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The Value of Your Dollar

Hello Readers,

You've heard of voting with your dollar, but have you considered the value of your dollar?


In addition to reflecting on your spending categories, there are two other ways you can think about where your money is going. By:


1) looking at how much you're making (salaried or hourly), and

2) calculating how much you're using an item once purchased.


First, if you're netting $20 and hour and paying $60 for brunch every weekend, you're costing yourself three hours of work to pay for those brunches. Is that worth it?


Second, when buying an item, how often you expect to use it is a good indicator of the item's value. If you spend $100 on something and use it once, it costs $100. If you spend $100 on something and use it every day for a year, it costs ~$0.28 a day.


These money perspectives are great to apply to "wants" purchases because they force you to evaluate your time and how you're utilizing your income. They directly correlate.


Have you used either of these?


Happy savings,

Lady

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