I’ve been trying to implement a rule in my household with my kids which I first came across on episode 390 of ‘The One Thing’ podcast, “Powerful Wealth Habits to Build Your Someday with Brett Tanner” (starting at 22:30).
In the episode, Brett talks about a simple concept to balance your consumption.
P.S. This is not Brett Tanner.
The E:E Ratio.
That’s an Education to Entertainment ratio where any time you want to spend on Entertainment, should be earned/offset with time spent on Education.
Want to spend an hour watching Netflix? Earn it by reading for an hour.
Want to game online with friends tonight? Tomorrow you have to take that online course you’ve been putting off for so long.
It’s not essential to have a 1:1 ratio or all times or even to have extra weight on the Education side, but when there is too much weight on the Entertainment side we should aim to put in some measures to try and rebalance things.
The two sides of the ratio may be different for you.
- Education : Entertinament
- Creation : Consumtion
- Saving : Spending
- Fruit and Veg : Chocolate
The goal here is to keep a balance between the sacrifices you make to achieve the things you desire.
Until next time.