Pay Yourself First - Deepstash

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Warren Buffett’s Best Money Advice

Pay Yourself First

Prioritise your savings, not saving what is left after spending.

When budgeting, consider what is necessary to cover your basic needs, then figure out how much you want to save. The leftover is spending money. If it helps, think of your savings and investments as a monthly expense.

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Precrastination
Precrastination

Precrastination is described as rushing to complete a subgoal so you can tick it off your to-do list at the expense of extra effort. As a result, you will need more effort later to complete...

How to avoid ‘precrastination’
  • Ask yourself if a task can benefit from added time. Those that require creativity, thoughtfulness, or emotion will need a slower response.
  • Identify the tasks you can rush through.
  • Keep a calendar and to-do list. Externalizing what's cluttering your mind will leave you with energy to channel elsewhere.
A good workout
A good workout

Suffering is not always part of exercise. Sweating, breathing hard, and being exhausted afterward are not measures of effectiveness or progress.

Hard workouts should be mixed with ...

Fatigue sells

We should differentiate between what looks appealing and what is actually useful.

Ads for workout clothes seem to show people drenched in sweat. While hard training classes may be good for people to get fitter and stronger, it may feel intimidating to newcomers and is not always ideal.

Keep your eye on your goals

It's okay if you love pushing yourself and find muscle soreness to be a pleasant reminder of your workout plan. But one day, you will not feel sore or fatigued.

It is more effective to have a goal in mind that you aim towards than to focus on your experiences.

Escapism
  • It's conscious​ detachment from real life.
  • The forms it can take: watching television or movies, listening to music, reading books, playing g...
Benefits of escapism
  • It allows a momentary reprieve from your circumstances, giving you a chance to recharge your batteries before you jump back into the fray.
  • Escapism allows you to step away from your emotions when you’re feeling overwhelmed, and come back to a problem with a fresh mind.
When escapism goes too far

Escapism doesn’t make you lazy, but too much can turn into avoidance and make you stagnate instead of actively pursuing your goals.

It can cause problems with your productivity at work, in your personal relationships, and it can even cut yourself off from normal social circles.