Not-so-secret life advice from an average person
People like to read and learn tips or secrets from other successful figures or individuals. It’s understandable as I also do the same. I like to learn how those successful figures achieve what they have achieved. We all can learn a few things from them with the hope to have similar success. But, is it a realistic expectation? How many people could actually achieve the same success as those figures? What if their successes are more like an exception, not a norm?
It is always good to want to learn from the best. But it might also be good to learn things from normal people too. Everyone has challenges in life. Their perspectives and experiences would be as valuable as those successful figures. I am writing to this point to give justification to myself to share my productivity tips. I am a normal person like everyone else. I am hardly successful. But I have gone through a number of ups and downs in life. So, I have a few things to share in this post.
Saving advice from a banana economist
I have a degree in economics, but I never work in an economic field. So my knowledge has been fading. I hence call myself a banana economist because I am not a qualified economist. You should read my advice at your own risk.
I do apply some economic theories (that I can remember) in my saving strategy. I believe that the saving strategy should be arranged by “asset liquidity”. A liquid asset is an asset that can easily be converted into cash in a short amount of time. Based on this definition, cash would come into mind. When applied to a saving plan, you should have three buckets of assets:
Bucket 1: Highest liquid asset: this is your cash saving. My rule of thumb is you should have cash in your bank account that lasts for six months if the worst thing happens to you, e.g. you are out of a job. Please bear in mind, however, that the return on the highest liquid asset is usually the lowest. It’s a tradeoff.
Bucket 2: Moderate liquid asset: this bucket could be a mutual fund, stock, gold, or all of them. You cannot convert this bucket to cash as quickly as cash itself. The value of these assets might not be as good as you want, and you may have to wait for a little to sell them. But, you can count on them in the rainy days.
Bucket 3: Illiquid asset: This is your property (portfolio if you have more than 1). It is your long term investment. In general, this type of assets should increase in value overtimes.
There was advice that I use as my life mantra. We should buy and pay off a house as a first priority. Cars are a distraction. You need a car to be a vehicle to take you from point A to point B or as a part of the business. Using or seeing cars as something else is a pure distraction. I paid off my first mortgage when I was 42. And I use a 2006 Toyota Camry. The car serves my purpose (to take me from point A to point B). I cannot see myself buying a new car any time soon.
Work-life balance is for losers
I didn’t come up with this statement, but I agree. I never believe in work-life balance. But, I don’t think that people who believe in this mantra are losers.
People believe in work-life balance mostly because they don’t like what they do for a living. Most people burn out because they chase the wrong goals — probably money and status. I don’t always like every aspect of my job. However, I feel proud of every solution I come up to help people. I then move on to the next things. I like money, but money is not the only motivation that drives me to do things. A feeling of achieving something bigger than myself and for others plays a big part in my life.
A better approach than a black and white work-life balance is what I called an “integrated lifestyle”. I plan my days and weeks by including all the important aspects (time for myself, time for my family, and time for work) in my schedule. Those elements could happen on the same day. It really depends on what I try to achieve at the time.
To live in an integrated lifestyle, I created a habit to wake up early in the morning to study and to work while my family is sleeping. They have my sole attention whey they awake. I then shift my focus to the next priorities for the day. You would be surprised to know that waking up early is the key to my success as an average person.
Fulfilment is the right word for your productivity life. It’s a true source of happiness. And remember this…
Practices once a week aren’t habits at all. They are obligations.
Jeff Goins
What is your contingency plan?
Do you have a contingency plan when things go terrible? If you don’t, I strongly suggest that you should create one. It’s very simple to create a plan. However, it could take some times to build up a backup to the level that you would be safe if bad things happen.
You can start with your family’s finances. It would be best if you actually started with the family’s finances. What would the worst-case scenario look like? You and your partner are out of jobs at the same time for, say, 12 months. What do you need to survive for 12 months without incomes coming in?
The easiest and most obvious starting point to put the plan in action is to list all necessary expenses, e.g. mortgages, school fee, groceries, etc. It will give you the bare minimum amount of money you need per month. Multiplying that number with 12, you get an annual amount. It would help if you then came up with a saving plan to reach that amount while you still have incomes.
I think most people got the above idea. However, not many people are serious about it, nor have the discipline to get through it. I always prepare for the worst and didn’t expect that something like the virus crisis would happen. I am luckier than a lot of people in many ways. But, it makes me feel good that I can look after my family during the difficult times.
If you haven’t done it yet and still earn incomes, I strongly recommend that you do it now.
How to find your passion
Do you know what your passion in life is? Do you feel you couldn’t wait until the morning to come to work? Many people don’t know what their passion is. Life without passion would be bland. I don’t know exactly what my passion for my career is. However, I know what I enjoy doing — solving problems, and helping people.
Passion can act as a shield that keeps you going when you are down. The interesting aspect is you don’t find your passion; you build it. It is a discovery process, not a match made in heaven.
If you haven’t found your passion yet, you haven’t explored enough. To explore, you need courage. With courage, you try new things. You could fail of course. But you will learn a few things which make you a better person too.
Quotes that I love
I want to finish this post with the quotes I love. As an average person, I am proud of what I have achieved in my small world. I hope these quotes will give you going.
“Speak in such a way that others love to listen to you. Listen in such a way that others love to speak to you.”
“Forget it enough to get over it, remember it enough so it doesn’t happen again.”
“A river cuts through a rock not because of its power but its persistence.”
And, the last one is about what a leader is…
“If your actions inspire others to do more, learn more, do more and become more, you are a leader.” I truly love this one. It saves me from reading 100 books of leadership in one sentence.
