of The Money Habit

Preorder The Money Habit HERE!

The post Your Raise Is a Trap: A Simple Trick to Finally Break the Paycheck-to-Paycheck Cycle appeared first on Mike Michalowicz.

Let’s talk about a financial strategy that sounds like a smart move, but can sneakily work against you: debt consolidation.

On the surface, it seems like a win. You roll multiple debts into one. Your monthly payment drops. Maybe the interest rate looks a little friendlier. Who wouldn’t feel relieved?

But debt consolidation isn’t a magic wand. 

In fact, it can be the financial equivalent of sweeping dirt under a rug, tidier on the outside, but messier underneath.

Let’s break it down.

The hidden cost of “relief”

The main draw of consolidation is a lower monthly payment. That feels good. Less financial pressure today. But what most people miss is that these lower payments are often stretched out over a much longer period.

That means more interest. A lot more.

So yes, your credit card bills might stop screaming at you. But now you’re quietly bleeding money in interest over the long haul.

Think of it like trading a bee sting for a slow IV drip of espresso – sounds great until your heart’s racing and your wallet’s empty.

If you don’t change your habit, you’ll repeat the problem.

Here’s where things get risky.

Debt isn’t just about the numbers; it’s about your behavior. If your habits that created the debt in the first place don’t change, consolidation just resets the cycle.

I’ve seen it play out over and over: someone consolidates their debt, feels like they’re back on track, and then racks up new debt because the original spending patterns never shifted.

Forget about shame – this is about strategy. Financial freedom comes not from avoiding mistakes, but from understanding them and building better systems going forward.

Before you consolidate, ask yourself, “What got me here?”

Then take action that goes beyond just restructuring your debt:

Audit your expenses. Ruthlessly. Are there subscriptions you don’t use? Impulse purchases adding up? Habits that nibble at your wallet daily?
Automate debt paydown. Set up automatic payments that go directly toward your highest-interest debt. Even if it’s a small amount, consistency wins.
Use AI to pressure-test your plan. These days, there are free or low-cost AI tools that can analyze your financial plan and show you exactly how much more (or less) you’ll pay with consolidation. Get clarity before you commit.

A better kind of relief

The real relief doesn’t come from rearranging the furniture but it does come from building a new foundation. Debt consolidation can be a smart tool, but only when paired with deep awareness and better money habits. Otherwise, it’s just a Band-Aid on a leaky pipe.

If you want financial independence (not just financial survival), start with the habits, not the hacks.

Final thought

Here’s what I remind myself often: Easy today can mean expensive tomorrow. If you’re feeling tempted by a quick-fix solution, that’s your signal to slow down and look deeper.

Your money habits matter more than your money tools.

You’ve got this.

-Mike

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The post Debt Consolidation Isn’t Always the Answer. Here’s Why appeared first on Mike Michalowicz.

Let’s get one thing straight: Financial freedom isn’t for other people. It’s for you, too.

It isn’t some elusive summit you climb your whole life just to plant your flag on top and call it a day. It’s not a finish line. It’s not reserved for the ultra-wealthy or those born into money. And it’s not something you “someday” stumble into with a lucky break.

Financial independence is a process. A practice. A habit.

In fact, it’s a lot like brushing your teeth: you don’t do it once and say, “Well, that’s done.” You show up every day with small actions that, over time, produce extraordinary results. The same goes for your money.

Degrees, not destinations

Most people treat financial independence like a destination you drive toward at 100 miles an hour, only to hit the brakes once you get there. But that mindset leads to burnout, frustration, and often, giving up before you even really begin.

Here’s a better way to think about it: Financial independence moves in degrees.

Every time you make a smart money move, however small, you level up. Every time you choose to save a little more, cut a tiny expense, automate a payment, or invest in your future self, you’ve taken another degree of control over your financial life.

And those degrees? They add up faster than you think.

Start where you are and use what you have.

You don’t need to have your dream salary, a portfolio full of real estate, or a spreadsheet that rivals NASA’s flight plans. You only need this: the willingness to tweak one money habit today in favor of your long-term freedom.

Think about it: could you skip the $8 delivery fee once a week and move that cash into a high-yield savings account instead? Could you start rounding up your debit card purchases and automatically save the difference? Could you make an extra $50 payment toward debt this month?

It might seem small, but these micro-movements matter. And they compound.

The most financially free people you know didn’t wake up rich. They woke up disciplined. They started with small, intentional choices. Then they did it again. And again.

You can too.

Here’s your action step this week:

Pick one daily money habit. Just one. Maybe it’s your morning coffee, your weekly subscription, your after-work Target run. Whatever it is, adjust it slightly in favor of financial independence.

You don’t need to overhaul your entire budget or sacrifice all your joy. Just move one dial.

Then repeat that next week. And the next. Before you know it, you’ve created an upward spiral of financial momentum. That’s the real path to freedom.d

Freedom isn’t later, it’s now.

There’s a powerful moment when you realize that financial independence isn’t waiting for you at age 65. It’s happening right now, in the habits you’re building, the choices you’re making, and the mindset you’re developing.

It’s the peace of knowing you’re on a path. It’s the confidence that you’re building a buffer. It’s the joy of spending intentionally, not impulsively. And it’s the clarity of knowing your future self is already grateful for the decision you just made today.

This isn’t wishful thinking. This is real, practical, doable stuff. You’ve got everything you need to start.

So go. Take one small step toward your financial independence today, and know that you’re already on the path.

To your financial freedom,
– Mike
Author of The Money Habit

You can preorder The Money Habit HERE.

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The post The Real Way to Stop Worrying About Money (and Start Building Wealth) appeared first on Mike Michalowicz.

The move: Create quarterly goals.

Entrepreneurs are idea machines. We wake up with five new business plans before coffee, two pivots by lunch, and a whole new product line brainstormed during the evening dog walk. That creativity? It’s your superpower.

But it can also be your downfall.

Because while you’re juggling 17 “top priorities,” guess what’s actually getting done?

Nothing. Not so efficient. Not driving revenue.

That’s why I want you to try something different. Something deceptively simple, wildly effective, and guaranteed to increase your productivity and peace of mind: Pick one most important thing. For you. For your business. For every person on your team.

Why just one?

Let me be real with you: Clarity is the jet fuel of progress. Progress = revenue.

When everyone knows exactly what they’re supposed to be focused on, no second-guessing, no mental ping-pong, they move faster. They make better decisions. They finish things.

The magic of one priority is that it forces everything else into the background. All the nice-to-haves, the half-baked initiatives, the distractions disguised as opportunities… they’re silenced. And what’s left is progress that matters.

You want your business to grow? Set one priority.

You want your team to feel empowered and deliver results? Set one priority for each of them.

You want to get out of your own way and stop feeling like a hamster on an espresso binge? You know what to do.

Set a 90-day goal

Here’s your action step: Give yourself and every person on your team one clear, specific, measurable priority to achieve in the next 90 days. Not a vague ambition. Not a to-do list. Not a “drive more engagement” kind of fluff goal. A real one.

For example:

For your ops manager: “Reduce client onboarding time from 14 to 10 days by September 30.”For your marketing assistant: “Launch the new email nurture sequence by August 15.”For yourself: “Finalize new pricing structure and roll out to all clients by Q3 close.”

The goal should:

Be attainable (a stretch, but not a moonshot).Have a clear deadline.Tie directly to the bigger vision of your company.

Why 90 days?

Because 90 days is the sweet spot. It’s long enough to make real progress, but short enough to stay focused. Any longer, and you lose momentum. Any shorter, and you’re scrambling.

And here’s the kicker: Everyone loves finishing things. When your team actually achieves their 90-day goals, morale skyrockets. Trust deepens. Confidence grows.

Progress becomes contagious.

Don’t let the list grow

Now, I know what you’re thinking: “But Mike, my team has lots of responsibilities! How can I ask them to pick just one goal?”

Simple.

You’re not asking them to stop doing their jobs. You’re asking them to align their effort toward what will make the biggest difference.

You’re not asking them to only do that one thing. You’re asking them to own it. To champion it. To make sure it gets done.

All the other stuff? It’ll still happen. But instead of splitting their attention a dozen ways, they’ll have a north star.

And if you let them create a laundry list of goals? You’re creating a guarantee of diluted effort, missed milestones, and overwhelm that turns into inaction.

Eliminate the noise

Want to take this to the next level?

Eliminate distractions that threaten the one thing. Remove recurring meetings that don’t move the needle. Cut deadweight projects. Say no to anything that doesn’t help achieve that 90-day priority.

This is how you move fast without burning out. This is how you win.

Because when you do less and do it well, you create momentum. And momentum in business is everything.

Need proof? Hear it from my team!

You don’t have to take my word for it. The data backs this up. Teams that work toward a single, shared goal consistently outperform those trying to juggle too many priorities. It’s true in sports, in military operations, and absolutely in small business. 

For instance: Our Fix This Next project manager had this to say about her quarterly goal: One of my quarterly goals was to enhance FTN engagement by highlighting specific FTN Advisors. This was a very fulfilling goal, especially since I was relatively new. It allowed me to get to know many certified FTN individuals and their businesses. I was able to take the time to explore their webpages and learn about them as individuals, rather than just seeing them on a spreadsheet or platform. This goal provided an opportunity to highlight these people and also gave me time to research their businesses, which I hadn’t had the chance to do before.

And yes. Now we have more FTN Advisors!

And if you want to dive deeper:

Fix This Next (Chapter 7) helps you identify the right priority based on your business’s core needs. Clockwork (Chapter 6) shows you how to build accountability and structure around that priority. Profit First (Chapter 12) reveals how rhythm and consistency create the stability you need to actually follow through. The Pumpkin Plan (Chapter 9) reinforces the art of pruning everything that doesn’t help you grow your best, most profitable clients.

These tools work because they all reinforce one thing: Focus.

What’s your one thing?

You don’t have to change everything this week.

But you can change your results by changing your focus.

Start here:

Write down your ONE most important goal for the next 90 days.Ask each team member to do the same.Meet as a team. Share. Align. Support each other.Track weekly progress. Adjust as needed. Celebrate when it’s done.

Then do it again.

Every 90 days. New goal. New clarity. New progress.

It’s not magic. It’s a strategy. And it works.

Final thought

“Productivity is never an accident. It is always the result of a commitment to excellence, intelligent planning, and focused effort.” – Paul J. Meyer

Ditch the clutter. Pick the priority. And make your next 90 days your most productive yet.

To your progress!

-Mike

 

 

The post Increase Revenue With This One Small Step appeared first on Mike Michalowicz.

There’s this weird thing entrepreneurs do.

I know it because I’ve done it too.

When your marketing isn’t working, you double down on it. You don’t stop to question it. You don’t change course. You just press harder, pour more money into it, and keep your fingers crossed that this time it’ll work.

Not a strategy. If your marketing isn’t landing, doing more of it won’t help. It’ll just fail more expensively.

Instead of doing more of what’s not working, do something new. Test a new pond.

That’s what I did recently. And I want to walk you through exactly how it happened and how it might be the thing that opens a floodgate for your business, too.

I thought I knew my channels

For years, I thought I knew where my people hung out. Email list? Check. Facebook? Yep. Instagram? Obviously. LinkedIn? Of course.

But I started to notice the numbers were softening, especially on Facebook. Engagement was waning. I was spending more time and energy to get fewer results. I’m not saying those platforms weren’t useful anymore… but the water was getting a little too crowded. And I wasn’t standing out like I used to.

So I took my own advice (from Get Different, Chapter 2 to be specific), and started exploring. I gave myself one task:

Try one new channel. One. Not because it’s trendy, not because a guru told me to, but because I was genuinely curious.

Enter: Substack

I’d heard whispers about Substack. I thought it was just a place for journalists or long-winded writers. Not entrepreneurs.

But I gave it a shot.

And what I find? A massive community of thoughtful people having real conversations about business, money, creativity, and personal growth without the noise and the algorithmic nonsense. No dance trends. No 13-second videos. Just content that digs deep.

I showed up. I shared a few insights. I commented on other posts. I subscribed to a handful of writers who made me think. And slowly, but surely, I saw something magical start to happen…

I found my people.

Entrepreneurs like me. People are hungry to build something that matters. People who weren’t chasing clicks were chasing clarity.

It was a better pond. And all I had to do was be brave enough to dip a toe in.

Don’t assume

We assume that to get new clients, we need to shout louder. Post more. Spend more.

Nope.

We need to connect more. We need to listen more. And most of all, we need to be where our ideal clients are, even if it’s somewhere we haven’t explored yet.

Sometimes that means swapping out a platform that’s gone stale. Sometimes it means trying something so left field that it feels silly. And sometimes it means rediscovering the basics and showing up like a real human and having real conversations.

What does this look like?

Don’t blow up your whole marketing plan. It’s not about chasing every shiny object. It’s about one simple move:

Pick a platform or channel you’ve never used before (or haven’t used seriously), and give it a fair, focused test.

Here’s how to do that:

Set your intention
Are you there to connect? To experiment? To learn? Don’t just show up to sell. People can smell that from a mile away. Just be curious. Be generous. Be real. Dedicate a small, fixed amount of time
Try it for one hour a week for four weeks. That’s it. Don’t binge. Just show up consistently. Comment, read, post, engage. Track what you notice
Forget vanity metrics. Look for the quality of conversation. Look for aha moments. Are people asking smart questions? Are they the kind of folks you love working with? Adjust as you go
Not every test will strike gold. That’s okay. But if you find a glimmer? Lean into it.

Need Ideas? Try These

Substack: If you love writing and deep thinking.Reddit: For niche communities and honest feedback.Podcasts: Start your own or guest on others;  ideal if you’ve got a voice and a story.YouTube shorts or reels: If you’re willing to show your face and talk with heart.Private Slack or Discord groups: Under-the-radar gems with hyper-engaged folks.Local meetups or events: Yep, the offline world still works,  and it’s often easier to stand out.

The goal isn’t to become a pro on every platform. It’s to find one that surprises you. One that energizes you. One that feels like it has your people.

The Real Win? Rediscovering Your Voice

Testing a new channel isn’t just about growth. It’s about clarity.

It pulls you out of your rut. It forces you to get creative again. It puts you in touch with the reason you started this business in the first place: To help people. To create value. To make something different.

And that kind of energy? It’s contagious.

Final thought

When I showed up on Substack, I didn’t have a plan. I had a hunch. I had curiosity. I had the courage to try something new.

And that’s what I want for you.

Don’t just do more of what’s not working.

Try something new, even if it’s weird. Even if it’s awkward. Especially if it’s awkward.

Because that’s where the breakthroughs are.

You’ve got this!

-Mike

PS. Want to go deeper?
Check out:

The Pumpkin Plan, Chapter 4, pp. 55–65 – how to identify and nurture your ideal clients.
Get Different, Chapter 2, pp. 25–35 – how to stand out with creative, bold marketing.
Fix This Next, Chapter 6, pp. 90–100 – on solving the sales vacuum by exploring new paths.

The post What’s Your Handle? Try New Channels and Scale Your Business appeared first on Mike Michalowicz.