Latest news with #SteveChen
Entrepreneur
4 days ago
- Business
- Entrepreneur
Seven Steps to Escape the Paycheck-to-Paycheck Trap
The financial reality in America is stark. Drive down your street and count ten houses—seven of those households are living paycheck to paycheck. They have no savings buffer, no financial... This story originally appeared on Due The financial reality in America is stark. Drive down your street and count ten houses—seven of those households are living paycheck to paycheck. They have no savings buffer, no financial cushion. All money comes in, and all money goes out. These families are one job loss away from foreclosure, one medical emergency from bankruptcy. Yet from the outside, many of these households look prosperous. The facade of financial stability masks a precarious reality that I find deeply concerning. After listening to Steve Chen, founder of CALLTOLEAP, outline his approach to financial freedom, I'm convinced we need a practical roadmap to escape this trap. The Seven-Step Financial Freedom Plan Financial freedom isn't about getting rich quick—it's about building systems that create stability and growth. Based on Chen's advice, I've outlined the seven critical steps anyone can take to transform their financial situation: First, track every dollar. You can't manage what you don't measure. Using a money-tracking tool or a simple spreadsheet to monitor your expenses is the foundation of financial control. This visibility alone often reveals spending patterns you never realized existed. I've found that people who track their spending typically discover 10-15% of their money disappears on things they don't even value. This isn't about restriction—it's about intentionality. Second, become what Chen calls a 'level two budgeter.' This means saving at least 10-20% of each paycheck. This isn't arbitrary—this savings rate creates the momentum needed to break free from financial vulnerability. 'I would become a level two budgeter and save at least 10 to 20% of my paycheck.' The math is simple but powerful: saving just 15% of your income can build a six-month emergency fund within two years for most households. View this post on Instagram Making Your Money Work Harder The next steps focus on optimizing what you've saved and eliminating financial drags: Store your savings in high-yield accounts earning 3-5% interest (not the 0.01% most traditional banks offer) Systematically eliminate credit card debt using the avalanche method (highest interest rate first) Open a Roth IRA and begin investing following a clear, step-by-step approach The difference between keeping money in a traditional savings account versus a high-yield account can amount to thousands of dollars over just a few years. Meanwhile, credit card interest can silently drain your wealth-building potential if not addressed strategically. Building Financial Intelligence What struck me most about Chen's approach is that it doesn't stop at mechanical actions. He emphasizes the need to develop financial intelligence through reading books like 'The Algebra of Wealth' and 'Secrets of a Millionaire Mind. I believe this is crucial because financial freedom is as much about mindset as it is about mechanics. Without addressing both, people often sabotage their progress without realizing it. The final step—accountability through tracking progress—might seem simple, but it's powerful. There's something psychologically rewarding about checking items off a list, which helps maintain momentum when motivation inevitably wanes. Beyond the Technical Steps What's not explicitly stated but implied in Chen's approach is that financial freedom isn't just about having more money—it's about having more options. It's about not being at the mercy of an employer, a medical system, or an economic downturn. The seven households on your street living paycheck to paycheck aren't just missing out on wealth accumulation—they're missing out on peace of mind, choices, and opportunities. I find it tragic that so many Americans have normalized financial precarity. We've accepted as inevitable what is actually fixable through systematic action. Financial freedom isn't a luxury—it's a necessity in an increasingly unstable economic landscape. The steps Chen outlines aren't complicated, but they do require consistency and commitment. The question isn't whether we can afford to follow this path—it's whether we can afford not to follow it. Because the alternative—being one emergency away from financial ruin—is a risk none of us should accept as normal. The post Seven Steps to Escape the Paycheck-to-Paycheck Trap appeared first on Due.
Entrepreneur
6 days ago
- Business
- Entrepreneur
The Smart Money Order: Why Most People Get It Wrong
I recently watched a talk by Steve Chen, founder of CALLTOLEAP, where he outlined the optimal order for allocating your money if you bank with major institutions like Chase, Wells... This story originally appeared on Due I recently watched a talk by Steve Chen, founder of CALLTOLEAP, where he outlined the optimal order for allocating your money if you bank with major institutions like Chase, Wells Fargo, or Bank of America. His advice struck me as both practical and eye-opening, especially considering how many of us are making critical mistakes with our financial planning. As someone who has helped many friends organize their finances, I've seen firsthand how people often jump straight into investing without building the proper foundation. Chen's approach offers a clear roadmap that I believe everyone should follow. The Right Order for Your Money Chen outlines a five-step approach that makes perfect sense when you think about building wealth strategically: This hierarchy prioritizes security and tax advantages before jumping into the stock market through regular brokerage accounts. It's a sensible approach that too many people ignore. The post The Smart Money Order: Why Most People Get It Wrong appeared first on Due.
South China Morning Post
21-05-2025
- Entertainment
- South China Morning Post
20 years of the internet's ‘like' button, and why Facebook's Mark Zuckerberg opposed it
The internet would not be the same without the 'like' button, the thumbs-up icon that Facebook and other online services turned into digital catnip. Advertisement Like it or not, the button has served as a creative catalyst, a dopamine delivery system and an emotional battering ram. It also became an international tourist attraction after Facebook plastered the symbol on a giant sign that stood outside its Silicon Valley headquarters until the company rebranded itself as Meta Platforms in 2021. A new book, Like: The Button That Changed The World, delves into the convoluted story behind a symbol that has become both the manna and bane of a digitally driven society. It is a tale that traces back to gladiator battles for survival during the Roman Empire before fast-forwarding to the early 21st century when technology trailblazers such as Yelp co-founder Russ Simmons, Twitter co-founder Biz Stone, PayPal co-founder Max Levchin, YouTube co-founder Steve Chen , and Gmail inventor Paul Buchheit were experimenting with different ways of using the currency of recognition to prod people to post compelling content online for free. Advertisement
South China Morning Post
20-05-2025
- Entertainment
- South China Morning Post
The history of the internet's ‘like' button, and why Facebook's Mark Zuckerberg opposed it
The internet would not be the same without the 'like' button, the thumbs-up icon that Facebook and other online services turned into digital catnip. Like it or not, the button has served as a creative catalyst, a dopamine delivery system and an emotional battering ram. It also became an international tourist attraction after Facebook plastered the symbol on a giant sign that stood outside its Silicon Valley headquarters until the company rebranded itself as Meta Platforms in 2021. A new book, Like: The Button That Changed The World, delves into the convoluted story behind a symbol that has become both the manna and bane of a digitally driven society. It is a tale that traces back to gladiator battles for survival during the Roman Empire before fast-forwarding to the early 21st century when technology trailblazers such as Yelp co-founder Russ Simmons, Twitter co-founder Biz Stone, PayPal co-founder Max Levchin, YouTube co-founder Steve Chen , and Gmail inventor Paul Buchheit were experimenting with different ways of using the currency of recognition to prod people to post compelling content online for free.
Entrepreneur
10-05-2025
- Business
- Entrepreneur
Three Harsh Truths Every 20-Year-Old Needs to Face
Recently, I watched Steve Chen, founder of CALLTOLEAP, share some powerful insights that resonated deeply with me. As someone who helps thousands build wealth, Chen offered three brutal truths that... This story originally appeared on Due Recently, I watched Steve Chen, founder of CALLTOLEAP, share some powerful insights that resonated deeply with me. As someone who helps thousands build wealth, Chen offered three brutal truths that every young adult should hear, especially those feeling lost or comparing themselves to others on social media. These aren't comfortable lessons, but they're necessary medicine for anyone wanting to build a meaningful life. Having worked with many young professionals, I've seen how these principles separate those who thrive from those who remain stuck. Nobody Is Coming to Save You The first truth Chen emphasized hit me hard: nobody is coming to save you. This might sound harsh, but it's incredibly liberating once you accept it. Too many of us waste precious years waiting for someone to fix our problems or create opportunities for us. Chen bluntly said, 'It doesn't matter what your teachers taught you. It doesn't matter how your parents raised you. It doesn't matter how your friends mistreated or bullied you in school.' I've seen this pattern repeatedly. People who succeed stop blaming external circumstances and take complete ownership of their lives. They understand that while life isn't always fair, taking responsibility is the only path forward. This doesn't mean your past doesn't matter or that systemic issues don't exist. But dwelling on them rarely produces results. What matters is what you do next. 'It's your responsibility to become the highest version of yourself and to always move forward because no one's going to do it for you.' Steve Chen View this post on Instagram Your Actions Define Your Character The second truth focuses on the gap between intentions and actions. Many people I know talk about what they want but do very little to achieve it. Chen's message is clear: you are what you repeatedly do. This principle applies to every aspect of life: If you want financial freedom, you must save and invest consistently If you want physical strength, daily exercise is non-negotiable If you want to be known for kindness, serving others must become habitual This is particularly relevant today, when we often confuse posting about values with living them. The truth is that character isn't what you claim to be—it's what you demonstrate through consistent action. As Chen says, 'Do as many reps as you can so you can proudly wear that badge of character on your chest.' This reminds me that excellence isn't an event but a habit formed through daily choices. Comparison Is the Thief of Joy The final truth addresses something I struggle with: the tendency to compare our behind-the-scenes to everyone else's highlight reel. Social media has amplified this problem to unprecedented levels, creating unrealistic expectations about what life should look like. Chen reminds us: 'Not everyone's always going on vacations. Not everyone lives in a mansion and drives nice cars. And not everyone has close friends and family.' What appears perfect from the outside rarely is. I've worked with clients who seemed to 'have it all' yet were deeply unhappy. Conversely, I've met people with modest means who found profound fulfillment by appreciating what they already possessed. The solution? Chen suggests: 'The grass always seems greener, but nothing grows without watering what's already yours.' This means: Practicing gratitude for what you currently have Investing energy into your existing relationships and opportunities Defining success on your own terms rather than society's expectations This final point is crucial. When we stop measuring our worth against others' curated lives, we free ourselves to build something authentic. These three truths aren't easy to swallow but are transformative when applied. Taking full responsibility, building character through consistent action, and focusing on your own journey rather than comparing it to others—these principles create the foundation for a life of purpose and fulfillment. The question isn't whether these truths apply to you—they apply to all of us. The real question is whether you'll have the courage to embrace them and let them guide your decisions. The post Three Harsh Truths Every 20-Year-Old Needs to Face appeared first on Due.
