Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.
#59 – February 27, 2023
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Wise: Unproductive habits
The reason I study productivity is that I’m naturally an unproductive person.
I sleep too much. I talk too much. I read too much. I listen to music all day. I watch movies. I love buying gadgets.
I think we all have unproductive habits.
You only run into problems when you give into the habits that make you unproductive. As always, if you want to improve something about your life, it starts with awareness.
This is why I like to remind myself of the unproductive habits I tend to have.
Take a look at the list. If you have a few of these habits, it’s not a big deal. No one is perfect.
But if you have five or more, it might be time to make a change.
Wealthy: Investing pitfalls
There are a lot of big bad wolves in the public markets who are after your money.
That’s one of the reasons investing can be dangerous. But that’s not the only pitfall.
We’re also our own enemy. We tend to make bad decisions that end up being very expensive.
How can you avoid these pitfalls? I identified 4 principles.
I talk more about each principle in my new article. The main idea is that you should know what you’re doing.
If you invest without educating yourself, being skeptical, proceeding with caution, and being consistent; you’re setting yourself up for failure.
Avoid that fate by following these proven principles.
One interesting thing
Let’s turn to one of the greatest thinkers in American history, Benjamin Franklin, for advice on building wealth:
“In short, the way to wealth, if you desire it, is as plain as the way to market. It depends chiefly on two words: industry and frugality. Waste neither time nor money, but make the best use of both. He that gets all he can honestly, and saves all he can, will certainly become rich.”
Be industrious and frugal. I love this advice.
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
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