Welcome to reThinkable – my weekly newsletter where I share actionable insights to build a wealthy healthy life.

Estimated read time: 3 minutes and 58 seconds

A bunch of you emailed me wondering where I’ve been the past 2 weeks…

I admit, it’s my fault for not giving y’all a heads-up in the last newsletter I sent.

But don’t worry, I haven’t been kidnapped — I’ve just been on vacation.

Here’s a pic of me chilling in a pool in Mindo, Ecuador.

I’m still technically on vacation, but I felt guilty for not letting y’all know ahead of time so I wanted to send out a newsletter this week.

Plus, there’s something that’s been on my mind that I wanted to talk about: willpower and building wealth.

P.S. I’ll be in Mexico for the rest of August, so this newsletter might be off until I return in September. Stay tuned because I have some new exciting stuff to share with you!

Willpower or Willweak?

Many people overestimate the strength of their willpower when it comes to building wealth. They think if they just try harder and have monk-like discipline, they’ll earn and save more money.

The problem is, relying on just willpower will not make you rich.

In psychology, it’s called decision fatigue. Basically, when you make a lot of decisions that require willpower, the strength of your willpower decreases over time.

In the morning, you might be able to make really great choices one after another, but later that night, when you get closer to 10,000 decisions, you might make mistakes that you later regret.

Willpower is a finite resource and should not be the only thing you rely on. Instead, focus on structuring the right environment and context.

Our surrounding, both literal and figurative, is the invisible hand that unconsciously shapes our behaviors, mindsets, and success. Research shows that over time, your willpower, motivation, talent, and effort will be overpowered by your environment.

For instance, most people find it rude to talk about money, but I’d argue that’s why most people aren’t wealthy.

A 2018 study found that the more you talk about finances, the higher the chance everyone does better financially because you discover mistakes to avoid, strategies to implement, and have an external sense of accountability.

Put yourself in an environment where doing things that will make you rich is the “normal” thing to do, because then you’ll automatically do them — you don’t have to rely on motivation, willpower, or be ultra-talented, because it’s just what everyone around you does.

How To Design Your Environment

Benjamin P. Hardy once said, “Although you are the product of your environment, that environment must be your proactive decision. Otherwise, you’re living reactively.”

So here are 3 ways to structure your environment so you can accelerate your results and maximize your odds of success, rather than hinder them.

The Close 10

The 10 closest people in your life have the most influence on you — whether that’s your partner, parents, co-workers, or friends, these are the people who will shape you for better or worse.

The next time you’re with them, pay attention to what y’all do and talk about.

Do they only talk about buying frivolous things and gossip, or do they talk about self-improvement and striving for more?

If it’s the former, I’m not saying to immediately give up on your friends; rather, see if you can steer the conversation in a direction that’s more aligned with your goals. If they refuse to change, then it might be time to reshape your environment.

Swap Your Consumption

Your environment isn’t just about people — it’s also the content you consume and the habits you’ve built. For example, social media can make you crave spending money.

So ask yourself, are you following social media accounts or subscribed to things that make you want to buy stuff you don’t need? Unfollow them.

Do you scroll through Amazon late at night and always impulse buy something? Block the website after 9 PM.

The goal here isn’t to live like a hermit, but rather to swap out the stuff that’s preventing you from building wealth for things that’ll accelerate it. Small changes add up.

Nudge Yourself

Next, set up nudges. For example, you’re more likely to go to the gym if it’s literally next to your house than if the gym is 20 minutes away.

You can apply a similar strategy by structuring your environment so that good money habits are your default behavior.

For instance:

Dedicate a specific area in your home for managing finances and working on side hustles. This encourages you to get “in the mood” when you sit there.

Hang reminders of your financial goals on your walls or phone background.

Surround yourself with personal finance videos, books, and podcasts.

When wealth-building becomes part of your daily scenery and social circle, you’ll find yourself making smarter money moves without even trying.

🔎 reThink More

Why everyone is too afraid to quit their jobs right now…

We reached a new inflation milestone… good or bad news?

So will getting rid of taxes on tips help or harm service workers?

📝 reThinkable Quiz

PS: Here’s some lava flow

If you enjoyed today’s newsletter, share it with your friends and family!

Was this forwarded to you? Sign up here.