Wellness Wednesday 5: The Compound Effect
Mark and E-liz discuss what compounding is and how you can use it to reach any goal in life. They also discuss a few of their goals and Mark gives an update on his "fun" procedure from last week.
Mark and E-liz discuss what compounding is what does the compound effect mean: a strategy of reaping huge rewards from small, seemingly insignificant actions.
They discuss how small decisions add up over time and how they use this process in their day to day life - hint: E-liz cooks at home a lot
"Compound Interest is the 8th wonder of the world. He who understands it, earns it; he who doesn't, pays it." - Albert Einstein
The Compound Effect Steps to Reach Any Goal:
1. Set and prioritize your goals
- ask: What do you want to accomplish in the end?
- Ex: E-liz' house hunt - she's trying to bag a trophy house but she's finding it much harder than deer hunting
or Mark's exercise & nutrition goals
2. Write down all tasks necessary for achieving that goal
- ask: What would it take to...
- Ex: ...run/jog 1 mile without stopping? ...save up money for an emergency fund or to buy a house? ...lose 10lbs? ...start a 401k?
3. Register what you are doing throughout the day and plan your tasks
- ask: Does this activity/choice help me accomplish my goal? Or not?
- Ex: That $5 coffee once a week adds up to $260 a year - could that money be better spent? also discussed: walking 10min at a time vs tv watching and breaking up a task into more manageable pieces to more easily achieve it.
4. Monitor your Progress
- ask: how can i better monitor this task to hit daily and weekly goals?
- Ex: Financial goals - look at your weekly spending to make sure you are moving towards creating an emergency fund
Fitness goals - log your 10min walks (or any other activity you do like pushups etc) to make sure you hit your weekly baby step goal
Nutritional goals - log what foods you ate. Ask were my food choices today better than yesterday - and will my choices tomorrow be
better than today? Am I feeding myself what my body needs for fuel and building muscle?
5. The Secret Ingredient
- ask: Am i being steady and consistent? or do i give up too easily?
- Remember: "Slow and Steady wins the race"
And finally, Mark wraps up with an update on his "fun" procedure from last week.
They discuss how small decisions add up over time and how they use this process in their day to day life - hint: E-liz cooks at home a lot
"Compound Interest is the 8th wonder of the world. He who understands it, earns it; he who doesn't, pays it." - Albert Einstein
The Compound Effect Steps to Reach Any Goal:
1. Set and prioritize your goals
- ask: What do you want to accomplish in the end?
- Ex: E-liz' house hunt - she's trying to bag a trophy house but she's finding it much harder than deer hunting
or Mark's exercise & nutrition goals
2. Write down all tasks necessary for achieving that goal
- ask: What would it take to...
- Ex: ...run/jog 1 mile without stopping? ...save up money for an emergency fund or to buy a house? ...lose 10lbs? ...start a 401k?
3. Register what you are doing throughout the day and plan your tasks
- ask: Does this activity/choice help me accomplish my goal? Or not?
- Ex: That $5 coffee once a week adds up to $260 a year - could that money be better spent? also discussed: walking 10min at a time vs tv watching and breaking up a task into more manageable pieces to more easily achieve it.
4. Monitor your Progress
- ask: how can i better monitor this task to hit daily and weekly goals?
- Ex: Financial goals - look at your weekly spending to make sure you are moving towards creating an emergency fund
Fitness goals - log your 10min walks (or any other activity you do like pushups etc) to make sure you hit your weekly baby step goal
Nutritional goals - log what foods you ate. Ask were my food choices today better than yesterday - and will my choices tomorrow be
better than today? Am I feeding myself what my body needs for fuel and building muscle?
5. The Secret Ingredient
- ask: Am i being steady and consistent? or do i give up too easily?
- Remember: "Slow and Steady wins the race"
And finally, Mark wraps up with an update on his "fun" procedure from last week.
