I could take bit more time for myself and not say always yes when asked for help.
This could release time to let brain rest and it would reduce amount tasks to complete.
Cut back on mindless IG scrolling and use that time instead to learn a foreign language (Iāve always wanted to learn german)
After working out I could take the long way home (bus) and eat what I brought beforehand. Then I wouldnāt have the possibility to satisfy my instant desire and I would no longer be hungry when I arrived at home.
By making my money not instantly available (putting it into stocks, crypto, index funds or putting it into an account that has a time-delayed withdrawal mechanism) I could force my spending to be more carefully thought out. When you have less money available you naturally tend to consider your purchases more carefully.
Setting my alarm 15 min earlier in the morning would give me 15 min less sleep but I would be more alert and ready to face the world when exiting the house.
One habit that i would like to cut back on is eating out. Iāve noticed that eating out a lot has put a nice size dent in my pockets.
Iām pretty disciplined, I eat healthy, cook my own food, sleep at usually the same time every night, exerciseā¦I would say maybe going to sleep 30 minutes earlier and waking up earlierā¦
Giving up times on social media and spending it back into my studiing would be a good strategy
To spend at least half an hour every day on this academy no matter what.
This one is easy. I could change my habit of buying an average 2-3 cafe coffees per day. This is a classic case of high time preference for instant gratification. I could allow myself one on a Saturday, this would delay the gratification and would also have longer effects for further low time preference options
Example:
Delayed Gratification: Invest time and resources in studying and understanding blockchain & digital assets comprehensively in order to benefit from the transformation that will occur once the innovation is mainstream.
Instant Gratification: Forgoing some leisure time (watching movies, frequenting restaurants and other regular hobbies) to achieve this goal.
I could drink less soda and more water. I drink soda quickly and often, getting that snap of enjoyment. Water is more slow and deliberate, more patient.
I employed a strategy quite some time ago that involves delayed purchase decision making. When I find something that I want(not need), I give myself a 14-30 day window prior to purchasing to ensure I still want it. As a result, I typically only buy approximately 10% of the things I consider which significantly increases my ability to invest more meanwhile having less unnecessary, depreciating items around.
A change I could make to one of my habits that would reduce my time preference from instant gratification to delayed gratification, that I am currently attempting to make, is to not settle for the lie that it is too late for a career change - but to invest in the time and resources necessary to learn and grow towards achieving a more rewarding direction in the long term.
I sometimes eat when Iām bored. Even though I exercise a lot, I could be much leaner physically. Channeling that boredom into more productive activities like studying or exercising even more would be a good first step to resolving both goals of ābeing leanerā and learning blockchain development. Both of those goals require a ālong viewā and therefore a low time preference.
German is great. Iāve been learning German for a little while now. (Which is really funny since Iāve been living in Germany for 11 years now, hehe )
Propose a change you could make to one of your habits, that would reduce your time preference from high (instant gratification) to low (delayed gratification) time preference. It could relate to any aspect of your life (financial, diet, exercise, relationships or education).
A change that I could make would be to opt for a more casual weekend dinner setting. It has become a habit for me and my significant other to have dinner a fancy restaurant since we feel that we merit the experience from having worked all week. We will be able to save more money and we can also have more conversations about planning for the future
Propose a change you could make to one of your habits, that would reduce your time preference from high (instant gratification) to low (delayed gratification) time preference. It could relate to any aspect of your life (financial, diet, exercise, relationships or education).
I am doing it right now actually. Due to covid my branche of work is closed and instead of playing Xbox all day I decided to educate myself because I realised that this time is the best opportunity in my lifetime. So I started reading books, read articles, documentaries and watched content on Youtube. All because I want to grow financially and mentally so I can have a better future for myself and my family and hopefully maybe changes other peoples lives to. You got to start somewhere or else you get nowhere.
I would make my own food recipes . to avoid restaurant food will be more healthy . will save money.
Oh man i could propose so many different changes that would move me away from high time preference and i really like how they delivered the message on this topic. Yet I will only hit on the one that has the biggest hit on my life. SMOKING!!! These god awful things are not only killing me, do me no good, and cost me at least $10 a day. Thatās $10 a day straight into the trash really,⦠or better yet letās look at it this wayā¦$10/day⦠$70/week⦠$3,650/year at least. Thatās not even considering the dental costs for yellowing of the teeth or the medical costs that will incur here shortly. WHY? All because I donāt have the psychological maturity to handle the cravings? Thatās the truth. I canāt blame it on the environment or social circles. I am suppose to be in charge of my actions and well after writing this all out,⦠Iām pretty horrified. I could put a nice down payment on another home after 2years of not spending money on cigarettes. Maybe its time to quit and take action.
My proposed plan is to go to bed earlier allowing me to to wake up earlier to workout, meditate and do more courses before i have to start the day.