The 80/20 rule in money & relationships

The 80/20 rule has impacted businesses, financial growth and organizations around the globe.  That is, that 80% of your revenue comes from  20% of your work force.  When you focus on what’s working you have even more success in business.  But what about your daily life?

Have you considered how the 80/20 rule works in your life?  Are you spending your money in the way you want?  And, perhaps more importantly, are  you spending your time with the people you want?

80-20 Rule in Money & Relationships
80-20 Rule in Money & Relationships

Let’s evaluate the 80/20 rule in our own lives.

In this podcast episode we discuss:

  • The Pareto Principle, or the 80/20 rule.
  • Defining the 20/30/50 rule.
    • 50% of your income goes to the fixed costs: rent, utilities, food (groceries), and clothes
    • 20% goes to the future costs:  pay off debt, investments, savings, emergency fund and retirement.
    • 30% fun costs:  (lifestyle) cell phone, cable, internet, movie nights, date nights, gym memberships, travel
  • February’s challenge is about relationships.  The way we build relationships is shown by how we spend our time.
  • 80% of our time is spent with people you have to spend time with (co-workers, classmates)
  • 20% of our time is spent with people you choose to spend time with (how are we showing our loved ones)
  • How are you spending 20%of your time that you want to spend time with?

How do you Think Enriched

  • What does it mean to Think Enriched?  It’s not all puppy dogs and rainbows.  
  • To Think Enriched is not naive positivity.  It is not blind faith.
  • Find ways to spend just 10% focusing on the problems and challenges that you face regularly and 90% of the time figuring out solutions.

Resources mentioned in this episode:

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