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The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
Habits = “automatic” responses...
...to familiar environmental cues.
They form when you engage in a behavior repeatedly in the presence of consistent stimuli.
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Self-Discipline - a series of healthy habits
Long term change is better served by building better habits, than by forcing your willpower.
You will choose the apple over the cake for a number of times ... and then give up. Building a habit to start the day by going to the gym will work better.
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Habits are comprised of 3 main parts:
- An environmental cue (that triggers your brain to initiate a habit);
- A behavioral response (the manifestation of the habit);
- A reward (that reinforces the habit).
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Willpower is like a muscle
Just like going to the gym and building up strength, the more you train your willpower by accomplishing tasks on a consistent basis, the more you’ll have of it.
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Making a good habit stick requires:
- Knowing the basics about how habits form and how they work
- Adjusting your perception about the habit you want to build - If the habit seems impossible, then it will feel harder
- Planning for when things go wrong
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Changing a habit
...means changing the cue that triggers it.
Instead of focusing on developing the habit of “working out,” develop the habit of putting yourself in the position to work out regularly: get home, get into workout clothes, prepare you water, go to the gym.
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There’s no magical number...
...of days to form a new habit.
Instead, habits come about gradually over time and in a non-linear fashion.
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Missing a habit is not the end of the world
While consistency is key, missing one or a handful of opportunities to practice the desired habit will not ruin your chances at establishing that habit in the long run.
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