You Should Build Mental Models Instead of Goals and Habits
The opportunity cost of setting goals and trying to build habits is unjustifiable when we bring mental models to the scene.
I discarded ‘mental models’ as some other buzzwords on the Internet when I encountered it for the first time.
It was only after continuously coming in contact with this word did I grow curious enough to dive deep into this topic.
The rest is a journey of the past but here are some useful insights I would like to share with you all in this article.
Something interesting also happened in the course of discovering the world of mental models. I was reading Atomic Habits by James Clear.
I was already immersed in the world of habits and goals and how the former is exponentially better than the latter.
This situation I was in prompted me to bring mental models to the scene and see if they can help “live better.” Because ultimately I was on a quest to find the most satisfactory solution for the most common problems. That works in the long term as well.
I came to some interesting conclusions and how mental models fit in the equations.
Habits vs. Goals—the ultimate debate is still on
Setting goals is often criticised for not being effective. Often more so when it is placed beside habits.
The difference, however, is simple. One is more oriented towards short-term progress while the other is towards the long-term.
An optimum mix of the two is the solution. That is why I don’t agree with Atomic Habits word by word. Standing in either of the extremes is rarely a solution, if ever.
Nevertheless, the debate is still on, and this will likely continue through the end of the world.
Enters mental models
This is where mental models come into play. It helps you figure things out on your own. Understand the basic principles that come into play whenever we do something.
Once you are done with the basics, then customise it to fit your appetite. Whatever works for you, works for you.
I first heard about mental models from Naval Ravikant when I was reading his book The Almanack of Naval Ravikant.
He was referring to the brilliant mental models of famous veteran investor Charlie Munger. I became excited.
At first glance, the word mental models appeared as a foggy concept. Why was it called mental models? How is it different from habits? What qualifies to be called a mental model?
With the passage of time, and coming in contact with more reading materials, it started to become clear what ‘actually’ was mental models.
What is a mental model and is it capable of fame?
A mental model is nothing but a perspective to look at the world that is formed by boiling things down to their mere basics.
It can be used in decision-making, study, problem-solving, critical thinking, devising a solution-oriented approach and much more.
Let’s take an example of you trying to make a choice between A and B.
A good mental model to have is to know the concept of opportunity cost. It’s said for a reason that nothing is free.
You make sacrifices with every choice you make. The actual price of a product is not what is mentioned on it but the addition of it with the sacrifice you are making.
If you are confused between studying further and doing a job, the actual cost of you opting for the former option is not the tuition fee alone.
It’s the cost of the tuition fee and the cost of the next best alternative forgone, i.e. the salary you might have earned had you opted for the job.
The sheer vastness of its application is what makes it worth the fame. You can apply knowledge and learning of mental models in almost any field.
Why is it not useful to have mental models alone?
If we keep all the benefits of mental models on one side and examine it with a critical eye, we start to notice the fact their independent existence is questionable.
I have observed that they are most effective when we combine them with actions. Like most other things, mental models are also useless if you don’t use it in real life.
There’s no use in having a lot of mental models in your head alone. Complement it with action and you will achieve much more than running in a constant rut of habits and goals.
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