The Least You Can Do
Black Coffee
About 15 years ago, I took a hard look at my diet. My normal diet wasn't terrible and I was still in pretty good shape, but I was starting to approach mid-life and I wondered if my diet was the best choice for my long-term health. I just wanted to be healthier in general. However, as I began to explore different diets, I became somewhat discouraged. Nearly all of them would involve a large shift in my lifestyle and complicated food prep for our family. I started to realize that I was facing a challenge, no matter which diet I chose. While making this decision, I did choose to make one small change right away. It was a simple choice. I decided to start drinking coffee black and forego the extra sugar. A small, easy step in the right direction.
As you may have guessed, the different complicated diets came and went. I tried two different kinds, but only one wholeheartedly if I'm being honest. I noticed positive results with both, but eventually the lifestyle of our family and lifelong habits re-emerged and took hold. These habits were already mostly healthy, so I wasn't too upset, but I still wasn't able to make the significant change I had imagined.
One thing did stick, though: black coffee. I still drink it today. It remains as the lone remnant from my efforts. As I think about it now, it’s funny. As it turns out it was the smallest step I took on that journey 15 years ago was the one that took hold for the long-term.
The smallest step
In my last article "Six Financial Resolutions" I outlined six ideas to consider in the new year. These ideas differ in complexity and effect, but they are all simple concepts that can significantly influence your long-term success. The only problem is they don't have any effect if they aren't acted upon. They are only effective if they are met with action and (hopefully) persistence. Otherwise, they die on the vine of good intentions.
This led me to wonder about the easiest way to begin each resolution. What is the smallest and easiest step to take towards enacting each resolution? After all, if you don't find them convincing or inspiring, they will exist only as good ideas. It only matters that you act, however small.
With that in mind, here are the six resolutions revisited, each with the smallest step you can take for each one. Even if you only act on one step, you are taking some sort of control and hopefully moving towards bigger ideas. This small step will either create the momentum needed to make change, or exist as a small beneficial step itself. Who knows, maybe you'll end up with a new good habit, however small it may be.
Resolution #6: Increase retirement savings by 1%.
Smallest step: Reach out to your Human Resources.
One phone call or visit to your HR department can get this resolution going. Your HR team is probably used to adjusting retirement savings. It's likely an easy task with a few clicks of the mouse. Put a reminder in your calendar to call them. It's easy for them and painless for you.
If your company or organization uses an online portal for you to manage your retirement savings, then make sure you can log on to your portal. Can't find the site or log-in? That's right, reach out to HR. (read more about the benefits of bumping your savings by 1%)
Resolution #5: Commit to additional debt payment amount.
Smallest step: Pick the debt that annoys you the most.
When paying off debt, there are two common ways to do so (read more here). Those ideas are great, but figuring out the best place to start can be confusing. After all, both of the most popular ideas involve tracking balances and comparing interest rates. Truthfully, these aren’t always the most compelling concepts for most people.
Despite not knowing where to start, I bet there's one debt payment that annoys you more than the others. It could be a car you regret buying. Maybe it's the store credit card you opened to get a promo rate and the interest has since backdated. No matter what it is, give the bank a call and ask them to increase your payment by $20 a month. You'll still be annoyed with the payment, but you'll be awfully surprised when the payments stop sooner than you expected.
Resolution #4: Commit to giving to charity.
Smallest step: Think about what speaks to you.
There are so many worthwhile charities out there. If you're only able to give $5 a month to charity, it may seem overwhelming to consider all the options. Further, you may wonder how far your $5 will go in making a difference.
Remember, small actions over time can have surprising results. Also, remember this is about you feeling the true purpose of money and helping understand it's place in life. You can achieve this with any amount.
If you're frozen with choice, just spend time thinking about the one issue that concerns you the most. Maybe you have a sick relative with an incurable disease. Perhaps world hunger or clean water makes you feel inspired to act. Once you find a purpose, finding a charity can be easy and trust me they will make donating even easier! The trick is finding something that matters the most to you.
Resolutions #3 and #2: Know where your money went. / Decide where you want your money to go.
Smallest step: download Monarch, YNAB, or something similar.
The next two steps are the most complex. Tracking all your expenses and creating a budget are two monumental, time-consuming tasks. Go ahead and give it a try yourself, but don't worry if you don't love doing it. Most people don't.
Instead consider downloading a money tracking and budgeting app like Monarch, YNAB, or something similar. If you use only one credit card for all your purchases, some of them have this feature. Many other tools are appearing all the time. Just find one and download it. These apps are really slick. Once you set up your profile, they make linking your accounts very easy. Once your accounts are linked, you'll be surprised how much work they can do for you. Just sit back and let them cook.
For a deeper dive into these ideas, read chapters 4 and 5 from my book “Principles of Prosperity”
Resolution #1: Spend less than you make.
Smallest step: try cash for a month
Wait, I said small step, right? Now I'm telling you to go to the ATM twice a week, carry cash around everywhere with all the bills and disgusting coins, clogging up queues while you wait for change, walk into gas stations to pay in advance for gas, all while missing out on credit cards miles and points? That's right. This step happens to be one that is extraordinarily simple, but definitely not small.
But first, how do I know if I'm already spending less than I make? It can be pretty simple. Do you notice your checking and savings accounts growing over time? Or rather, do you see your credit card balances growing instead? These symptoms are the surest signs of which side of this resolution you're on.
If you're someone who struggles with spending, this step is probably necessary. That is, it's necessary if you can't commit to some other form of expense tracking or budgeting. If you need inspiration, check out Dave Ramsey on YouTube or search for other consumer debt/spending experts. Many people ultimately find success in the simple (yet substantial) steps necessary to climb out of debt.
If all this sounds intimidating, just try cash for a month. You'll be surprised how it can open your eyes to where your money is going. Also, it will be painfully obvious when you run out.
The journey begins with one step (or whatever corny quote you choose)
When I switched to black coffee, I probably only saved myself about 100 calories a day. That's two Oreo cookies. How impressed would you be if I told you I kicked my two Oreos a day habit? Probably just as impressed as you are that I stopped taking sugar in my coffee. Small step indeed. Small results, right?
But considering humans can gain a pound with as little as 3,500 calories, maybe it wasn't such a small step. I did the math. Over 15 years, 100 calories a day could amount to over 156 lbs of weight gain. Now I hope I would have made some dramatic adjustments before I gained over 100 lbs, but science is science.
What if I added 15 minutes of walking a day? That's another 100 calories. Would you be impressed that I walked an extra 15 minutes a day? Hopefully not. Again, it's just a small step. A small step with big results over time.
Whatever big goal you choose, there are big ways to achieve any of them. Go ahead and create the big plan. Research the 2-3 year map that gets you there. Oh, and make sure to think about the benefits of your goal and imagine yourself achieving the big picture.
Now scale it back to today. Set the big plan aside for now and find what you can do today. Try your coffee black. Try the smallest step. It's the least you can do. It may also be the thing that brings you the most success.
