Take The Least Used Path
To live a life that is sweet is one that allows you to feel the joy of life every day. I think this may be everyone's goal. The way to make this happen is where people differ greatly. I take a counter-intuitive approach to most people. That is because I believe in DELAYED rather than INSTANT GRATIFICATION. Let me explain. I guess I am old school with my approach. I think it is best to work towards a goal or target and then get it. If I am going to buy a lounge I would aim to save most or all the money first then go and buy the lounge. I would never use the alternative approach where I go out and instantly buy the lounge then pay it off over time. Each person will have their own way of thinking on this matter and most will do it the way they like best. All I ask is that you give me an open mind (yours that is) for a minute while I explain some of my reasons. Firstly, I really like having something to look forward to as well as achieving. When I save to buy something or even to take a holiday it is with a sense of keen expectation. It helps me save when I know what I am saving for, something that I am really going to enjoy when I have saved enough to buy it. This can be a family activity where everyone in the family knows what they are all saving towards and are all looking forward to together. Secondly, if you save for the things you buy first then you will not have to pay interest on a loan or credit card. That means you are saving a lot of extra money each time you buy with your savings. Most importantly it means you can really buy a lot more with your money. Fantastic it is like getting an extra discount. Thirdly, if you have money saved up you can look for extra opportunities to save even more money. There are hundreds of ways of doing this but let me give you a powerful approach which I will cover in the next section.
Deliver Powerhouse Strategies & Tactics
There is enormous value in a prepared approach as opposed to a random approach. If you could achieve 25% to 50% more with a simple proven approach would you use it? You would be mad not to. On the previous page I wrote about the 80/20 Rule which is super powerful and can delivery a far improved result with little extra effort. Take a look at the diagram below to see how our expectation and reality differ.
The diagram shows that what is expected is not what actually happens. 20% of our efforts give us 80% of our results. This shows a very imbalanced world where targeting the 20% most effective actions will give an enormously improved result. Let me give you a real example of how I have exploited the benefits of the 80/20 imbalance to deliver higher dividends. Last March I decided to review my private health insurance. I was not a wiz at knowing all things about health insurance so I had to do lots of research and ask many questions of the companies I was looking at. All up this took about 3 hours with research and organising the move to a new company and setting up automatic monthly payments. Now let's say my time is worth $100 per hour to make it easy. By the way I had not changed health insurance companies for more than 20 years. With the new health insurance I was able to save $100 per month. On top of that the benefits paid were approximately 50% higher than my old insurance. Check out the chart below to see how my 3 hours work paid me handsomely with a compound return.
My 3 hours effort worth $300 has saved me approximately $1800 already. The best part is that it will go on to save me around the same amount each year. This clearly shows the enormous power of targeting the 20% most effective actions. Even the one year return on invested time is 600% which is enormous by any standards. I did not factor in the 6 weeks free offer which saved me over $500 as it was a one off. So think about your situation. Are there some bills you pay each month or quarter that you could be saving big on? The 80/20 rule is brilliant for any tasks you repeat often whether at work or home. So spend some time creating your own time and money saving strategies and tactics. You won't regret it. Remember any money you save this way does not have tax charged on it and will deliver you a solid advantage to your lifestyle.
So go ahead start today to build your sweet life one small step at a time!
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