Wise & Wealthy: Breaking bad habits and avoiding financial ruin

Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.

#44 – November 21, 2022

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Wise: Breaking bad habits

I’ve tried many different ways to break my bad habits. But none of the conventional tips and tricks brought me lasting success.

Here’s a standard piece of advice: “Replace a bad habit with a good one.”

But that didn’t work for me. That’s because most bad habits originate from our lifestyle, which is a culmination of all our habits. 

So when you try to break one habit, the rest of your lifestyle remains intact. This means it’s only a matter of time before you revert to your previous routines. 

This is precisely why I believe it’s most effective to change your entire lifestyle for the better. Break all your bad habits at once.

↳ Why You Can’t Break Your Bad Habits

Wealthy: Avoiding financial ruin

Bernie Madoff, Elizabeth Holmes, Sam Bankman-Fried. Just a few big names who financially ruined themselves, but more importantly, also brought the same thing to others.

That’s a tragedy.

Can we avoid that type of financial ruin? According to the best investors of all time, Warren Buffet and Charlie Munger, the answer is yes.

One must stay in their “circle of competence.” In other words: If you don’t understand an investment 100%, avoid it.

Furthermore, you will not only avoid big financial losses with that strategy. You will also set yourself up to build inevitable wealth.

When you avoid ruin and big mistakes, it’s only a matter of time before you get rich when you invest in what you understand.

↳ To Build Inevitable Wealth, Simply Avoid Financial Ruin

One interesting thing

To remain in balance in our pursuit of wealth, it’s good to be indifferent to the outcome. That’s why I like to read Eastern Philosophy, in particular, Jiddu Krishnamurti. Here’s a quote:

“As long as there is the desire to gain, to achieve, to become, at whatever level, there is inevitably anxiety, sorrow, fear.”

This mindset neutralizes greed.

Thanks for reading! I hope you found this edition of Wise & Wealthy useful.

All the best,


Join the 7-day Stay Centered challenge

I’ve created a one-week email course that you can do together with a group. It’s called Stay Centered, and it will help you to reclaim focus and live a meaningful life.

When you’re centered, nothing can hurt you. You will have inner peace no matter what happens.

How to unlock Stay Centered

You can join the challenge for free. Every day, you’ll receive a short email with a small challenge that inspires you to live better. 

I highly recommend sharing it with your friends so you can go through the program together. I did it with my team, which was a lot of fun. 

Join here: dariusforoux.com/stay-centered

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