It’s no secret that saving is an essential skill when it comes to building wealth. No matter how much money you make, if your spending exceeds your income, you will always remain poor.
I’ve read countless articles that emphasize the importance of saving, but they all gave really generic advice, such as eating out less, spend less on clothes, etc. None of those explain the psychology behind why we spend the way we do.
I hope that the advice you find in this article digs deeper into it so you can apply them in a practical manner to start saving…
Marketing is a lie.
Because without it, products cannot be sold.
Marketers spend a huge amount of budget and energy to educate the population about their product and brand.
Think to yourself — if there was no marketing for a product, would you still buy it?
And if the answer is yes, then that product doesn’t need to do any marketing.
Tesla spends $0 on marketing. Yet they have become the most valuable car company in the world, having recently exceeded Toyota. Their cars use some of the most advanced technology available.
Google Search doesn’t need marketing. The term Google…
Every writer has faced writer’s block before.
When the next word doesn’t come out as you intend to. Or if it doesn’t come out at all.
But it’s all a mind trick. A psychological game.
There is a way to conquer this barrier.
In the field of behavioral economics, loss aversion tells us that people prefer to avoid loss, even when given the opportunity for equivalent gain.
In other words, people would rather not lose $5 than gain $5.
But that doesn’t make any logical sense because, in actuality, the two are equivalent.
Here’s how loss aversion explains writer’s block.
When there’s a will, there’s a way.
Or so they say.
Unfortunately, there’s not always a will.
Think of willpower as a mana bar. You have your basic moves (survival tasks such as personal hygiene, consuming food and water, walking), and you have special moves (more intense tasks such as exercising, reading, learning a new skill).
Basic moves only require physical energy, so as long as your body is properly sustained by food and water, you are okay.
Special moves, however, require mana. Everyday, you start out with a set amount of mana that does not regenerate. Once you run…
The road to wealth is not only about how much money we make but how much money we save.
If a person makes $100,000 but spends $100,000, they end up with nothing. On the other hand, if someone makes $30,000 but spends $20,000, they end up with $10,000.
Of course, making more money does give you the potential to save more money. However, if your lifestyle becomes more expensive as you make more money, it’ll be very easy to cancel out that extra income.
The trick is to keep your expenses the same (or lower). Just put that money away…
Time is our most valuable resource.
How we spend our time is a reflection of literally who we are. It’s the perfect measurement because we all get exactly 24 hours in a day, no more, no less.
Wasting time results in less time, which likely results in us making worse decisions, and ending up with even less time. And so on.
Some things are just not worth our time. We’d be better off spending it in other areas.
Complainers are selfish. They constantly think about themselves and how things could work better for them.
They don’t consider how much work…
Remember back in the day when watches were meant to tell time from the convenient location of your wrist?
Neither do I.
Because now watches do so much more. Almost too much that time is the last thing on our minds, much like the watches in Spy Kids 2 (which does a bunch of cool things but doesn’t tell time).
I got an Apple Watch just a week ago, and I already feel so much more empowered to take control of my health destiny.
Here are some of my favorite health-related features.
Since I work a desk job, I sit…
Most successful people attribute their success to waking up incredibly early.
But why should they be the only ones taking advantage of having an early morning?
If we want to find success in our lives, I say we should also follow their example.
I’ve only started doing this for a few months, and already I’ve found numerous benefits.
But wait, there are only 24 hours in a…
Writing is hard.
To do it consistently is even harder.
If we write for the wrong reasons, we will quickly lose motivation and stop altogether.
But writing is rewarding, for both the writer and the reader.
Today, I outline how I stay motivated while writing.
This is a common misconception on why writers write.
The first reason to write should never be based on the readers of the written word.
That’s because when starting out, nobody will read your work except for your friends and family.
And they will only read your work because you asked them to, not because…