What is your EVE Ratio?

[GT Bulmer]

What is YOUR EVE Ratio?

EVE stands for “Entertainment versus Education” – that is, the ratio between what you spend each month on entertainment versus what you spend on education or personal development.

The average person has a ratio of 50 or 100 to 1! Not good. It’s no wonder so many have so much trouble staying ahead of the “credit wolves” and getting ahead in life financially.

How do you think you compare? What do you think your EVE Ratio is?

To find out, grab a piece of paper and create six columns. Title the columns, from left to right, Entertainment, Time, Money, Education, Time, Money.

Now, under the Entertainment column, list everything you can think of that you spend money on. For example Cable TV, Movies, Sports Events, Vacation, Dining, Drinking, Social Clubs, Video Games, Golf, Coffee, Satellite Radio ... etc., etc. ... you get the picture.

List everything, and then in the Time and Money columns write in the corresponding amount of time and money spent on each item.

Next, do the same under the Education column. List everything you can think of plus the corresponding time and money spent on each.

Once you have completed the lists for both Entertainment and Education, add up the totals under the corresponding Time and Money columns. These totals will give you your EVE Ratio.

How does your Entertainment spending compare to your Education spending? Is there balance? Or do you, like most people, find that Entertainment far outweighs Education? Is the ration 5-1, 10-1 or 50-1 or more, as it is with many people?

You can tip the scale of business and personal success in your favour by adjusting your EVE Ratio. That is, examine your monthly spending priorities and start placing more emphasis on education. It doesn’t take much, but the long term benefits can be dramatic.

A lot of people make the excuse that they can’t afford the cost of continuing education and personal development but if you take an honest look at your EVE Ratio, you might find room for some small changes that can make a big difference.

GT

[MichelleJ]

Thanks Evan & Gt

Getting this information is really helpful. The most difficult part is actually following through on what we learn here.

MichelleJ

[GT Bulmer]

Thanks Evan & Gt

Getting this information is really helpful. The most difficult part is actually following through on what we learn here.

MichelleJ

I am definitely with you on that one, Michelle! We recognize the value and importance of certain practices and characteristics, and we have good intentions of following through ... but then "life" happens, we get distracted, overwhelmed sometimes, then lose track of some of the things we intend to do.

I think the important thing is to keep all these good things in mind and do try to make it a priority to follow through with some of them, some of the time. Sometimes, it's one little bit of inspiration that propells us on to great achievement.

Simply being aware of the EVE Ratio concept might trigger something in our mind sometime, like when we're about to sit down in front of the television, then we say, "No. I'm going to use the time to write a blog post, or start a new article or work on a new landing page."

That's the whole idea: to spark some inspiration, creativity, motivation.

GT

[mbrand2222]

Sometimes it just seems like we don't have the time needed to really follow through. Unfortunately, may of the things we don't have time for, probably would have saved us time in the long run if we would have just made time to apply them immediately. Does that make sense? I just wish I knew which ones would do that. I guess it's about taking a risk......you hope you did the right thing at the right time so that it benefits your business the most.

[GT Bulmer]

...you hope you did the right thing at the right time so that it benefits your business the most.

Hi, Mary:

In the case of prioritizing a person's marketing efforts, I agree completely with you. You make the best decision you can with the info and insight you have at the moment. That's the challenge of business (and life): it is a process of constant evaluation and adjustment.

In regards to the EVE Ratio (EVE meaning Entertainment vs. Education), Boyd Matheson is saying that there are times we could cut back a bit on our entertainment and put those funds towards a bit more education or personal development.

I see that as "short term pain for long term gain." In other words, give up a few theatre movies a month, or a few dinners out, or one gourmet coffee a day and invest instead in a personal development program of some sort. The result will be valuable education in the short term that will translate into greater earning potential in the future ... that will then mean you can enjoy even MORE movies, dinners, coffees, etc.!

GT

[mbrand2222]

[/quote]

I see that as "short term pain for long term gain." In other words, give up a few theatre movies a month, or a few dinners out, or one gourmet coffee a day and invest instead in a personal development program of some sort. The result will be valuable education in the short term that will translate into greater earning potential in the future ... that will then mean you can enjoy even MORE movies, dinners, coffees, etc.!

GT [/quote]
This is sooo true but I think it's really hard for the younger generation who are used to having everything RIGHT NOW. If they can buy it on a monthly plan, count them in. I'm kind of hoping that the state of the current economy will open a few eyes as to just how dangerous that can be......for business and for personal.

[MichelleJ]

You are so right Mary. Today it is a case on instant gratification and it seems that this is the only way that the younger generation understand. I hope that they learn the lesson with what is happening in the financial world at the moment.

MichelleJ

[mbrand2222]

Unfortunately, I think it takes personal financial disaster for them to learn, which is really sad, but it's like telling your kids not to do things and to learn from Mommy's mistakes. They always have to try it themselves to really understand what we mean. Well, not always, but some of them.

They see the country is in financial distress, but it's too far removed from them to learn from it unless they are enduring hardships themselves.

[GT Bulmer]

Hey, Michelle and Mary:

I agree with you about many among the younger generation having an intense interest in instant gratification and buying on credit to get it.

I am seeing some of them go a few steps beyond that, too, where they don't take care of the things they do have because they have the idea that "there's plenty more where that came from." Their philosophy seems to be "use it, abuse it, replace it" ... with little thought or concern about taking care of things to make them last.

However, to be fair to young people, I also see up-and-coming young entrepreneurs who have a good grasp of the relationship between responsibility and long term prosperity. So, there IS hope for the future!

GT

[David Hurley]

My EVE ratio heads in the "entertainment" direction when sudden changes in my schedule mean that I finish in town at around 9pm...

It happened a couple of times last month when I rescheduled a consultation session to accommodate a client and when I left the office on Saturday evening I found my feet leading me towards an entertaining bar in the vicinity rather than towards the tram-stop where I catch the home-bound tram...

Changes to schedules and situations make us vulnerable to temptation, just as our first father was, but that is another story and another Eve...

[TannyL]

Hi GT,
Thank you for posting this. Like Michelle, the hard part is applying everything.
I admit that mine is balanced, with entertainment on the lead, but with a very small lead. I was on a lecture last week, and one of the teachers said: it not the amount of knowledge you have, it's how you use it every day.

So true.

[David Hurley]

Hi Tanny,

I agree.

I find it quite difficult at times to apply all the knowledge I have accumulated about Internet marketing.

I write about things I have learnt in my articles, which is putting knowledge to use to some degree, but I really need to get better at applying it directly to my online business...

I think it is a matter of needing more time, but also of using the time that I have more effectively and efficiently...

There is another problem too, which is that we soon forget the knowledge we acquire on the Internet if we are not swift to apply it...

[MichelleJ]

I agree with both Tanny and David

The knowledge is great but if you don't apply it you tend to forget it very quickly. This of course is the most difficult part. I learn quite a lot from the PLR articles that I receive. so apart from the fact that I am getting articles that I can use for content, I am also learning from them.

MichelleJ

[TannyL]

Beside forgetting everything you learn (like me and Japanese), you have the problem of being mediocre, because you don't have the time to master everything.

[GT Bulmer]

Hello, everyone:

Wow. Sounds like we truly are all "birds of a feather" with very similar challenges!

Information overload is the first challenge, then finding the time to apply what we learn, then just remembering what we have learned ... or where to find it.

I often come across email files or document files with information, or lessons or other references of things I was "planning" on implementing, but forgot about entirely! You know: out of sight, out of mind. And some weeks, I really feel like I am out of my mind!

I think this is where focus and goals come into play. If we have our long term goals firmly in mind (and written down and tacked up on the wall in front of us! ), then we will still make progress even if we can't put everything we learn into practice or forget some of what we have learned.

The EvE Ratio can be a tool to help remind us to stay focused, not get sidetracked too often by the pleasures of the world - although, we DO need to relax SOME of the time.

GT