What is an efficient life? What is efficiency for that matter? We’ll start with defining our term. Efficiency is any system designed to achieve maximum productivity with minimal waste or expense. And this has truly become the thesis for Simple Economist. An efficient life is one lived without wasted time, money, or resources. It is a life where the unnecessary has been removed and only the useful remains. It is a life in which we understand what brings us true satisfaction and we are actively pursuing it. It is about knowledge, self control and behavior. By applying the principles defined in economics, we can leverage efficiency to live a fulfilling, productive, relaxing, and awesome life.
The post is designed to be an evergreen post with further reading in almost every category. I’ve listed 9 practical areas in our lives where inefficiency tends to creep in over time. Areas where we end up wasting time, energy, money, or resources due to disorganization and poor planning. I’ll be the first to admit that I am not always productive as I wish. I still waste more than I should. I’m only slowly becoming aware of when I’m being efficient and when I’m not. And we must be careful because inefficiency is quite profitable for others. McDonald’s and Visa know this. Marketers are fully aware that we live inefficient lives and are often there to fill in the gaps. If we take the time, we can utilize the knowledge and resources we have developed to live awesome, exciting, efficient, waste free lives. Continue reading Live an Efficient Life: A Life Without Waste