How Parkinson's Law WRECKS Your BUDGET (And How to Fix It)

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How Parkinson's Law Can Wreck Your Budget (And How to Fix It) | The Importance of Financial Urgency:
Today we discuss how Parkinson's Law relates to the world of personal finance, it's effect on our budgets, and how to break free from the traps presented by it.
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[@smallmj2886]

I find that the key is to save off the top instead of off the bottom. If I invest automatically as soon as the paycheque comes in then I can be consistent. If I saved/invested the leftovers then there would be little left over.

[@robmckee5295]

Good ol' "pay yourself first."

[@NextLevelLife]

That's an excellent approach! Hard to beat paying yourself first :)

[@tomTom-lb5cu]

I started saving for retirement at age 25. Not with the idea of retirement at my full ss mandated age of 66 1/3 or whatever, but I wanted to be retired from 9-5 and retired from taking orders from a boss forever at the age of 50 or less. That’s what made me a prodigious investor not a all star person but a ridiculously dedicated investor and it didn’t take away from my family because I would do side hustles of all kinds to reach my goal. So it definitely helped me at a young age think of “ retirement “ on my terms. I think what discourages young people is thinking retirement and an old feeble person sitting in a rocking chair waiting to expire.

[@OnCashFlow]

My discretionary spending expands quickly to fill whatever I sent it at. 10 years ago I was more frugal and budgeted only $50/mo discretionary spending. Today it is $300/mo and wouldn't you know it. Both of them fill up before the month ends haha.

[@70qq]

ty

[@NextLevelLife]

Sure thing!

[@mva6213]

louder please

[@arh1234]

First!😁