B1 L50 – 20/80 Principle

It is hard to believe, but often doing only a few things can eliminate hordes of problems. It all has to do with a basic economic principle, though. This rule, called the 20/80 principle, is quite old, beginning all the way back in the early 1800s. Frequently called the Pareto Principle, 20/80 is an economic theory named after its creator, Vilfredo Pareto, in the year … Continue reading B1 L50 – 20/80 Principle

E1 L45 – Key Points in Keller’s Autobiography

Everyone knows who Helen Keller was; her problems, as well as her accomplishments, are famous around the world. In The Story of My Life, her autobiography, she outlines the breakthroughs as she remembers them. A couple of these include the w-a-t-e-r episode, the beads connection, and Dr. Graham Bell.    The first incident to set her free was the referral to Alexander Graham Bell. At that time, … Continue reading E1 L45 – Key Points in Keller’s Autobiography

B1 L45 – Buying Depreciating Items on Loan

When people run out of money, one of the first places they go is the bank. The bank is happy to hand out a loan, on their terms. Sometimes the money is well spent, other times it isn’t. Most people pay off their debts over the years, while others just decide to default and lose their credit score. However, the one thing most people don’t … Continue reading B1 L45 – Buying Depreciating Items on Loan

B1 L40 – 10% Savings

 The book Richest Man in Babylon teaches the management of money. The most prominent rule that it states is “10% of what I earn is mine to save.” That statement is closely followed by “Our expenses will grow to match our incomes unless we protest to the contrary.”    In short, this means to cut back on expenses as a way to save for later. That … Continue reading B1 L40 – 10% Savings