Thoughts on Personal Finance for Effective Altruists

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@ref:: Thoughts on Personal Finance for Effective Altruists
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2023-01-29 forum.effectivealtruism.org - Thoughts on Personal Finance for Effective Altruists

Book cover of "Thoughts on Personal Finance for Effective Altruists"

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This means that the more niche your topic is, the more money you (or your employer) should be willing to spend to save time.
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As a child, you usually have access to very little money but a lot of time. Therefore, at this stage in life, the little pocket money you have saved has a higher significance than wasting time. Once you get older you probably have more money available but also more responsibilities and thus less time. As most adults, on average, accumulate more wealth over their lifetime the utility of money decreases over time where, in contrast, available time decreases, its value increases. Since most adults complain that they don't have enough time to do everything they would want to do there has to be a point between childhood and later adulthood where the value of time becomes larger than that of money.
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- [note::Like how logically the concept of value of time v.s. money is layed out here.]

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Investing time to find out what type of sleeper you are and, therefore, what kind of equipment you need probably pays off multiple times. Using technology like meditation apps to calm down before sleep or sleep-tracking devices can give you insight into your sleep patterns
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Making this experience as productive as possible and reducing the possibility of long-term injuries is key to a sustainable solution. If you are susceptible to back pain or see a risk of a back injury in the future get a good chair. If you are susceptible to wrist pain invest in an ergonomic mouse and keyboard. If you are unable to sit for a long time invest in a desk that is adjustable for height. Under any circumstance get noise-canceling headphones - they are great.
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Furthermore, you should talk to someone who has chronic back pain from bad equipment to make the abstract harm of "chronic pain" salient to your monkey brain. Once you hear an account of what chronic pain actually entails you will probably rush to the next furniture store.
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Looking back, I was much too cautious with my spending and have kept an "I can do without these fancy gadgets"-mentality for far too long. By now I try to do back-of-the-envelope calculations for all larger spending and realized that I should have been more risk-taking all along. Even if the 50€ invested in a daylight lamp turns out not to have any effect on your productivity, they are still worth in expectation.
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In my quest to maximize efficiency I have used a barely working phone for a long time to maximize its cost-effectiveness or slept in an eight-bed hostel room instead of paying a premium and actually getting some quality sleep that night. While this saves money, it maximizes the wrong notion of effectiveness. I should rather have spent money to remove the annoyance of a broken phone that turns itself off and on all the time or improved my well-being the day after the night in the hostel by getting the better room. While this was well-intentioned at the time, as saving money means more potential donations, I was following a suboptimal strategy for the reasons outlined above.
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- [note::I am guilty of this. Though, I think this line of thinking makes it very easy to justify opulence. There's a very gray line here.]