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Terms apply. Welcome to Before Breakfast, a production of iHeartRadio.
Good morning. This is Laura.
Welcome to the Before Breakfast podcast.
Today's tip is that your life is a portfolio of choices.
Rather than thinking about a choice in isolation, think about it alongside any other relevant choices you happen to be making.
That can help you make better choices and, in general, enjoy life more.
So in Wharton professor Katie Milkman's sub -stack recently, she shared a Q &A with behavioral scientist Erica Kyrios about choice bracketing.
Choice bracketing, according to Kyrios, has to do with whether you think locally or globally when making a choice.
If you think locally and bracket narrowly when making a choice, you basically consider the choice in isolation.
All you are considering, for example, is how to celebrate Thanksgiving, or what to have dinner tonight, or whether to go to your neighbor's cookout.
On the other hand, if you think about a choice globally or bracket more broadly, you consider one choice as part of a broader set of choices.
So as you consider how you will celebrate Thanksgiving, you might also think about how you'll celebrate Christmas.
Maybe you'll even figure out when you last saw members of your family and your partner's family.
Bracketing broadly, you might recall that you had a burger at lunch today, and you're going out to a restaurant tomorrow night, and so you decide to get something lighter and cheaper for dinner.
Thinking globally about whether to go to your neighbor's cookout might involve remembering when you last saw your neighbors, and also figuring out when your next opportunity is to have a quiet night at home.
Katie Milkman suggested that bracketing broadly is like considering our whole life portfolio, as she puts it.
Just as considering each financial investment as part of your whole financial portfolio helps you make wise money choices, when you look at individual choices as part of a set of life choices, you can often make better decisions for your life portfolio.
That's because you're able to get more variety, and address multiple goals.
This is why I advise planning travel for the year all at once, rather than deliberating about each trip or school holiday separately.
When you plan the whole year's travel, everyone in your family will get to look forward to travel they are excited about at some point in the year.
Whereas a narrowly bracketed decision to go to the beach for the holiday break may leave half of your family thrilled and the other half upset that they don't get to go skiing.
Deciding on family travel all at once also lets you think about the travel budget for the year as a whole.
You are not asking, narrowly, whether you can afford one trip.
You are asking whether all your plans for the year make sense.
Bracketing your choices broadly is important for time as well.
Longtime listeners have probably heard me caution against the trap of thinking only in terms of the 24 hours in any given day.
It is true that there are only 24 hours in a day.
Any given day may not include enough time for working 9 to 6 and coaching your daughter's softball game and serving as a volunteer usher at the symphony and practicing your German and also seeing a friend.
But think more broadly, perhaps the timeframe of a month, and you probably do have time to work 9 to 6 most weekdays and coach softball once a week and usher at the symphony one Sunday afternoon and have brunch with a friend, maybe while speaking German at the same time.
Broaden the timeframe and suddenly you see opportunities for a variety of activities that are important to you.
The narrative of your life changes.
You're the sort of person who is a coach, a symphony supporter, and a good friend while also being a rockstar employee and parent.
So if you're feeling like there's not enough time in the day, never fear.
There probably is enough time in the month.
When you bracket more broadly in general, there is plenty of room for family, work, volunteering, friendships, exercise, hobbies, whatever is important to you.
And the more broadly we can think about choices in general, the greater the chances, we'll get to do what matters.
In the meantime, this is Laura.
Thanks for listening.
And here's to making the most of our time.
Thanks for listening to Before Breakfast.
If you've got questions, ideas, or feedback, you can reach me at laura, at lauravandercam .com.
Before Breakfast is a production of iHeartMedia.
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