Bonus Bits – Week of 11/29/21
Good morning! Here are this week’s bonus tips and nuggets from around the community. To get these every day in your inbox, sign up to our daily newsletter where you’ll see these faster, as well as our top 3 curated articles every day!
👉 The origin of the 40 hour work week
In 1926, Henry Ford instituted the 40-hour workweek at the Ford assembly line. His main objective was to sell more to his Ford employees. He said that if his employees had weekends, where they could have leisure time, they’d want to make the most out of their weekend. They wouldn’t use the horse and buggy; they’d use a car. This concept worked, and he sold thousands of vehicles to his own employees due to that decision. This is why we see the 40-hour workweek as the norm in America.
👉 New book on the scene: “How I Lost Money in Real Estate Before It Was Fashionable: A Cautionary Tale” by JL Collins
This is a very visual book. It is the painful tale of my very first real estate purchase and how it morphed into an even worse real estate investment. It is a litany of almost all the mistakes one can make, and how I made them. It is a tale of woe that only decades later was I able to see the vast humor in, and the vast education it provided. Hopefully you’ll find it humorous, engaging and instructive. It is certainly brilliantly illustrated by Nikolett.
👉 On Buying Stuff:
A rule of thumb I’ve found to be useful when deciding whether or not I should buy something I’ve been going back and forth on is asking myself whether the object in question helps me create or consume.
If the former, it’s more likely to serve me as an asset, but if the latter, it’s more likely to pull me away from the things I’m actually keen to do and thus might become a liability: something that pulls me away from the creative work I’d prefer to prioritize.
👉 An effective tip for boosting happiness:
A decade ago I started a project where I took two empty jars, and put “good moments” in one jar, and “bad moments” in another jar.
I repeated this exercise for a few years, then in 2017, to be more practical, I decided to dedicate a notebook to this purpose, and to only include good moments. I started with “3 good things that happened today”. If you’re ever feeling down at some point in your life, I encourage you to try this for a few weeks. It’s free, and the results may surprise you.
For example, I learnt that most moments that brought me joy were shared with friends or family. This surprised me because I’m a huge nerd, and one of the most introverted people you’d ever meet! So now I know that when I’m feeling down, I should reach out to a friend or favorite family member and things will get better.
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