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17 ridiculously simple money habits, according to a former investment banker

Nischa Shah cracks the personal finance code.

Credit: Nischa (YouTube)

Nischa Shah is our financial freedom guru.

Small actions lead to significant results. Take Nischa Shah, for example, who left her six-figure investment banking job and built a million-dollar content business instead. Her viral YouTube video, “17 Habits That Made Me Rich,” has racked up nearly 3 million views, in which she divulges the practical daily habits that gradually transformed her finances.


- YouTube www.youtube.com

“The key to getting rich isn’t life at the extreme, like waking up at 4 a.m.,” Shah explains at the video’s start. “It’s about forming micro-habits: tiny habits that you follow consistently. These small habits compound over time and not only have a big impact on your finances, but also on your physical, mental, and emotional well-being.”

Shah's approach is refreshing. Her success stems from manageable, everyday practices that anyone can adopt, rather than radical lifestyle changes or complex strategies. She recommends smart, consistent habits that seem minuscule in the moment, but add up over time. Read on for Shah’s top tips:

17 game-changing financial habits, according to Nischa Shah

1. Create more than you consume

Shah highlights research from Thomas Corley’s Rich Habits: The Daily Success Habits of Wealthy Individuals, which shows that 67% of wealthy people watch less than an hour of TV daily, while 77% of those struggling financially watch significantly more.

Another interesting stat from Corley: only 6% of the wealthy watch reality television, compared to 78% of the poor.


wealth, finances, advice, money, millionaire Wealthy couple strolls away from helicopter.Photo credit: Canva

“The wealthy are not avoiding watching TV because they have some superior human discipline or willpower,” he writes. “They just don’t think about watching much TV because they are engaged in some other habitual daily behavior — reading.”

The takeaway here is that active creation trumps passive consumption. Whether it’s launching a YouTube channel, writing stories, or learning to code through interactive apps, spending even 15 minutes daily on creative activities builds valuable skills and experience.

2. Create distance from negative people

Motivational speaker Jim Rohn claims that we are “the average of the five people we spend the most time with,” meaning that we are greatly influenced by those around us.


- YouTube www.youtube.com

Shah recommends keeping your distance from negative people who gossip, complain constantly, or bring toxic energy to the table, as these influences can subtly derail your process. Instead, surround yourself with like-minded people who discuss building wealth and solving meaningful problems.

3. Create an 'I can do this' file

Over the past two years, Shah has developed a powerful habit: creating a personal “motivation archive.” Every time she achieves something significant, she writes everything down in painstaking detail, from the nerves that paralyze her beforehand to the admiration she receives afterwards.

She keeps a dedicated tab in Notion (this could work equally well in any other digital workspace) called “I can do this,” where she documents her achievements, milestones, and moments when she pushed through fear. By recording these experiences, she’s created a personal evidence file that reminds her of her own resilience whenever self-doubt creeps in.

4. Practice gratitude

Shah swears by gratitude journaling for boosting motivation and happiness. Though initially skeptical, she changed her mind after learning from Sophia Godkin that appreciation is fundamental to happiness. Every night at 8 p.m., Shah opens the Day One app to record the day’s highlights and things she’s grateful for, often adding a photo to capture the moment.


via GIPHY

Research shows that daily gratitude leads to meaningful reductions in anxiety and depression symptoms, improved sleep quality, enhanced mood and happiness, and increased life satisfaction. In fact, daily gratitude practices even benefit physical health, with studies showing increased cardiovascular health, improved longevity, an immune system boost, and stress reduction.

5. Automate saving and investing

In this segment, Shah advocates for the “pay yourself first” principle, which automatically stashes money in savings and investments before you can spend it. She automates transfers to saving and investment accounts on payday to ensure that her money grows steadily without requiring willpower or manual effort. This efficient system builds wealth while also naturally curbing impulse purchases.

Investopedia describes the “pay yourself first” method as simply building a retirement account, creating an emergency fund, or saving for other long-term goals, such as buying a house.

6. Get specific

When setting financial goals, Shah recommends being ruthlessly specific. Rather than vaguely promising to “save more,” she suggests concrete targets with straightforward math. For instance, “I’ll save $30,000 by the end of 2027 by setting aside $1,250 each month.” This precision transforms abstract financial goals into actionable items.


7. Audit spending into three buckets

Shah breaks down expenses into three practical buckets:

  • Fundamentals (housing, food, utilities)
  • Fun (dining out, travel, entertainment)
  • Future (investments, savings)

She reframes budgeting not as a restriction but as a tool for clarity: a reasonable budget is like a financial dashboard that shows exactly where your money goes. This practice can be quite liberating! Shah shares her secret—a free spending tracker that helps identify patterns and pinpoint areas of unnecessary spending.

8. Learn something new about money weekly

Financial literacy is an ongoing journey. Your relationship with money began at a young age, and these early experiences shaped everything—from whether you feel confident investing to the jitters you get when you check your bank balance. Luckily, you can rewire these patterns with persistent learning. Master a new investing app, negotiate your salary with confidence, and read up on tax strategies. Dedicate time each week to learning about investing, personal finance, and entrepreneurship. Even 20 minutes a week can lead to significant knowledge over time.


writing, finances, money, spending, millionaire Learning about finances is a life-long journey you should enjoy. Photo credit: Canva

9. Stop caring about other people’s opinions

Shah stresses that other people’s judgments about your financial choices can derail your progress. Worrying too much about what others think is a common problem, but Shah offers a surprisingly practical tip. When someone’s opinion starts to drag you down, ask yourself: Does this person’s point of view align with where you’re headed? If the answer is no, then redirect that energy back into your own financial goals. This simple filter has allowed her to take significant risks and put herself out there more often, without getting paralyzed by irrelevant criticism.

10. Understand and avoid a ‘yes’ trap

“The Yes Trap is a subtle yet powerful force that pulls us towards overcommitment,” writes Robert Puff. “It’s that nagging feeling that we should always say ‘yes’ to requests, invitations, and opportunities, even when our plates are already overflowing.”

Puff explains that this habit stems from people-pleasing instincts, the fear of missing out, and discomfort with saying "no."


Shah wholeheartedly agrees, calling out the yes trap for what it is: a reflexive tendency to agree to every request, even when you’re already stretched thin. Sure, saying yes feels like the easier option in the moment—less friction—but it quietly leads to burnout, resentment, and the erosion of your agency. How can one avoid this trap? Get clear on your goals and what you’re trying to accomplish; when your destination is sharp and specific, it becomes easier to recognize distractions and politely decline them.

11. Invest in yourself regularly

An overarching theme in Shah's video is the idea of investing in yourself—not just with money, but also with time and attention.

The best investment you can make is backing yourself and dedicating yourself to your own skills, knowledge, and capabilities. Shah recommends starting with a platform like Brilliant, which breaks down intimidating subjects like computer science, statistics, and algorithms into bite-sized interactive lessons that you can tackle on your phone. It’s a tool that makes learning feel like a breeze, rather than homework.


via GIPHY

12. Build multiple income streams

Millionaires don’t rely on a single paycheck; they stack income streams. Welcome to diversification, which means spreading your money across a mix of investments to smooth out your returns. The idea is that different types of investments perform differently over time, so it’s critical to invest across the three main asset classes (a.k.a. asset classes): cash, fixed income, and equities.

For Shah, that looks like money pulled from brand deals, affiliate commissions, YouTube ads, investments, and selling her own products. This way, if one stream dries up, the others are there to keep you afloat. Don’t know where to start? She advises beginning with one stream that matches what you’re already good at or genuinely curious about, then slowly adding new streams.

13. Simplify decision-making

It’s time to stop making the same decisions over and over. The path to financial freedom is paved with discipline: set clear rules for spending, saving, and investing, then let those guidelines do the heavy lifting.

Shah seeks to reduce decision fatigue by optimizing her life in small ways. Instead of agonizing over what to wear each morning, she maintains a slight rotation of work clothes. Apply this principle to any area of your life where you’re burning mental energy on autopilot tasks.

14. Network with intent and add value

Shah points to Chris Donnelly, the founder of Verb Brands. This digital marketing agency works with luxury brands like Jimmy Choo and Creed Fragrances. Within his first year, Donnelly pulled in $10 million, and largely credits the "who factor."


“He went through a phase where he was reaching out to 50 or more people a month, or asking other people to introduce him to someone,” Shah explains, recounting a recent conversation with Donnelly. “He stressed the importance of the Who Factor in everything that we do.”

15. Take action before feeling ready

Making mistakes is how you learn, and waiting around until you suddenly feel “ready” is a lost cause. Most of the time, that moment of clarity never really arrives. Successful people start before they’re ready and figure it out as they go. Trust your gut and take that first step, even if you’re winging it.


via GIPHY

16. Have open money conversations

While 66% of Americans believe that open conversations about money are the key to financial freedom, over six in 10 Americans (62%) don’t talk about money, according to Empower. In addition, the financial site finds that people would rather discuss politics (43%) and death (32%) than their own finances (24%). Seemingly, there’s no one to open up to: 75% of respondents say they don’t discuss finances with their friends, family (63%), or even their spouse/partner (46%).

Shah encourages people to talk about money: break the taboo and share what’s working for you and what isn’t. The point is to normalize the conversation so it stops feeling like an off-limits topic.

17. Apply the 1% progress rule

There’s no need to overhaul your entire financial life; just aim to get better by 1% each month. Save a little more, spend a little less, earn a little extra. While none of this feels dramatic in the moment, these tiny improvements add up to real financial momentum.


Your financial transformation starts now

Shah's journey from corporate burnout to millionaire content creator proves that financial freedom is real, tangible, and within your reach. Which habit will you start with today?

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This surprising map reveals the real value of $100 in each state

Your purchasing power can swing by nearly 25 percent from state to state.

Image by Tax Foundation.

Map represents the value of 100 dollars.

As the cost of living in large cities continues to rise due to inflation, tariffs and other economic factors, more and more people are realizing that the value of a dollar in the United States is a very relative concept. For decades, cost of living indices have sought to address and benchmark the inconsistencies in what money will buy, but they are often so specific as to prevent a holistic picture or the ability to "browse" the data based on geographic location.

Each year, the Tax Foundation addresses many of these shortcomings using the most recent Bureau of Economic Analysis data to provide a familiar map of the United States overlaid with the relative value of what $100 is "worth" in each state. In recent years, they've further updated their data so that you can break down the value of your money across every single metro area in the United States. It's an incredibly valuable tool with so many people considering, or having already migrated from states like California to Florida, Texas and other states with friendly state taxes rates and more affordable housing options.

The map quantifies and presents the cost of living by geography in a brilliantly simple way. For instance, if you're looking for a beach lifestyle but don't want to pay California prices, try Florida, which is about as close to "average" — in terms of purchasing power, anyway — as any state in the Union. If you happen to earn, or luck, your way into Silicon Valley tax brackets, head to Hawaii, D.C., or New York. You'll burn through your money in no time. And in some of those places like Hawaii, there are quality of life measurements that often exceed raw purchasing power.


So, where does your dollar go the furthest in 2025? The financial planning site GoBanking.com compiled its own list of cash purchasing power across each state and found that in California, you get the least bang for your buck, only $87.42 in real purchasing power for every $100 of cash. The average person in California makes $96,344, one of the higher income levels in the country. However, just living in California on average costs residents a staggering $86,408, leaving the average person with little flexibility for long-term financial planning projects like retirement, saving for a new home or even buying a new car.

At the other end of the spectrum is Arkansas, the state where your dollar goes the furthest. In fact, that $100 bill burning a hole in your proverbial wallet is in fact worth more than its technical value, with a real value of $113.49. On top of that, the cost of living is only $37,067, less than half of that in California. Further, the average cost of a new home in Arkansas is $208,743, less than one-third of a new home in California. Not coincidentally, in 2023, Arkansas was the top destination for people moving to another state within the United States, followed by Texas.

value of $100 in each state, money, economy, inflation, tariffs, Arkansas, California, Florida, Texas A woman holds six $100 billsImage via Canva

How about Florida, which has received outsized attention in recent years for its overt efforts to draw residents from California and other states with higher costs of living? According to the most recent data, Florida is in fact much closer to California than Arkansas, coming in only in 40th place on the GoBanking rankings, with $100 in cash only being worth $96.55. However, the annual cost of living is still only slightly more than half of that in California, $53,505. And if you're looking to buy some real estate, the average home is valued at $404,924. That's still well outside the purchasing power of many Americans but with built-in advantages such as warm weather and the top-ranked state education system in America, it's obvious why so many people, especially those with families, are choosing Florida over California in recent years.

According to U.S. News and World Report's data analysis, California only has the nation's 23rd best education system and is ranked a paltry 37th overall in their state rankings. It's quite a contrast for a state that bills itself on the promise on opportunity, natural wonder and positive lifestyle options. And with 2024's wildfires, the constant threat of earthquakes and other factors, California clearly has challenges beyond economics if it wants to remain one of the more attractive states in the nation.

Of course, those numbers are always in flux. And political leaders in California have promised concrete reforms in order to address the state's high cost of living compared with the value of the its social and emergency services. If you want proof of how quickly things can change, look at a similar analysis of the value of $100 in each state from 2015:


- YouTube www.youtube.com

However, those negative statistical trends aside, California continues to have an incredible pull on our collective imagination. 423,194 Americans left their state for California according to the most recent data in 2023, placing it in third behind our previously mentioned top two states, Arkansas and Texas.

So, it's clear there are a number of factors that determine the best place of live in America. When it comes to raw purchasing power, you cannot beat Arkansas. But there's so much else to consider: public resources like education and healthcare, job opportunities (you probably won't make nearly as much in Arkansas as you might in California) and other factors such as proximity to family, friends and personal interests.

There's no doubt America is rapidly changing and that includes what people value the most when they decide where to live. In uncertain economic times, the face of America will likely change radically in the coming years, with the political, economic and social landscape shifting in meaningful ways.

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Study claims people with these 10 first names are most successful in business. Only 1 is female.

Can we please speak to the manager about this study?

Canva

A boss puts his feet on his desk.

Are you a Travis, a Taylor, or a Michael Scott? How important is a name, anyway? According to a recent study conducted by Resume.io, the answer is — very. They looked at thousands of LinkedIn profiles to find the most common names of people listing themselves in top business positions.

michael scott, boss, popular names, leadership Steve Carell winks as Michael Scott. Giphy NBC, Peacock

They claim, "For this study, we collected and analyzed 3,046 LinkedIn profiles from the U.S., specifically focusing on individuals in leadership roles. By examining the data in detail, we identified patterns in names commonly associated with executive and presidential positions within companies."

What do high positions mean to them? "Our methodology involved reviewing profiles with titles such as “CEO,” “COO,” “CTO,” “CFO,” “President,” “Vice President,” “Director,” and “Manager.” We also categorized the results by gender to evaluate disparities in leadership representation."

Taking the number one spot on the list? John. In fact, John dominates on many of the "leadership" positions, including CEO, COO, and CTO, technology leadership. (Somewhere John Stamos is doing a happy dance.) But hold on, Michaels are most commonly named as presidents, with Davids, our trusty managers.

John Stamos, popular names, celebrities, success John Stamos in Full House credits Giphy

And the only female name on this particular list is Kimberly, who is commonly listed as a director. In fact, the study notes, "Our research revealed that overall, only one-third (36%) of the profiles analyzed are women. Therefore, a staggering 64% of those in positions of power in America are men. This once again underlines the gender representation imbalance of corporate leadership."

According to Entrepreneur.com, they analyzed the study further and found that overall, the top most successful names in the business sector are: John, Michael, David (as mentioned). Followed by: Robert, Mark, Jennifer, Brian, Steve, Joseph, and Scott.

Again, worth noting that only one female name (Jennifer) makes the overall list. If one were to just list the women in the top spots, Jennifer is followed by: Lisa, Mary, Julie, Karen, Michelle, Kimberly, Emily, Kelly, and Diana.

woman, boss, leadership, popular names, business Female boss at the workplace . free-vectors.net

What seems to be clear is the names on these lists are the most common among the age group that would most likely be in a "boss-spot" currently. Right? In fact, let's take a look at the most popular (American) names in the 1970s, according to the SSA government website. Look at that! John, Michael, and David are all in the top 5. (Though so are Christopher and James, so what are THEY doing with their lives?)

For women, same thing. Jennifer, Kimberly, and Michelle are among the most popular.

Obviously, Reddit has some opinions. On the subreddit r/Leadership, Entrepreneur Magazine themselves posted the link to the study and many pointed out that correlation does not imply causation, as the saying goes. One snarks, "Go figure that the most common names for those over 40 match most common leader names. Did you also know that 100% of people who drink water end up dying??? True for breathing air too."

One top commenter added this interesting insight: "Freakonomics did a study on income and names — higher income households tend to follow certain naming trends while lower income households tend to follow different naming trends. The majority of those with major professional success tend to come from higher income households." They add, "Your name doesn't determine where you end up, but it usually is an indicator of where you begin."

Someone named Jeff points out how sad it is for all the Jeffs out there. "My name is Jeff. So I’m disqualified immediately."

Karen, popular names, successful, leadership A Karen peaks out from behind a tree. Giphy

And this Redditor nails it with: "So when Karen demands to see a manager, she’s asking to see herself most of the time?"

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Billionaire Mark Cuban reveals the secret to his success comes down to one simple habit

It's all about your mindset.

via Gage Skidmore/Wikimedia Commons

Mark Cuban speaking at a business roundtable hosted by the Kamala Harris for President campaign at Ocotillo in Phoenix, Arizona on October 19, 2024.

Knowledge is one of the only things people can’t take from you. You can lose your possessions, relationships, and money, but what’s between your ears is pretty much forever. The great thing is that we can continue learning new skills and information throughout our lives. However, some folks get stuck because they feel they don’t have the drive to learn new skills or the ability to develop them. A lot of the time, these barriers were built by our own design.

Billionaire Mark Cuban says the key to success is the ability to continue evolving and learning new skills. Cuban is an entrepreneur, investor, owner of the Dallas Mavericks, and star of ABC's Shark Tank. In a 2021 interview with Men's Health, he explained the secret to his success.

What's the secret to Mark Cuban’s success?

- YouTubewww.youtube.com

"When you’re first starting—you may or may not have a job, you don’t have any money, you’re [uncertain] about your career. What I learned early on is that if I put in the effort, I can learn almost anything. It may take me a long time, but by putting in the effort, I taught myself technology. I taught myself to program. It was time-consuming—painfully so—but that investment in myself has paid dividends for the rest of my life. And the fact that I recognized that learning was truly a skill, and that by continuing to learn to this day, I'm able to compete and keep up and get ahead of most people. Because the reality is most people don't put in the time to keep up and learn, and that's always given me a competitive advantage.”


The empowering thing about Cuban’s advice is that it can help just about anyone, regardless of their economic status. In most cases, people can teach themselves valuable skills that can help them get a job or go out on their own with very little, if any, money. The key is to believe in yourself enough that you can learn the skill and to persevere, no matter the setbacks.

The problem is that we often hold ourselves back by telling ourselves that we aren’t smart enough or don’t have the talent to learn certain skills. When, in reality, we have everything we need to learn something new, we’ve just talked ourselves out of it.

What is a growth mindset?

Carol Dweck, a researcher who focuses on human motivation, says that it all comes down to whether we have a fixed or growth mindset. Those who have a fixed mindset and have a hard time picking up new skills believe that their skill set cannot be improved. They may think they're good at athletics but aren’t great at math, so they stick to sports instead of teaching themselves how the stock market works.

new skill, labor, woman in hard hat, drill press, factoryA woman in a hard hat.via Canva/Photos

However, other people, such as Cuban, have a growth mindset and believe they can expand and change beyond how they see themselves in the current moment. “There’s another mindset in which these traits are not simply a hand you’re dealt and have to live with, always trying to convince yourself and others that you have a royal flush when you’re secretly worried it’s a pair of tens,” Dweck writes in Mindset: The New Psychology of Success. “The hand you’re dealt is just the starting point for development. This growth mindset is based on the belief that your basic qualities are things you can cultivate through your efforts.

Dweck believes that we can break into a growth mindset by harnessing the power of “not yet.” Let’s say you’ve always wanted to play guitar but told yourself that you’re “not musical,” so you haven’t picked up the instrument. The key is to say to yourself, “I’m not yet musical, but I have an eye on the goal of becoming so."

Adopting the “not yet” mentality helps you understand you're on a learning curve. "It gives you a glimpse into the future," Dweck said. Learn more about developing a growth mindset and achieving your goals in her TED Talk, “The Power of Believing That You Can Improve,” posted below:

- YouTubewww.youtube.com

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