GTD and Money Management

Discussion in 'PUBLIC: Discuss the GTD Methodology' started by AaronLe, Jun 2, 2019.

  1. AaronLe

    AaronLe Registered

    Joined:
    Jun 2, 2019
    Messages:
    1
    Likes Received:
    0
    Trophy Points:
    1
    Hey guys, quick question for you..

    I wonder if anyone has noticed the similarities between GTD and managing your money. In the same way that David says 'you can only feel good about what youre not doing when you know what youre not doing' ie. You can only feel good about your current tasks when you know that this is the best use of your time and that there isnt any other more important or urgent tasks that you should be paying attention to instead.

    I feel that your money is similar to this. You cant feel good about spending money if you dont know how much you have in your bank account, or you dont know if you'll maybe need that money for later.

    GTD is about taking the tasks and work which is invisible inside your mind and making it visible so that you have some control and perspective over it. I feel that money management/budgeting/record keeping is similar to this; you are taking something intangible and writing it in a format (a financial statement) where you can see what is actually going on with your money.

    I am just curious to get anyone's perspective on this. Do any of you see a similarity? What do you think? Have any of you applied GTD principals to your budgeting/record keeping? Do any of you know any good books on budgeting/record keeping and money management that are practical and actionable in the same way that GTD is.

    Thanks for reading guys, take care!
     
  2. Cpu_Modern

    Cpu_Modern Registered

    Joined:
    Apr 24, 2006
    Messages:
    622
    Likes Received:
    56
    Trophy Points:
    28
    I don't think neither time nor Next Actions are currency, there is a fundamental difference there. For example, you cannot store time the same way you can save money. But, OTOH, the similarities are enough to use accounting as a clarifying example for discussing issues of time- and self-management. I dimly remember this has been done a few times.
     
  3. AnneMKE

    AnneMKE Registered

    Joined:
    May 27, 2016
    Messages:
    71
    Likes Received:
    49
    Trophy Points:
    18
    There are definitely some overlapping concepts. I've found that a software product called You Need A Budget is a powerful tool to manage this area. Instead of only looking at what you've spent up to today, YNAB is basically a digital "envelope" system that lets you allocate the money you have to planned uses, and then change those plans as needed. As you say, that takes the future thinking (here, about spending) that's in your mind and makes it concrete and external, but flexible. Good luck!
     
    rmjb likes this.
  4. ERJ1

    ERJ1 Jedi Master

    Joined:
    Feb 28, 2019
    Messages:
    97
    Likes Received:
    70
    Trophy Points:
    18
    Gender:
    Male
    Occupation:
    Social Studies Teacher
    Location:
    Chicago, Illinois
    Came here to speak out in favor of YNAB as well.

    I really think there's a similar mentality behind YNAB and GTD. Tracking, planning, and personal accountability (with flexibility) are the core of these systems!
     
  5. AnneMKE

    AnneMKE Registered

    Joined:
    May 27, 2016
    Messages:
    71
    Likes Received:
    49
    Trophy Points:
    18
    I hadn't thought of it this way but in fact the YNAB workflow process is very similar -- if you think of an incoming dollar as "stuff," the YNAB user figures out whether it's actionable, identifies the action associated with it, places it in the category where it will be found when it's time for that action, renegotiates that plan when reflection shows change is needed, and spends/acts as planned. And it's all done with an eye to both the "control" and "perspective" viewpoints -- YNAB honors both the need to pay the light bill and the hope of doing the things that mean the most to us. Thanks for triggering that!
     
  6. TesTeq

    TesTeq Registered

    Joined:
    Oct 4, 2003
    Messages:
    4,740
    Likes Received:
    493
    Trophy Points:
    83
    I can see a big difference here:
    While we are certainly overwhelmed by the stuff that comes to our GTD inboxes, few of us are overwhelmed by the amount of dollars that come to our accounts. ;) @ERJ1
     
    AnneMKE likes this.
  7. mcogilvie

    mcogilvie Registered

    Joined:
    Jan 2, 2005
    Messages:
    2,422
    Likes Received:
    356
    Trophy Points:
    83
    Technically, the difference is that money is a conserved quantity, like energy, while stuff just increases, like entropy.
     
    TesTeq likes this.
  8. TesTeq

    TesTeq Registered

    Joined:
    Oct 4, 2003
    Messages:
    4,740
    Likes Received:
    493
    Trophy Points:
    83
    Oh, I thought that the amount of money in circulation depended only on the efficiency of the printing presses controlled by central banks. ;)
     
    Rostane likes this.
  9. mcogilvie

    mcogilvie Registered

    Joined:
    Jan 2, 2005
    Messages:
    2,422
    Likes Received:
    356
    Trophy Points:
    83
    In circulation, yes. But with an efficient bureaucracy, the books balance. At least in modern banking systems, mostly.
     
    TesTeq and Rostane like this.
  10. Rostane

    Rostane Registered

    Joined:
    May 2, 2019
    Messages:
    46
    Likes Received:
    3
    Trophy Points:
    8
    Good insights, GTD applies everywhere !
     

Share This Page