I've been looking at getting a part-time job to supplement my income recently and have noticed that a good part-time job in my area pays ~$15/hr. I am someone who CONSTANTLY looks for ways to save money, so I've been factoring this $15/hr into my extra time spent when buying something. Tiny example:
The other day I was about to buy something online that costs $3, but I thought about it for a second and figured I could probably just pick this up at the dollar store instead. Rather than looking at the situation as $3 spent vs $1 spent, I added up the other resources I would use and factored them into the price. Going to the dollar store would use roughly 10 minutes of my spare time and 25 cents worth of gas. 10min/60min = .167 x $15/hr = $2.50 worth of my spare time.
Now instead of saving $2 by going to the dollar store, I'm actually spending $3.75 of my resources on this item. Now buying it online would be saving me money. You can also consider other factors like: Stress from another 10min task, impulse purchases while at the dollar store, more miles on car, increased chances of an accident in your car, etc.
I know this is a tiny example with an insignificant amount of money, but stuff like this can add up. I see a lot of people (myself included) get drawn into a more complicated purchasing situation by the lure of saving money. Sometimes it's not worth the added time and stress.
Submitted May 21, 2018 at 01:05PM by MinnyTwinberwolves https://ift.tt/2IEUZrI
