Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.
Note: If you’ve been wanting to have more energy, focus, and stop putting things off; then you can check my course, Procrastinate Zero 2. Registration is open until October 1st only.
#90 – September 25, 2023
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Wise: Meaningful productivity
Productivity does not equal busyness. This is the most important realization that I had in my career.
Once I understood the true definition of productivity, I didn’t only accomplish more, I also felt happier.
I must tell you that my happiness, wealth, and health all improved once I focused on one thing: Improving my productivity.
The moment I finally figured out how to achieve a goal in the most effective way (which is what productivity is about), I started making meaningful progress in my life.
And this is what I think is the most important thing in life: Making meaningful progress.
In my new article, I share how to achieve that.
Wealthy: Matthew Effect
The Matthew Effect, also known as the platitude, “the rich only get richer.”
It’s a scientifically recognized phenomenon that has been studied by sociologists and economists.
Coined by sociologists Robert K. Merton and Harriet Zuckerman in 1968, the term derives its name from a biblical parable found in the Gospel of Matthew.
The underlying mechanism of the Matthew Effect is preferential attachment.
In simpler terms, it’s the idea that wealth gravitates towards those who already have it.
If you have more resources, you’ll generally find it easier to gain even more. But if you don’t have any resources to begin with, it’s hard to grow.
This is like a self-enforcing loop. Can you break the loop if you’re not rich yet?
One interesting thing
I’m currently resonating a lot with Angela Duckworth’s book and philosophy of Grit. Particularly this quote:
“To be gritty is to resist complacency.”
I’ve been teaching online courses since 2016 and sometimes it’s tempting to just do the same thing over and over again. But the above quote really inspired me to keep improving my work.
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
Join the 5-day Financial Freedom Challenge
I created a 5-day email course you can do alone or together with a group. It’s called the Financial Freedom Challenge. And it will help you to gain control over your finances.
Most people try to calculate their way out of poor finances. But money problems aren’t rational. They’re emotional. Manage your emotions well, and you’ll manage your finances better.
How to Unlock the Financial Freedom Challenge
You can join the challenge for free. For five days, you’ll receive a short email with a small challenge that inspires you to improve your relationship with money.
I highly recommend sharing it with your friends/family so you can go through the program together. It helps bring perspective. And it’s more fun that way too.
Join here for free: dariusforoux.com/financial-freedom