Good Evening Everyone!
Hope you all had a great Easter Weekend! It was beautiful weather around here so it definitely made for a fun and relaxing weekend!
This past week we did some MAJOR yard work. I won’t bore you with the details but ultimately we tried to pay cash for this instead of going into debt. Thanks to our Tax Returns this year, we were able to. Only downside is that we had to dip into our savings since it wasn’t ALL covered for by our returns.
Not the end of the world by any means since we won’t have to pay interest on any of the project. Just kind of a bummer that instead of tackling debt like I was hoping we would be able to, we need to focus on building that savings back up before we can really do much else.
The pressure to build it up so we can tackle our debt really started to bug me. It seemed like the tips and tricks I was recently trying weren’t really getting us anywhere. Obviously every little bit helps, but if I’m being 100% honest… I’m extremely impatient and want to really see the difference in our budget on a monthly basis.
After some time brainstorming I found a very harsh, and yet effective method to cut back on overall spending:
Instead of looking at dollar signs when you go to buy something… view that price in the amount of hours you would need to work to pay for it
Ouch, I know.
Say you make $20 per hour. Is that hour of work worth ordering the pizza for dinner instead of cooking food you already have in the house? Or is that $10 book worth the 30 minutes of work Monday morning.
Viewing purchases this way does 2 things:
1. It makes you evaluate your career choice. There really is no sense in wasting time in a field that you don’t love. If you’re not willing to work the ‘x’ hours needed to afford certain surplus items then you either need to evaluate if you really ‘need’ that item or whether or not that job is worth it to you for the paycheck.
2. You’ll be much less likely to blow money on impulse items when you realize how much time you need to spend to afford those items.
If you’re sitting here in a mild panic realizing just how much you have to work to afford the seemingly ‘inexpensive’ items. It’s okay, it will be okay, I promise. The day to day doesn’t need to change all that much. I just hope it helps you determine what job and what items fall into the ‘worth it’ realm of your life.
When we boil down to it, our time and effort equates to the money we earn. What we pay in money, we ultimately sacrifice in time away from our family, friends, and hobbies we are passionate about. We place so much emphasis on owning the latest and greatest technology or ‘keeping up with the Joneses’ but in order to do so we must literally trade in time off of our lives. Keep that in mind the next time you’re out and just want to say ‘f-it’ and buy the shirt.
PS. This method made me realize that the first hour and a half of work Monday morning goes right into the amount of gas I need to MAKE it to work for that week… wonderful.