One habit that can make you a millionaire
Start Building Wealth as a Creighton Student
You don’t have to wait until graduation to start building wealth. In fact, says Bradley T. Klontz, PsyD, CFP, the best time to begin is right now.
Klontz, an associate professor of practice in economics and finance at Creighton’s Heider College of Business, studies how psychology shapes our relationship with money. In the latest Creighton Fast Class, he explains the one simple habit that separates lifelong savers from lifelong spenders: pay yourself first.
“You will become a multi-millionaire if you do this one thing,” Klontz says.
It’s advice he wishes every college student could hear before their first paycheck. Many new graduates, Klontz explains, fall into the same trap: increasing their spending every time they get a raise. “It’s called lifestyle creep,” he says. “And it will keep you broke forever.”
Instead, Klontz encourages students to flip the script. Before deciding where to live, what furniture to buy or how much to spend on clothes, he says, set aside savings first—ideally 30% of your income—and invest it automatically.
“Commit to saving and investing the first 30% of every dollar you make,” he says. “Do that, and you’ll be a multi-millionaire.”
Klontz, a founder of the Financial Psychology Institute and managing principal of Your Mental Wealth Advisors, combines behavioral science and financial planning to help people build healthier money habits. He says small, consistent actions make the biggest difference over time.
“It’s not about how much you make,” Klontz explains. “It’s about what you do with what you make.”
For Creighton students, that lesson aligns with the University’s values. It’s about making intentional choices today that lead to a life of purpose, growth and financial freedom tomorrow.
“Before you design your life, pay yourself first,” Klontz says. “You won’t even notice it’s gone, and before you know it, you’ll be financially free.”
Explore Finance at Creighton
Students in Creighton’s finance program gain more than technical knowledge. They learn how money and behavior connect, gaining the insight and analytical skills to make sound financial decisions.
