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Two money aspects that I find useful, which weren't mentioned in the article: Price per use: if I buy X, how much/often will I use it vs. it's price Time sacr
by iammjm 4y ago
Two money aspects that I find useful, which weren't mentioned in the article:
Price per use: if I buy X, how much/often will I use it vs. it's price
Time sacrifice: considering my current hourly wage, how many hours of my life do I need to spend in exchange for this item?
- have_faith 4y agoI think these concepts can be very dangerous if applied too liberally. In both examples you need to have a rough understanding of how happy the thing might make you feel, or how much "value" it's going to provide. I can buy A for £50 or B for £100. B is in some measurable way "better" than A, but I can't quantify how much. B being better might make me use it more? it might also be used equally little and be a waste of money. Growing up poor and becoming comfortable financially as I grow up has only made these sorts of assessments much harder I've found.
- imtringued 4y agoThe time sacrifice thing doesn't work in practice because the division of labor has a very big expense called taxes. If you do things yourself then you avoid the tax burden. But if you decide to let someone else do the work you have to pay VAT and income tax.
- grecy 4y agoWhen quoting your hourly wage deduct income tax and all expenses you incurred to earn it - commuting, meals, clothes, etc. You’ll see suddenly your hourly wage is not so high, and it a huge number of hours of your life for that tv