Time saving tip: when watching informative youtube channels, change speed settings to 1.25 or 1.5. Add closed captioning to add the reading modality to the input. You can always replay a section, but at 1.5x, you just saved 1/3 of your time!
That’s the way I listen to all my podcasts.
I am a big sports gambler. Fantasy Football, DFS, and betting with my local bookie. While it can be fun while you win, it’s costing me a lot of money over time. I added up my last year’s worth of gambling expenses from my bookie alone, and I am down over 2k just from sports bets. I am going to sever ties with this platform, and try to invest instead of gamble. Some gambles are worth it but I realized that my tendencies are bordering on destructive.
Wow. I meditiated and thought about this task for a few minutes, was going to skip it but i realised, THIS IS ESSENTIAL.
I , now looking back on the past week, am wasting my time on my laptop searching for things which “appear useful” but do not get me closer to my goals. Its almost a form of mental masturbation if you will call it that - getting excited about something but not achieving anything. Searching facebook compulsively 20 times a day for a quick 2 minute burst of dopamine. Checking out new bitcoin news when i have actual work to do if not ill be behind. I must say im thankful for this opportunity to write down what im wasting my time on and ill need to edit this as the weeks go by. I think i plan to spend no more than 3 hours in a whole day on my laptop. It might be hard idk but there will be great potential for growth. I can feel it burning from my heart.
2- Im not sure who i am gonna tell. I might tell a friend who is online but not sure if i should tell someone i know in real life - like family. As im writing this ive told my friend already.
I think this is an important distinction between what separates really successful people with the general public. It’s something I’ve been doing for a while but my distractions have changed now. I used to spend a lot of time playing video games, playing poker and watching football. I’ve always avoided TV as I think it erodes your brain, I think you’re too passive while watching TV and very susceptible to manipulation/propaganda. I was making small amounts of money playing poker but my average wage was below the minimum wage, however, I usually enjoyed playing it.
After getting frustrated with the same routines I moved to South America, decided to learn Spanish and travel. I’ve started playing guitar again, building a website, meeting interesting people, playing football instead of just watching it and now all things cryptocurrency related. The problem I have now is I spend too much time looking at charts and watching people on youtube (sorry Peter but I used to watch your bitesize bitcoin videos, really enjoyed them for the most part, but they were just too long and I’ve had to cut them out, the decentralized TV format is much better though
So I will write down what I do today and see how it goes, I usually keep a diary but I’m going to include timings, a friend of mine told me that this was an important thing to do when working for yourself, however, I never got round to doing it until now. I’ve spoken to my flatmate who is also investing in cryptocurrencies right now and we have set alerts for bitcoin on our blockfolio apps as we are looking to buy in with more fiat below $10k. Here’s hoping that happens.
Wastage - What do I waste my time doing?
- Worrying about things that would have been. I need to change this to “here and now”.
- Netflix - spend way too much time watching netflix.
- Computer games - too much time wastage. Not helping. Since I have found crypto my game time has dramatically reduced because I am more interested in learning about how to trade and learn more about Crypto. Its good to have my brain focused and engaged in somethign that will provide me benefits. I like crypto more than gaming.
I think these are the main culprits for me.
My biggest form of wastage occurs when I over-follow a topic. Most of the time these topics relate to my finances with the key culprit being several equities I own. Because they represent a disproportionate share of my portfolio, the time suck is even more intensified. At EOD on max wastage days, I look back on my behavior and see it was pointless, with the majority of effort clearly not effecting the outcome of these long term holds… nothing new learned. By vocalizing this pattern, I have taken the first step at breaking it!
I would watch a lot of TV. I have cut out the TV and watching TV on the internet by 80% and it has helped me focus on different things I want to do in my life…
day trading seems to be a waste of my time and money.
It usually is. Unless you’re a skilled ninja.
Day 5… Biggest waste of my time would hve to be the many visitors i get a day…not cause I don’t enjoy the kids playing together or supporting or being an ear for a friend or even catching up with friends or family but cse i then sit down and before i no it hours have passed…house works not done or kids have trashed house again and im then cleaning and cooking in times could be investing… Also I love online shopping can spend hours on sites buying stuff or just looking. must admit I hve been up till 12 1 and 2am studying crypto last week or so instead of shopping so that’s great and my circle of friends and family are ova hearing bout crypto …my sister txts me now that she’ll ring me in a sec but shes not talking coins LMAO
Look forward to this challenge
Our time is our most precious resource… use it wisely!
to be honest this one is a very hard one for me as i already have a journal that i plan the 1st of the month every month in advance and obviously add to it regularly when things come up, ive been doing this from jan 2017 and its crazy when you get in to how much time you waste, this made me 100x more productive, adding to my journal 3 times a week 1hr to research a topic i am interested in. Do the journal guys its an eye opener.
Right now I am finishing up a school that is taking up most of my day, with an internship starting up on Monday along with 2 clients. Still get my daily workout in. Then find time to study this week. Here is an example of 1 day out of the week. I hope it can help you all out to fill up your entire day. So my challenge was to lose 1 hour of sleep a day. Normally I get up at 4am anyways that nothing new. I am more focused to study in he morning before class.
My biggest challenge is the evenings. Being productive in relaxation. Sounds crazy right? I need to get stuff done, clean up a room in the house, get my bag ready for the next day, clothes etc. I waste too much time thinking about lunch, repacking a bag. Writing out a clearer schedule. Lastly I got a Journal, setting weekly, and daily goals for myself. More importantly a DEADLINE (if all goes well I am my goal is not to far in the future) So that I am making steps to the moon each waking moment. In the process, I actually figured out my WHY! So amazing right? It fells really good. A REAL WHY not the one you know your supposed to have. The one that truly gets me excited to think about. I know this is direction I am supposed to be facing. I can feel it. I will share a copy of one of my days. I’m enjoying this community more and more each day.
Although with entry into Crypto space, I have left tv, excess use of social media and a lot of activities.
But I want to decrease my sleeping hours as it takes a lot of my 24hr time and can be used productively on learning about crypto.
I will think on this every day now and will note more of what is wasting my time and worth eliminating from my day.
I will tell my dear friend to wake me up early so that i can reduce my sleep to 5 or max 6 hrs.
A Memento Mori chart like the one you linked to is what I need,I spend to much time looking to see what my portfolio is doing and reading about the latest greatest coin which many times leads to FOMO.
Oh and @sharmarohan958 never decrease sleeping hours for any reason,you will make worse decisions,pick up weight etc. Not a good thing to cut back on.
I was addicted to social media and politics for years. Then a month ago I bought my first Bitcoin and alt coins and made a bold move and got lucky. Ever since I’ve eliminated Facebook and politics from my life and it’s been great. The only thing that worries me is I’m obsessed with my cryptos instead. I think my obsession might detract from my success because I have too much anxiety even though I’m doing well and should be happier than I am. I’ve also realized I have to eliminate a certain person in my life who is trying to get in my head about this because he doesn’t have the guts to do what I’m doing and he’s jealous. Sorry, I know that’s a little personal and vain perhaps but I believe in this process.
Oh yes, it’s awesome, a great reminder, I have mine posted on the wall besides my computer, that way, I always have it in my sidevision ;D
Stay the course. It’ll be worth it!
This year I plan to get my online shit under control. I have a few Subscriptions I can do without.
The money I save there could be a hundred a month. It isn’t much but could help in my DCA efforts.