I've heard of a number of laws like the Pareto Principle, Peter Principle and I may have even heard of this one, but for some reason it didn't sink in until now.
Have you ever been surprised by how much you got done in such a short amount of time? Have you ever wondered why it took you so damn long finish something so simple? Well it's all explained in the Parkinson's Law.
The basic premise is that you will essentially make up work to do in order to fill time in order to finish the project on time. Ever pulled an all nighter finishing a paper in college? Got an A! Ever took 3 months to write a paper that you knew about for the first day of class and ended up getting a B? Been there, done that!
I'm never bored on my day off. I always have tons to do and the day goes by fast! How much I actually get done? Well that's a different story.
Have you ever woken up late, brushed your teeth, taken a shower, shaved, and gotten dressed in 15 mins? Has it also ever taken you an hour to do the same thing? See what I'm getting at?
What does this have to do with personal finance? Urgency! If you're like most Americans you're severely fucked when it comes to being ready for retirement. You're so far behind the 8ball all you see is black! It's time to get your ass in gear and embrace the early retirement extremes. Quit dicking around and start saving a boat load of money today! I hear stories all the time about people who pay off massive amounts of debt ($100,000) in just a few years on teacher salaries. And yet people don't think you can save a million dollars in 15 years.
Another way this applies is what we call "life style inflation" which is when the amount of money you make expands with your income. You make twice as much as 10 years ago and yet you aren't saving anymore.
Fight Parkinson's Law!
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