Firass.org

Delayed gratification  ○  Learn to learn, learn to think  ○  LEARN » DO » TEACH

We're starting a movement!

The original intent was to launch an investment platform, however I quickly realized that people had other problems and numerous other obligations. I couldn't with a clear conscience tell people to make investments while they themselves were drowning in debt: credit cards, student and auto loans, and even mortgages. What's the ROI on the best performing investment compared to a credit card APR? Even if I can guarantee a better return than a credit card's interest rate, I would still advise everyone to pay off debts before making investments...

...and that's the origin of Firass.org!!!

Let's simplify everything, and start building upon a solid foundation. Define an end goal, something that might even be nebulous and aspirational, like "I want to be healthy and free." Then work backwards to identify, one small step at a time, one action to take to reach the end goal. This becomes all-encompassing, dealing with money, food, and literally every interaction with the economy.

WE'RE STARTING A MOVEMENT!

So, where do we begin??? First, let me introduce myself!

Who am I? Why am I qualified?

I am Firass, a middle-aged Muslim man. I spent most of my life listening and watching: my mouth closed, eyes and ears open! I've lived in suburban, rural, and urban environments; as well as internationally.

I am neither a doctor, nor a financial advisor, nor a religious scholar. Professionally, I write software. I have immense experience managing projects, which includes the invaluable skill of breaking down complex problems into tasks that are small, understandable, and achievable. Running and scaling large software applications has taught me another indispensable skill: performing root cause analyses (RCAs). This means fixing the source of the problem when something goes wrong, instead of applying temporary fixes that will cause the same or new problems at a later time.

And that's what we are going to do:

  1. Break down a complex problem into smaller pieces
  2. Take that smaller piece and identify its root cause
  3. Apply solutions, one small step at a time!

So, what's next??? Now that we got that introduction out of the way, let's jump right in!

Where do we begin?

Again, let's start from the end goal and work backwards. By the end of this journey, we are going to be people that consume in a thoughtful and purposeful way. Based on my life experience, everything comes down to things like impulse control, delayed gratification, and lowering your time preference.

Some of these concepts might be new or abstract to you, but we will work through this together with real life examples.

WE ARE GOING TO BE HEALTHY AND FREE!

This journey will entail a little step of learning and a small step of action.

Learn: Opportunity Cost

Please take 51 seconds to watch economist Saifedean Ammous explain the concept of opportunity cost.

Time is finite, and everything you do has a tradeoff: spending time or money on one thing is time or money you could have spent on a near limitless number of other options.

Do: Time Utilization Exercise

Introduction

How are you currently spending your time? Before we think of better ways to spend our time, we need to account for what we are doing now!

Doing the time utilization exercise: Get a paper and pen (or open a spreadsheet!), and let's get started. Make a list of everything you do every day, and the amount of time it takes to do it.

Example

Below is a time utilization example for weekdays and for the weekend:

Weekdays (x5)
Activity Time
Sleep 8 hours
Morning routine 1 hour 
Work 9 hours
Eating/Food preparation 3 hours
Everything else time!! 2 hours
Bedtime routine 1 hour 
Total 24 hours
Weekends (x2)
Activity Time
Sleep 8 hours
Morning routine 1 hour 
Eating/Food preparation 3 hours
Everything else time!! 11 hours
Bedtime routine 1 hour 
Total 24 hours

Conclusion

Your exercise results will look different: It might be more detailed, you might be a student, or you might spend time commuting. Whatever the case, we can quickly see that most of our time is already accounted for. The "Everything else time!!" bucket is not free time: it includes time to run errands, entertainment, time to relax, and other tasks. We will need to get creative if we want to make meaningful change in our lives.