Dec 04, 2019

The 80/20 rule sounds like a mathematical formula and in some ways it is but don’t fret, this isn’t a lesson on statistics. The rule came from an Italian economist, Vilfredo Pareto, who stated that 80% of the Italian income was earned by 20% of the Italian population.

What this means is that 80% of your outcomes come from 20% of your inputs. To put this another way, 20% of your activities equate to 80% of your happiness. Instead of focusing on income, we will focus on your overall well being or happiness factor.

To prove this theory, look at the distribution of wealth and lately with the shrinking of the middle class, this is even more apparent that a small portion of the population controls the majority of the economy. Look at business, the top earners are a small percentage of companies and earn the largest portion of income. And if you look at your own habits, you most likely spend most of your income on few things like your mortgage, car...

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