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Just my thoughts #0817

Core Values and Efficiency: Talented people often face financial struggles. If you live alone, being talented can be a significant advantage in terms of survival. However, in the real world, you usually live with others; therefore, it’s more effective to focus on your core values. In other words, investing time in things outside your core values is a waste. Even if you’re better at something than others, you’re more likely to succeed by ignoring it and focusing on your main strengths because time is limited. For example, being skilled at investing and introducing investors to other companies are two different tasks. To prioritize your core values, you need to clearly define your identity and confidently reject offers that do not align with them. There’s an apparent reason why we often hesitate to act, even when we are skilled at what we do. - Joseph’s “just my thoughts”
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Just my thoughts #0634

Money and attention affect how we experience pain and joy. People tend to feel worse when paying in cash than when using a card. If a restaurant charges you $1 for a spoonful of food, your enjoyment diminishes because you focus more on the cost than the food itself. To reduce spending, you should make spending feel painful. For example, paying with cash rather than a credit card usually leads to less spending. Automatic debit can become a trap. A study shows electricity use increases by 4% when bills are paid via direct debit. Managing spending involves controlling how much importance you give to it. Ultimately, to reduce expenses, we need to change the system and its structure.


- Joseph’s “just my thoughts”




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