The Cost of Ignorance
February 10, 2024 | Supreeya S
Have you heard about ignorance debt? I first heard about the term on Alex Hormozi’s video, and I was mind blown to say the least.
What is Ignorance Debt?
Simply put, ignorance debt is the debt of not knowing.
Why Does is Matter?
Not knowing costs you. If you had the information or experience, you could have made better decisions. You could have created better options. That’s the cost of ignorance.
“Ignorance is the most expensive debt.” – Alex Hormozi
When we don’t have information that you need, you don’t have the opportunity to make better choices, find better solutions, or clarify your problems.
You have to pay down the ignorance debt. Paying it down allows you to have clarity and better options.
Does Everyone Have Ignorance Debt?
Everyone has ignorance debt they need to pay off.
Whenever you think, “I should have known this. I should not have done that. If only I knew then, what I know now.” You should give yourself a pat on the back. You’ve grown. You’ve accessed more information. That’s why you feel like you made a mistake in the past. But it wasn’t stupid. It was the best decision you made with the information you had at that moment. When these thoughts pass your mind, congratulate yourself on clearing a level.
You’re always going to know more now than you did before. So there’s no need to feel bad, or guilty. The point is that you learned what you needed to. Life gave you the lessons you need for your next level.
If you’re always growing, you’ll have always have this realization.
You have to come to terms with the fact that no one escapes from ignorance. In trying to escape from ignorance, you’re still going to run into it at the next stop. It’s going to hit you harder.
We’re always stepping into the unknown. Each day brings a new challenge. It could be in your work life, relationships, personal business, health, love life. You’re never going to know how to navigate every single thing.
We are always wiser looking back. That’s the beauty we need to embrace.
How Do You Pay Down Ignorance Debt?
Think of life as a game. There are limitless levels in many categories. The categories include your health, your wealth, your career, your relationships, and so forth.
When you make a decision or take action, you are making a move in the game. Only through these actions will you break through each level. The information and experience you gain through your actions will become your resources for your next moves and levels.
It’s a cycle. So you can keep going. That’s the game.
Part of the game is choosing what to focus on. You can’t unlock all levels in all categories all at once. So you have to prioritize and choose what you value. Choose the categories you want to invest in. Choose your focus within those categories and invest your time and energy. Take action.
Don’t let your ignorance stop you from taking action. Do whatever it takes. Focus on executing, experiencing life, and growing from it. Accumulating information without putting it to use won’t lessen your debt.
Are you ready to pay down your debt of not knowing? I know I am.