The 2 minute rule is a productivity technique for getting more things done. It was initially suggested by David Allen in his book called “Getting Things Done.”
There are two parts to this strategy:
Part 1: If a task takes less than two minutes to complete, then do it right now.
Part 2: When you start a new habit, it should take less than two minutes to do. Example: Want to make reading a habit? Just read the first page of a new book (2–Minute Rule), and before you know it, the first three chapters have flown by. The most important part of any new habit is getting started — not just the first time, but each time.
This is how I have applied the 2 minute rule to my personal finances:
Part 1: I do simple things every day which take me closer to my personal goals. For instance recording every expenditure takes less than 2 minutes. Recording expenditure has given me information on my spending habits. Information is power. I can now make more informed decisions about my money. No more guess work and impulsive decisions.
Part 2: To develop a reading habit I started by downloading a podcast app. This took less than 2 minutes. Next day I downloaded one book on personal finances. This took less than 2 minutes. Next day I listened to the introduction of the book. Eventually listening to audio books became a full fledged habit. I have gained a lot of knowledge from this very simple habit. Using this knowledge I have been able to totally transform my finances.
The 2 minute rule can help you get more things done and develop better money habits. It will also help you to stop procrastinating on taking action towards your dreams.