Pro Tip: Tracking Works

[james.hendrickson]

Pro tip: tracking works.

What gets measured, gets managed.

So, if you want to make more money, track your income. If you want to improve your investing returns, track your investing returns. If you want to eliminate your wasteful spending, track your spending.

This also works for non-financial aspects of your life. If you want to lose weight, track your weight and exercise. If you want to be a better parent, set some parenting goals and track them.

Tracking works.

[bjl584]

I would add that tracking is great, but at some point you need to take action.

You can track your calories all day long, but if you never make changes to your diet or never go the gym, then all you are doing is endlessly compiling data.

[james.hendrickson]

I would add that tracking is great, but at some point you need to take action.

You can track your calories all day long, but if you never make changes to your diet or never go the gym, then all you are doing is endlessly compiling data.

I believe the broader point that guys who advocate tracking is...once you have the data you can make the effective changes.

[myrdale]

I would add that tracking is great, but at some point you need to take action.

You can track your calories all day long, but if you never make changes to your diet or never go the gym, then all you are doing is endlessly compiling data.

The purpose of collecting the data is for self correction.

One part of quality management systems is Plan Do Check Act. In this case,

Plan: Collect your data (weight, spending, etc) and develop a strategy (exercise plan, budget).
Do: Enact your plan (go to the gym, follow the budget).
Check: Continue collecting data and determine if you're meeting your goals.
Act: Adjust your plan as necessary and continue until you've reached your intended results.

[bjl584]

The purpose of collecting the data is for self correction.

One part of quality management systems is Plan Do Check Act. In this case,

Plan: Collect your data (weight, spending, etc) and develop a strategy (exercise plan, budget).
Do: Enact your plan (go to the gym, follow the budget).
Check: Continue collecting data and determine if you're meeting your goals.
Act: Adjust your plan as necessary and continue until you've reached your intended results.

If you do that exercise, then sure, it works.
I was referring more to people who endlessly collect data and never do anything with it.
You end up in a state of "paralysis of analysis."