Staying the course

When I thought of today’s post, I immediately thought of the following song from Billy Ocean. I have included it here for your viewing pleasure. There’s even a saxophone solo! Classic 😉

So I have to admit that I have my fair share of doubts and frustration on this journey. And it’s only just started. I’m (unfortunately) in for the long haul.

I listened to a summary of a book called the ‘Compound Effect’.

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The concept is simple: small actions day after day are incredibly powerful . However, the frustrating thing is that, at the time, these actions don’t seem to make a big difference.

How this concept works

Let’s take the following example.

I have been learning to touch type. I am still not very accurate and quite slow compared to my usual two hands random typing style and looking at my fingers as I type; I have been used to this for the last ten years. Although in the short term I know I will be frustratingly and painfully slow, the logical step would be to stop looking at my fingers altogether and touch-type this.

In the short term, it is so much easier to look at what I am doing.

In the long term, it makes so much more sense to touch type.

Which option will I choose?

The more I type with the correct fingers, the better I will get, one paragraph at a time…

Applying the compound effect

Budgeting, expenses tracking, saving every month, investing every month: all these actions are hard to apply consistently. They are also painstakingly medium term/ long term actions. Tomorrow is not the day I will see 5 digit figures in my bank account, let alone 7.

However, it is the sum of all those months tracking expenses, budgeting, saving and investing that will in time make the biggest difference (alongside a higher income).

By devising motivating milestones and laser focus, we can celebrate the little victories along the way. 1% more saved every month doesn’t seem like much. But over the course of 2 years you could be saving a quarter of your income.

If you are wondering, in the end I did look whilst typing. However I forced myself to use the correct fingers for the letters every time rather than my own ‘freestyle’.

To conclude: Stay the course! All the things you are doing now matter. One day at a time.

I am officially at 0.05% of my objective (£500). Never know, 0.1% by Christmas?

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