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Just my thoughts #0629

Time Preference. It is a phenomenon where the more distant a result is from the present, the more rational decisions seem, while closer results tend to lead to more emotional choices. When thinking about the distant future, we usually approach it rationally. However, when making decisions right now, we often act emotionally instead of rationally. This time preference significantly impacts areas such as finances, health, work, sleep, procrastination, and texting. For example, dieting is hard when delicious food is right in front of you; people often say it starts tomorrow, not today, because weight loss doesn’t happen overnight but over weeks or months. - Joseph’s “just my thoughts”
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Just my thoughts #0137

From a financial system perspective, there are two ways of doing business. Some people try to make money by earning money, and others try to earn money by making money. It's like a pun, but its meaning and value greatly differ. It's a concept that takes work to understand.


- Joseph’s “just my thoughts”




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