Use-It-Or-Lose-It Bias
Number 18 Of The 25 Cognitive Biases...
Skills attenuate with disuse.
Examples Of The Use-It-Or-Lose-It Bias
"You don't get better at something by not doing it"
Building and maintaining muscle mass requires the application of tension on the muscle, without tension our muscles don't have the demand to grow.
Needless to say, weeks and months out of the gym will begin to see your muscle mass disappear - muscle wastage occurs because you're not lifting heavy or eating correctly to maintain the muscle - a great example of the use it or lose it bias.
How To Avoid Falling Victim To The Use-It-Or-Lose-It Bias
Life long learning in the form of reading books, attempting new skills and being curious in general will slow down this entropy (decay over time).
Daily exercise comprising of weights, cardio and mobility will ensure your body remains in top tip shape.
Want To Know More About Charlie Munger's Cognitive Biases & How To Dominate Life?
I recently purchased Charlie Munger’s flagship book, Poor Charlie’s Almanack – a book filled with hundreds of pages of wisdom from a billionaire and master of mindset and mental frameworks to improve your life..
This book cost me $65 USD. To most this will seem absurd…
“$65 for a book?! What a waste of money”
…these are the same people that spend hundreds of dollars on junk food and alcoholic beverages on Friday and Saturday night.
Delay The Instant Gratification
Don’t adopt the epicurean mentality of “eat, drink and be merry for tomorrow we die.”
You must think long term, you must delay the instant gratification we’re so used to experiencing in this life and invest for tomorrow (stoicism).
“Don’t invest in things that’ll rust, rot or depreciate, invest in things that’ll be worth more later or make you be worth more later”.
The information in this book is worth well over $65 if read and implemented, the information on investing and cognitive biases is worth its weight in gold.
But remember, It’s the application of knowledge that counts, not just the acquisition (read it and take action!)
Check it out and grab your copy of Poor Charlie’s Almanack here.
