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I used to think that I needed to soak up every piece of information and tip that came my way—otherwise, I was wasting my time and potentially someone else’s.I had to be quick, sort of like a game of Pac Woman where I consumed my way through a maze of information without really digesting anything.
This was not sustainable.
On top of not being able to digest even half of the information that came my way, I often beat myself up because I was certain that everyone else was able to soak in so much more.
At the apex of blogging, working full-time, and living life, I changed my ways. I figured out that it’s not about the amount of information that I consume. Rather it’s about filtering through a wealth of information to find the one to three nuggets that I want to incorporate into my life.
This could mean thinking about the nugget, allowing it to change my perspective on something, taking action by making a change, or otherwise being changed by the information. Instead of feeling satisfied when I have mindlessly “gotten through” everything, I now feel satisfied after incorporating these nuggets and seeing the impact in my life.
What speaks to you may not speak to someone else and vice versa because we are all at different places in our lives and at different levels in our financial evolution. But I wanted to share the nuggets that spoke to me from each of these books I’ve read over the last few years. Hopefully these will impact your life as they have mine.
Nuggets of Information
The Richest Man in Babylon: A theme that spoke to me throughout this book is the call on us to be men and women of action and to resist procrastination. The author points out that the majority of us do not seize opportunities but rather hesitate, falter, and fall behind. For someone who has a backlog reading list of three years or more and often becomes inspired only to write the idea down and relegate it to the back of the line, I think this is great advice.
The 4-Hour Workweek: This book introduced some strange and wonderful new concepts to me: lifestyle design, mini-retirements, and outsourcing work. What fascinating—dare I say blasphemous—ideas! The idea here is how to live a millionaire lifestyle without having $1,000,000 in the bank (which has nothing to do with material things). Most of us just want the freedom and experiences we think millionaires have. Tim Ferriss shows us that we don’t actually need to be millionaires to adopt this lifestyle.
Your Money or Your Life: This book introduced the concept of life energy to me, or rather our precious allotment of time here on Earth. Instead of thinking about the salary I am earning as a number, I was awakened to the concept of how much life energy I was trading for both my salary as well as for the purchases I was making. We don’t trade 40 hours for our salary each week, we trade a certain amount of life energy for our salary. We also don’t trade money for our purchases, but rather our life energy actualized. Once you figure out the amount of life energy your purchases are costing you, you should always ask yourself, “[d]id I receive fulfillment, satisfaction, and value in proportion to life energy spent?” The answer might really shock you.
The Millionaire Next Door: “Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.” There are many people who think they are wealthy due to their high income. Even those of us who have realised differently can remember that feeling of striking gold when looking at our first full-time paychecks. This book rightly points out that to be wealthy, one must pause to accumulate part of their income. Rinse and repeat.
Rich Dad, Poor Dad: One of the simplest pieces of financial advice I received was in this book. If you wish to be wealthy one day, you need to spend your money acquiring assets that will work for you, not liabilities that will work against you. “The poor and the middle class work for money. The rich have money work for them.” This provided a clear cut way to categorize all of our purchases moving forward: are we adding to the assets column, or to the liabilities column?
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