Mike Carruthers

I can go to sleep pretty easily after drinking caffeine, and a lot of other people can too.

But apparently, according to the researchers, the caffeine keeps you in a lighter stage of sleep.

And that's not good.

And that is something you should know.

Money is one of those topics everyone has an opinion about, and almost no one feels like they totally get it right.

But when you strip it all down, the basic idea of building wealth isn't that complicated.

It mostly comes down to one thing, spending less than you make, and then saving the rest before you ever get your hands on it.

Because any money that actually hits your checking account, I mean, let's be honest, it's already in danger of being spent.

That's why one of the most powerful ideas in personal finance is making savings automatic.

The same way taxes disappear from your paycheck before you ever see them.

When savings happens first and then time and compound interest takes over, the results can be phenomenal.

And no one has explained this better than David Bach.

He's a financial expert and the author of 10 best-selling books, including The Automatic Millionaire, which first came out 20 years ago and has just been expanded and updated.

Hey, David, welcome to Something You Should Know.

Mike, it's my pleasure to be with you.

Thank you so much.

So I would imagine everybody's heard a little bit about this idea of automatic savings and that there's some magic to it, that it's easier to save money if you never get your hands on it first.

But start by talking about the problem that we're addressing by looking at automatic savings.

And so then people will say, I don't have enough money to sock away every month, every week.

I need to live paycheck to paycheck because I need it.