The minimum wage is a contentious topic. Depending on what you believe, you can think one of many things about it. You might think it’s too low and hasn’t kept up with inflation. You might think that it’s too high, preventing inexperienced workers from entering the job market.
However you think about it, I think we can agree it’s something we have no direct control over. Neither you nor I can decide to raise or lower the minimum wage by ourselves.
But what we can do immediately is give ourselves a promotion.
Here's what I mean:
People say time is the most valuable resource in the world. Which makes sense because you can spend money and get it back, but you can't spend time and get it back.
But the problem is that our actions don't align with that belief. For myself, I waste too much time watching meaningless YouTube videos. One second I'm watching a comedy skit about J. Cole and the next thing I know, I'm learning how to make cinnamon rolls. Or I waste too much time getting frustrated with my siblings.
One solution is to give yourself a high hourly rate1. Now, “learning” how to make cinnamon rolls on YouTube costs me $300. Not worth it. Arguing with my siblings about who has to clean the dishes costs $25.
One caveat though — know when to turn off this hourly rate. In other words, know when to clock out. Doing the dishes for my siblings might cost $100, more than arguing with them for $25, but it’s an act of kindness. Arguing isn’t.
If you don’t think you’re accurately valuing your time, give yourself an absurdly high hourly rate, but know when to clock out.
In my personal experience of about two months, I have wasted less time on Instagram and YouTube. That’s partly because of my hourly rate but also because of a mindset shift that I’m currently a time billionaire2 and I want to make full use of that. Maybe I’ll write more about that in the future :)
Over & Under
Here, I bring up things that are over or undervalued (in my opinion of course).
Overvalued - Perfect Morning Routines
I’ve kind of fell into this trap, that I need the best morning routine. But I’m reminding myself that the best morning routine is the one I can realistically commit to doing. So right now, I have a short and sweet morning routine of about 40 minutes that includes meditation, morning pages, and static exercises. Feel free to share your morning routine with me, no matter how simple.
Undervalued - Questions
Asking the right questions is more important than finding the right answers. It's a saying that's been on my mind lately and I see the point. Questions give life to conversations, with others and with yourself.
Weekly Links
Wilson’s Weekly Digest - My friend Wilson has created a weekly newsletter where he shares the best of what he consumes and his thoughts on it. I think it’s a cool idea for a group of friends to stay connected (especially if it’s impossible to meet up physically) via weekly newsletters. You share what you want to, every week, month, etc. And all your friends can know what you’re up to.
Read More Books in the Golden Age of Content - You are what you consume, physically and mentally. If you want to start reading more books, watch this.
Singapore’s stance on Free Trade Agreements - Minister Ong Ye Kung spoke in Singapore’s Parliament about Free Trade Agreements (FTAs).
The biggest takeaway — by allowing foreign PMEs (Professionals, Managers, Executives) to get jobs in Singapore, locals PMEs get more jobs too. So in the big picture, it's positive sum. More foreign PMEs, more jobs for local PMEs.
But when you zoom in, to individual job postings, there will be competition between local and foreign PMEs. And in that case, it’s zero sum. But the whole system is a balancing act. Between many jobs and strong competition or few jobs and no competition.
I know, the above paragraph reads like I just repeated jobs, jobs and JOBS!
That’s all from Incandescent. See you next week!
- Guan Jie