Decide what to change - Deepstash

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Pause Before You Begin: How to Invest in Yourself

Decide what to change

Which three areas did you give the least amount of time to? Consider how you want to invest in those areas this year and write it down.

Is there anything you planned that you did not get to do last year? Jot it down.

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SIMILAR ARTICLES & IDEAS:

Jack Mezirow

"By far the most significant learning experience in adulthood involves critical self-reflection - reassessin..."

Jack Mezirow
3 areas of life to clarify

You need to have absolute clarity over 3 fundamental facts:

  • Your goals (the destination)
  • Your current situation (your coordinates)
  • The path that connects both of them (the route).

A very simple, but crucial principle: if you don’t know where you are, you can never reach the place where you want to be.

The world of the status quo bias

Making an alternative choice is hard because we are neurologically wired to favor the default solution, even if it brings suboptimal results.

As the complexity of a decision increases, so does our tendency to stick with the answer we know.

Tradeoffs
Every decision we take, has a tradeoff, an opportunity cost. Instinctively we try the all-out approach, resulting in failure.
The real problem lies in our judgm...
Striving for Everything

A tradeoff is inevitable in almost every decision we take, as we usually forego some opportunity or benefit in our choices.

Many people strive for everything and believe there are no tradeoffs.

Focussing on less can get you something but focusing on everything may get you nothing.

Having "Everything"

We seem to think that the people around us have everything in life.

Tradeoffs in others take time to become apparent. Everyone lets go of something, making a sacrifice, to be able to focus, investing time and energy in what is important to them.

The Golden Rules of Personal Finance
  • Spend less money than you earn
  • Always plan for the future: you should always look forward beyond the current month
  • Make your mon...