If you’re poor, should you spend money on lifelong learning?
Yes. Set aside a budget for self-education—a percentage of your income dedicated to buying books, enrolling in online courses, or hiring a coach.
How much should you spend?
Start by calculating how much you spend on entertainment. Think about movies, streaming subscriptions, gaming, junk food, or sweet drinks.
Then surpass that amount.
From my experience, this is a powerful psychological strategy. By doing this, you reinforce the principle that you prioritise learning over entertainment.
But why spend money when there’s so much free content online?
Nassim Taleb explains this concept in Skin in the Game.1See Taleb, N. N. (2018). Skin in the game: Hidden asymmetries in daily life. Random House. (Taleb’s website) When you have something at stake—like your money—you take it more seriously.2This is related to the general idea of sacrifice. See The Sacrifice: Lessons from Prophet Ibrahim for Young Adults
You pay more attention.
You commit.
This approach works even better if you’re poor.
When you don’t have much money to spare, spending on learning becomes emotionally significant. It reinforces your high-performance mindset, both emotionally and neurologically.
As you learn more and earn more, increase your investment in self-education until you feel a slight pinch. This way, you maintain the emotional significance of investing in yourself.
Start this strategy today.
Calculate how much you’ve spent on entertainment this past year. Divide by 12 to get a rough estimate of your monthly budget. Be honest with yourself.3Also, be honest about how much you’re affected by adverts in spending.This kills two birds with one stone: You increase your learning investment and cut down unnecessary entertainment expenses. See Adverts, Gruen Transfer and Being a Better Thinker
Commit to surpassing that amount with your learning budget starting tomorrow.
Have that skin in the game; train your mind that you are indeed someone who prioritises lifelong learning over fleeting entertainment.
And your life will transform accordingly.
Notes:
- 1See Taleb, N. N. (2018). Skin in the game: Hidden asymmetries in daily life. Random House. (Taleb’s website)
- 2This is related to the general idea of sacrifice. See The Sacrifice: Lessons from Prophet Ibrahim for Young Adults
- 3Also, be honest about how much you’re affected by adverts in spending.This kills two birds with one stone: You increase your learning investment and cut down unnecessary entertainment expenses. See Adverts, Gruen Transfer and Being a Better Thinker