Day 10 is just about in the books and I was looking back through my previous posts. My intention is to post everyday and as I get deeper into this I think that will the case. I’m working on new habits to create more time for myself. After all it is the most valuable asset we have.
I did find solace in knowing that I have done at least one thing each day so far to make a difference in my saving pattern. Whether it has been saying no to myself as I walk past Starbucks, or signing up for a new side gig hustle. I have done at least one thing every day to save some money.
I recently came across a story about the British cycling team. In 2010, Dave Brailsford was hired as the performance director for Team Sky, the British national cycling team. Before Dave was hired, no British cyclist had ever won the Tour de France before, yet he was asked to make it happen. As any new coach will do, Dave took a detailed overall look at everything from the bikes, nutrition, and training programs. He also believed in something called the aggregation of marginal gains. Also known as the 1% margin for improvement.
He started looking into every aspect of the rider’s performance. What if the riders could focus solely on riding? If everything else was taken care of for them then they would be able to. He didn’t stop there though. Recognizing the importance of recovery, Dave made sure the riders were sleeping properly. He put the bikes in wind tunnels to get data from them and make them more aerodynamic and reduce drag. He made the riders wear special clothes inbetween races to help with muscle recovery.
His original goal was to win the Tour de France in 5 years time. They accomplished that feat in 3. In 2012, Sir Bradley Wiggins became the first British cyclist to ever win the Tour de France. It wasn’t a fluke either. That same year the British cycling team took home 70% of the cycling related gold medals at the Olympics.
In 2010, it was considered an nearly impossible task to have a British team member win the Tour de France, but in 3 short years Dave Brailsford made it happen. Not with giant leaps and bounds, but by finding out exactly what was contributing to each rider’s success and making tiny incremental improvements to each of those aspects. Over time those improvements compounded into the “impossible” gold medal.
This same theory can be used to start finding ways to increase your savings as well. Trying to increase your savings by even $100 per month can seem daunting at times. Take a look at the chart below though.
If you want to double your savings in a year, you don’t have to jump immediately to it. Just start by increasing your savings 1% every month.
I started this article talking about how I’ve made sure to do just one small thing everyday to make that small 1% a reality as well. Big gigantic leaps may seem impossible at first. But if you stick to your plan and work to get there gradually you’ll be surprised with how quickly the results begin to compile.
I came across a quote that was tweeted by the author of the four hour work week, Tim Ferris earlier today that I would like to leave you all with tonight as well. In his tweet he quoted famed film director James Cameron. It goes, “If you set your goals ridiculously high and it’s a failure, you will fail above everyone else’s success.”