How does the 80-20 rule work in your life? Are you spending your money & time in life the way you want?
In this episode we discuss:
- The Pareto Principle, or the 80/20 rule.
- Defining the 20/30/50 rule.
- 50% of your income goes to the fixed costs: rent, utilities, food (groceries), and clothes
- 20% goes to the future costs: pay off debt, investments, savings, emergency fund and retirement.
- 30% fun costs: (lifestyle) cell phone, cable, internet, movie nights, date nights, gym memberships, travel
- February's challenge is about relationships. The way we build relationships is shown by how we spend our time.
- 80% of our time is spent with people you have to spend time with (co-workers, classmates)
- 20% of our time is spent with people you choose to spend time with (how are we showing our loved ones)
- How are you spending 20%of your time that you want to spend time with?
- What does it mean to Think Enriched? It's not all puppy dogs and rainbows.
Resources mentioned in this episode:
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