You can learn a lot from a tweet.
Especially if that tweet is from New York Times columnist, author, and financial planner Carl Richards.
He's made a career out of exposing and analyzing what he calls the "behavior gap"— the gap between what you should do with your money and what you actually do.
In his "napkin sketches," he boils these insights down to a few drawn lines that are simple enough to fit on a napkin. He's gathered many of these in his books, and via his site, Behavior Gap. In anticipation of his next book, on overcoming imposter syndrome, he's also launching a free email course on November 1.
Below, take a look at nine sketches Richards has shared with his 24,000 Twitter followers, covering everything from psychology to financial advisers to why there's no such thing as a dumb question about money.
SEE ALSO: Learn everything you need to know about personal finance from 11 simple sketches
In an episode of Behavior Gap Radio,Richards explains a recent realization: "Any time there is extra — time, money, or energy — I spend it. You know what I mean? I don't reinvest it."
He refers to this extra as "slack in the system," and explains that it applies equally to energy, time, and money. When there's a day off, a rest, or a budget surplus, he's always viewed it as a reward.
"I realized that space in the schedule, blocks of unstructured time, is not a reward for doing good work," he says. "If you want to do good work for a long career, it's not a reward, it's a prerequisite. You have to build slack into the system in order to continue to do creative work for the long haul."
When it comes to money, Richards says, traditional budgeting advice usually revolves around creating scarcity: making the most of every dollar, keeping your checking account low to keep you afraid of overspending. However, building some slack into that system, realizing that "just because it's there doesn't mean it has to be spent," Richards says, "was a huge breakthrough for me."
"Next time you find yourself with a little bit of slack in your system," he advises, "you could do two things: You could say, 'Ok, this is what I've worked so hard for. It's a reward. I'm going to take a day off.' But I think you should flip it on its head and say, 'I've got to take this time. This slack has to be in the system, as a prerequisite for continuing to do the type of work I do.'"
"While humility is a virtue in all parts of life, when it comes to making smart decisions with money, it serves as a vital layer of protection," Richards writes in The New York Times. "When it comes to our money, there are no dumb questions."
Richards writes in The New York Times that when a friend asked his advice on how to invest so the money would definitely be there in three to five years, when it was time to buy a new house, Richards advised keeping it out of the market — and his friend felt that it was "wrong" to work so hard for that money and then let it "sit there doing nothing."
Reflecting on this reaction, Richards writes:
"In a situation like this one, it's helpful to recall and repeat Mark Twain's advice to be more concerned with the return of our money than the return on our money. For things that are really important and less than five years away, like buying a house or taking a big trip, the return doesn't matter. All we care about is making sure the money is there when the time comes.
"So I'm over the idea that a big pile of money has to generate a big return. We could invest that money, but we'd also have to accept that three years from now, all the money might not be there. Any investment could come back later, but maybe not in time for the big, emotional goal we set. I'm betting at that moment, we'd feel even worse about less money or no money than no gain."
See the rest of the story at Business Insider