This past year I made the choice to upgrade my travel tea set from the red dragon porcelain to a titanium set. Although I loved the old cups, the cups were extremely small, and porcelain is prone to breaking. Not to mention, the heat transfer through the porcelain was high enough that I often risked burning my fingers when pouring the tea.
This week I thought I’d switch it up and share some musings from author Colin Wright on planning for the future. While his thoughts don’t entirely mimic my own, his thoughts on the value of preparation are especially well put.
Today marks the end of finals week for the winter quarter at UChicago. While it is always a very busy time, it is actually one of my favorite periods of the year, mainly for the peaceful break that follows each term.
Many of the most valuable lessons from my time at the University of Chicago come from a class I took this semester called “Economics for Everyone” taught by Steven Levitt and John List. One of these lessons was Levitt’s 6 tips for a strong personal finance strategy.
In my economics class this quarter, my professor has often stressed to us the power of defaults. The basic idea is similar to inertia: set people on a path, and they will continue on it. This has far-reaching consequences in various realms such as financial policies, legal decisions, and business plans. However, you can also use it to improve your social life.