Seri: 365 Days with self - Discipline

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 ------------Week 1---------------

Day 7: On poverty and Self Discipline

A second line of research has shown that economic stress robs us of cognitive bandwidth. Worrying about bills, food or other problems, leaves less capacity to think ahead or to exert self-discipline. So, poverty imposes a mental tax.

 —Nicholas Kristof 7

 Financial stress (or for that matter, all kinds of stress) diminishes your ability to delay gratification. Consequently, poor people find it harder to resist temptations. In the end, they get stuck in a vicious cycle — they can’t escape poverty because it imposes constant mental stress on them, which then leads them to making bad decisions — not only the financial ones, but also those relating to their health, relationships, and general future.

 Does it mean that if you’re struggling financially, you’re destined to have a bad life? Not necessarily. Taking personal responsibility and becoming conscious of the source of the problem can help you push ahead and overcome your circumstances.

 Launching one of my businesses put me in debt. It exerted immense daily stress on me. No matter what I was doing, there was always the thought in the back of my head that I had a debt to repay. In some months, I was so close to not meeting my obligations on time that I would have been forced to close up shop if it weren’t for some money I managed to make at the last minute .

 This experience has made me realize that no matter what they say about money not bringing happiness, at least several months’ worth of income kept as savings in the bank means the difference between a relatively stress-free life and the soul-crushing fear when you can’t cover an urgent, important expense.

 If you’re struggling with finances, make it one of your priorities to get out of debt as quickly as you can and build an emergency fund covering at least three to six months of basic living expenses. In addition to improving your financial health, it will dramatically reduce stress and strengthen your ability to delay gratification and make more optimal choices favoring your future.

Vocabulary
diminish /dɪˈmɪnɪʃ/
[intransitive, transitive] to become smaller, weaker, etc.; to make something become smaller, weaker, etc.
SYNONYM decrease
The world's resources are rapidly diminishing.
His influence has diminished with time.
 diminish something The new law is expected to diminish the government's chances.

vicious /ˈvɪʃəs/

violent and cruel

SYNONYM brutal

a vicious attack

a vicious criminal

She has a vicious temper.

Police described the robbery as particularly vicious.

conscious /ˈkɒnʃəs/

[not before noun] aware of something; noticing something

 conscious of something She's very conscious of the problems involved.

I am conscious of the fact that there's a limit to what we can achieve here.

 conscious of doing something He became acutely conscious of having failed his parents.

 conscious that… I was vaguely conscious that I was being watched.

rob /rɒb/

rob somebody/something (of something) to steal money or property from a person or place

to rob a bank

The tomb had been robbed of its treasures.

The gang had robbed and killed the drugstore owner.

cognitive /ˈkɒɡnətɪv/

connected with mental processes of understanding

a child’s cognitive development

cognitive psychology

They are studying the links between cognitive and linguistic development in young children.

This is both a cognitive and an emotional process.

impose/ɪmˈpəʊz/

 [transitive] to introduce a new law, rule, tax, etc.; to order that a rule, punishment, etc. be used

 impose something The UN Security Council imposed sanctions in 1992.

to impose a penalty/fine/sentence/ban

 impose something on/upon something/somebody A new tax was imposed on fuel.

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Translate 

Financial stress (or for that matter, all kinds of stress) giảm bớt/dɪˈmɪnɪʃ/ your ability to delay gratification. Consequently, poor people find it harder to resist temptations. In the end, they get stuck in a xấu xa/hằn học/ˈvɪʃəs/ cycle — they can’t escape poverty because it imposes constant mental stress on them, which then leads them to making bad decisions — not only the financial ones, but also those relating to their health, relationships, and general future.

 Does it mean that if you’re struggling financially, you’re destined to have a bad life? Not necessarily. Taking personal responsibility and becoming có ý thức/ˈkɒnʃəs/ of the source of the problem can help you push ahead and overcome your circumstances.

 Launching one of my businesses put me in debt. It exerted immense daily stress on me. No matter what I was doing, there was always the thought in the back of my head that I had a debt to repay. In some months, I was so close to not meeting my obligations on time that I would have been forced to close up shop if it weren’t for some money I managed to make at the last minute .

 This experience has made me realize that no matter what they say about money not bringing happiness, at least several months’ worth of income kept as savings in the bank means the difference between a relatively stress-free life and the soul-crushing fear when you can’t cover an urgent, important expense.

 If you’re struggling with finances, make it one of your priorities to get out of debt as quickly as you can and build an emergency fund covering at least three to six months of basic living expenses. In addition to improving your financial health, it will dramatically reduce stress and strengthen your ability to delay gratification and make more optimal choices favoring your future.

 Financial stress (or for that matter, all kinds of stress) diminishes your ability to delay gratification. Căng thẳng tài chính (hoặc đối với vấn đề đó, tất cả các loại căng thẳng) làm giảm khả năng trì hoãn sự hài lòng của bạn. Consequently, poor people find it harder to resist temptations. Do đó, những người nghèo khó cưỡng lại những cám dỗ hơn. In the end, they get stuck in a vicious cycle — they can’t escape poverty because it imposes constant mental stress on them, which then leads them to making bad decisions — not only the financial ones, but also those relating to their health, relationships, and general future. Cuối cùng, họ bị mắc kẹt trong một vòng luẩn quẩn - họ không thể thoát khỏi cảnh nghèo đói vì nó khiến họ luôn căng thẳng về tinh thần, dẫn đến việc họ đưa ra những quyết định tồi - không chỉ về tài chính mà còn cả những vấn đề liên quan đến sức khỏe của họ, các mối quan hệ và tương lai chung.

 Does it mean that if you’re struggling financially, you’re destined to have a bad life? Not necessarily.Có nghĩa là nếu bạn đang gặp khó khăn về tài chính, bạn sẽ có một cuộc sống tồi tệ? Không cần thiết. Taking personal responsibility and becoming conscious of the source of the problem can help you push ahead and overcome your circumstances.Chịu trách nhiệm cá nhân và ý thức được nguồn gốc của vấn đề có thể giúp bạn thúc đẩy và vượt qua hoàn cảnh của mình.

 Launching one of my businesses put me in debt. Việc thành lập một trong những doanh nghiệp của tôi khiến tôi mắc nợ. It exerted immense daily stress on me.Nó gây căng thẳng hàng ngày cho tôi. No matter what I was doing, there was always the thought in the back of my head that I had a debt to repay. Bất kể tôi đang làm gì, luôn có suy nghĩ trong đầu rằng tôi phải trả một món nợ. In some months, I was so close to not meeting my obligations on time that I would have been forced to close up shop if it weren’t for some money I managed to make at the last minute.Trong một số tháng, tôi đã suýt không thực hiện đúng nghĩa vụ của mình đến mức tôi buộc phải đóng cửa cửa hàng nếu đó không phải vì một số tiền mà tôi kiếm được vào phút cuối.

 This experience has made me realize that no matter what they say about money not bringing happiness, at least several months’ worth of income kept as savings in the bank means the difference between a relatively stress-free life and the soul-crushing fear when you can’t cover an urgent, important expense.Kinh nghiệm này đã khiến tôi nhận ra rằng bất kể họ nói gì về việc tiền bạc không mang lại hạnh phúc, thu nhập ít nhất vài tháng được giữ làm tiền tiết kiệm trong ngân hàng có nghĩa là sự khác biệt giữa một cuộc sống tương đối không căng thẳng và nỗi sợ hãi xé nát tâm hồn khi bạn không thể trang trải một khoản chi phí khẩn cấp, quan trọng.

 If you’re struggling with finances, make it one of your priorities to get out of debt as quickly as you can and build an emergency fund covering at least three to six months of basic living expenses. Nếu bạn đang gặp khó khăn về vấn đề tài chính, hãy biến nó thành một trong những ưu tiên của bạn để thoát khỏi nợ càng nhanh càng tốt và xây dựng một quỹ khẩn cấp để trang trải ít nhất từ ba đến sáu tháng cho các chi phí sinh hoạt cơ bản. In addition to improving your financial health, it will dramatically reduce stress and strengthen your ability to delay gratification and make more optimal choices favoring your future.

Ngoài việc cải thiện sức khỏe tài chính của bạn, nó sẽ làm giảm đáng kể căng thẳng và củng cố khả năng trì hoãn sự hài lòng và đưa ra những lựa chọn tối ưu hơn có lợi cho tương lai của bạn.

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