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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Pauline Stockhausen: Social Media Your Money

Social media and your money?  Oh yeah!  They are connected.  Today we talk to social media expert, Pauline Stockhausen, who shares her money story and how she uses social media the smart way.

Pauline Stockhausen
Pauline Stockhausen: Social Media & Your Money

We discuss:

  • How meeting a minimalist impacted her entire family.
  • How she moved from a large 5 bedroom home to a 2 bedroom and the change that has made on her family & perspective.
  • Pauline describes how being “house poor” has added so much stress and what that felt like to eliminate it.
  • In just a few quick months they’ve been able to pay off $10K
  • That six month rush of working to pay off the debt…then fall off the plan of discipline.
  • “The poor mentality,” how people struggle and buy more than they can afford to keep them in a poor situation.
  • “Saying no I don’t need that was really hard!”
  • I stopped shopping to avoid the temptations.
  • When you do a budget, you think you are going to miss out on stuff…Being broke has been such a great thing for our family because we’ve been together on the beach, swimming in the ocean.  It’s like we have a more fulfilling life when we’re poor.
  • You have money and you spend it, or you realize that it’s a tool and a budget helps you align your priorities and spend your time on a more fulfilling life.
  • As a social media expert, Pauline shares how she stays positive while being online several hours a day.
  • Social media can be a lot of drama, watch how you spend your time in groups.
  • An influencer is someone who leads online.  It’s not about the number of followers, it’s about the person who helps you do better.
  • Finding influencers online who speak to you directly.
  • A great social media influencer is like “A snapshot of bliss.”
  • Process and appreciate what we have learned in life.
  • Social media makes everything more accessible.
  • How we met online and became fast friends (it wasn’t a woo-woo moment, either.)
  • Take those online relationships and make them real life relationships.
  • The key is to be 100% genuinely YOU.  That’s the entire secret.
  • Follow the people who are doing what you want to be doing.
  • The curvy woman’s fashion show in New Zealand…how Pauline learned to walk the runway.
  • “Just because you’re a bigger woman doesn’t mean your life ends.”
  • Decide what you want to achieve online, or ask yourself, “Who do you want to connect with?”
  • Look at the messages on your newsfeed, is it positive?  A quick unfollow made a big difference.
  • Clearing that space gives you space & time to move forward.

You know about the Think Enriched Crew, but are you in yet?

Subscribe in iTunes.  Or Stitcher Radio.

Rate & Review the show.

Have a question.  Send me an email: