When we introduced this part of the course, we described step 2 as “learn how to be lucky”. This probably made a few of you laugh, raise your eyebrows, or otherwise review our plan with some skepticism. But here you are!

We all know that luck is abstract, so how can you be taught something that you have no control over?

What you need to do is understand the difference between luck and chance.

Chance is a random occurrence, which often seems to have a small likelihood of occurring. Chance is winning the lottery or being struck by lightning.

This is why it is actually possible for you to manufacture your own luck. This is because luck is actually a different phenomenon. It is creating favorable odds for success by setting yourself up to take advantage of opportunities as they are presented to you.

Being in a position to take advantage of opportunity happens because you planned ahead and worked hard to position yourself. Working through the worksheets in step one is an example of this.

When you have a good sense of where your money is going, you can adjust your spending, begin saving, and prepare to take advantage of new opportunities.

Consider the stories of Michael Jordan, Jack Ma, JK Rawlings, and others.

In each of these cases, we see a person who overcomes obstacles, setbacks, and life struggles because of their perseverance. Jordan didn’t make his high school basketball team as a Freshman, so he went to work and trained. Jack Ma struggled to get into college, to get basic jobs, and eventually learned about the internet and saw an opportunity. JK Rawlings famously had her book rejected by 12 publishers.

Each of these people didn’t get lucky, they worked. Every day they took the inputs the world was giving them - not making a team, not getting a job, not getting the time of day from a publisher - and used that not as a reason to give up, but as a way to measure their current state versus their objective.

Luck for them came out of patience, focus, and being ready when opportunity presented itself. It can be the same way for you.

In step 1 of this program, you have been tasked with filling out your financial documents, achieving a personal positive net worth gain, and a savings rate of 10%. These are the first acts of perseverance, focus, and preparation to take advantage of opportunities.

And now, onto Step 3: Avoiding Debt