“You are the economist of what matters to you.”
This quote is from Danielle LaPorte’s Burning Question of the week. As an aspiring economist, it really stood out for me. An economist is an expert in economics and economics is the study of allocating scarce resources. Being an expert personal economist would then mean that you’re great at allocating your scarce personal resources. Interesting in tons of ways – which I’ll probably blog about later – but the Burning Question is about your purpose for money.
My current purposes are the same as my two savings goals: grad school and travel. My purpose for money is (broadly) to live a life I love. I love economics and school so grad school is pretty obvious. I also really enjoy travelling and I honestly don’t do enough of it, so I’ll be fixing that in August when I jet off to Europe before school starts up in September.
Part of being an economist of what matters to you is correctly identifying what matters to you and how you can fill your life with it. That’s when you’ll be allocating your scarce financial resources as best you can. Let ‘it fulfills me’ be a reason to allocate resources to a certain part of your life, even if it doesn’t seem to be the most practical. Leading a happy and fulfilling life is a priority so go out there and allocate those resources accordingly!
Tags: economics, money, personal life, purpose
“Let ‘it fulfills me’ be a reason to allocate resources to a certain part of your life”.
Love this – it would be a good phrase to remember when making any kind of decision, “does it fulfil me?”.
mj.x
It’s definitely the right question to ask! I’m going to be keeping it in the forefront of my mind when decisions come up, because I so often don’t think of decisions in those terms.
Thanks for stopping by