The big thing about saving money is that there’s always a price. I was out with my wife and the kids on saturday. It was one of the most beautiful days that I’ve seen in months. It was in the 60s in the middle of January which is frankly unheard of in the northern states. It was just a damn near beautiful day.
So we were in the car and my wife was like, you mind stopping at this the store since it’s so close so we can pick up some coconut waters? (We love coconut water). I knew that would tack on at least 30-45 minutes onto our trip and I fought her on it.
She saw it as an opportunity to save a little time, instead of driving down there. I saw as a complete waste of time. We save $75 on these coconut waters by buying it at the most ghetto store. $75 for 45 minutes of time with my family? Not worth it. I work hard. I value my time, but my wife doesn’t work and therefore she doesn’t really value her time.
When I want to go do something with my valuable time it’s either working, spending time quality time with family or doing something exciting like axe throwing. I saw this Connecticut Axe Throwing Article about the guys that call themselves Pine & Iron and it was awesome.
Drinking is not only damaging your income, but damaging you as a person. Walking out of a bar with a $75 bar bill hurts your bottom line and devastates your ability to save money for important things. The $75 you lose from 5 beers and 2 rounds of shots is meek in comparison to the amount of time you’re waste away.
Most states have a minimum wage around $15 and since you’re spending an average of 5 hours at a bar that’s $75 you could have earned. You could walk away that night with $150 if you think about it.
On the other hand if you’re a business owner then you have probably (if you know what you’re doing) set yourself up with a timeline of income producing activities.
Checking Social Media = $0 per hour
Emailing = $10 per hour
Prospecting = $100 per hour
Teaching Others to Prospect = $1000 per hour
Think about spending that 5 hours just prospecting for your business. That’s a cool $500 easy, but you have to deal with the delayed gratification. Many short sided people can’t deal with that delay.
Leave the 1 hour early and research on how to build a business. Watch this video for pointers.