When you know whats coming, prepare. When you don't know whats coming, position
Summary
- If you know something is coming, you can prepare for it. If you don't know, you can better your position
- If you don't know, you can improve your position.
Details
- If you know a bill is due, you can set money aside for it. If you don't have a specific bill, you can build your emergency fund, or invest you money for the future
References
- fs.blog
Quotes
When you know what's coming, prepare. When you don't know what's coming, position.
If you have a presentation on the calendar next week, you can rehearse. If you have an appointment, you can easily factor in travel time so you're not late. If you know the bill is due next year, you can save the money this year.
When the future is uncertain, you can position. No one knows what's going to happen with the economy, but you can position yourself against potential loss by spending less than you earn. You don't know what's going to happen to your health, but you can strengthen your position against disease by exercising. You don't know when you might need your friends, but you can be in a good position to ask for their help by being the kind of friend they can count on.
Being well-positioned enables anyone to come out ahead no matter what obstacles the unknown may present.