Named after Italian economist Vilfredo Pareto, the Pareto principle broadly states 80% of the results come from 20% of the effort.
When it comes to your finances, do you know what that 20% is?
For example, is it a better use of your time to track all your expenses or sort out your 401(k) / superannuation?
📝 Track expenses vs 📈 401(k) / superannuation – an hour each week reviewing your expenses to shave off a few dollars here and there vs a few hours a year to potentially earn thousands of dollars
Do you save more money by cutting your takeaway coffee consumption or asking for lower home loan rate?
☕️ Coffee vs 🏡 home loan – save $3 x 365 = $1,095 each year vs a phone call / email to save 0.1% which could be worth thousands of dollars (depending on mortgage size)