The simple wealth formula can be defined as Income -Expenses = The Gap. You use the gap to get ahead in your finances by paying off debt, saving more and investing more. Essentially, you want to increase The Gap as much as possible in order reach your goals faster.

But that's not all there is to the Wealth Formula. There are other silent but important factors needed in order to make it really work for you. You can call these factors, the secret sauce. Without focusing on these factors, reaching your goals is so much harder and even somewhat impossible.

The Five "Secret Sauce" Factors are:

Intrinsic Motivation
Habits
Beliefs
Consistency
Hard Work/Sacrifice

I've since even modified the Simple Wealth Formula to include what I think is a true driving force of how fast you can reach and maintain your goals to be: (Income - Expenses) * Habits = The Gap

Also, this episode is brought to you by the Free MasterClass that I’m holding Thursday, Jan 4th at 9pm EST. If you haven’t signed up yet, don’t worry, there’s still time, join here

Other related blog posts/links mentioned in this episode:

Reserve Your Seat at The Free LIVE MasterClass on January 4th at 9pm EST: How To Have Your Best Financial Year Yet

Sign up for the 2018 Q1 Launch To Financial Freedom Mastermind (enrollment is from January 4, 2018 to January 8, 2018)

Grab your seat at the Budget Boot Camp

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AB 313: Franchising Opportunity with Catherine Monson