Dr. Michael Carey, Executive Director of FuturePlan Financial, August 2026
Are you concerned about money? In The Seven Habits of Highly Effective People, Stephen Covey acknowledged that we each have a “Circle of Concern”, the things we each care about or worry over, but often have little to no control over. For most people, money matters is within that Circle of Concern.
But we each also have a “Circle of Influence”, the things we can each do something about. Covey’s First Habit is to “be proactive is about taking responsibility for our lives. This is the first habit because every other habit depends on our ability to act proactively rather than reactively—to make things happen rather than waiting for them to happen” (https://www.franklincovey.com/courses/the-7-habits/habit-1/).
Neither you nor I can control the economy, nor the cost of rent, gas, and groceries. But we can control what we choose to buy, rent, or subscribe. Not that we can change all our spending at once. We may have leases, mortgages, contracts, or debts from previous choices. Yet today we can decide whether to pay $3.50 for a cold drink at a convenience store or buy a case of the same drinks half-price at a big box store. We can choose to keep some of those half-price drinks at the ready in a little cooler instead of impulsively paying jacked-up prices when thirsty.
When it comes to spending, you’ve got “agency”. You’re in control of whether you buy high-priced refreshments at a movie theater, whether to keep hardly-used streaming services, or whether to keep paying for a storage unit to hoard stuff that you may never use.
Most people can cut costs by identifying and eliminating “piss-away spending”. To empower them, FuturePlan Financial provides its clients with no-cost use of Monarch Money, a secure app that tracks where their money goes. Knowledge is power. Knowing “where it goes” helps our clients choose to spend on things that bring them true joy instead of “pissing it away.”
Of course, if you’re stuck with an apartment lease, a mortgage, or car/boat payment that you really can’t afford, it may take months or years to get a lower-cost house, apartment, or vehicle. Yet the choices you make today to spend-less-than-you-earn will give you confidence as you deal with bigger expenses.
Spending less than you earn is a revolutionary, a habit that enables you to make powerful money-moves. It allows you to build up an emergency fund—the “moat around your “castle”. It enables you to break the chains of high interest debt. It positions you to sustain ongoing investing as you pursue your goals.
Once you’re in the habit of spending less than you earn, you can take Warren Buffet’s advice and “pay yourself first…spending what’s left over after you save.” That’s why FuturePlan Financial help clients set up automated investing—so they can build wealth “on autopilot”.
Mastering the habit of spending less than you earn could change your future dramatically. If you start early enough, investing just 10% of your income could lead to a 100% increase in your retirement income, if you invest wisely. Your financial future is surely within your “Circle of Influence.”