So what’s the point? The point is that when we focus on saving money, we ignore the real costs. Because money is only one measure of value. We have other things that are far more valuable than money. These are time and effort.
Reason #6: Saving Ignores the Actual Costs
It’s very easy to spend a lot of time, energy and effort trying to save a small amount of money. For example, driving an extra 30 minutes to save money on gas gives us a very low return on our time and effort. Another example is people who spend two or three hours each day commuting to work. Besides costing money and gas, they have extended their working day by 20% or 30%. This in turn, robs them of time and energy that they could spend doing something productive.
On the flip side, there are things that people spend money on that consume all their time. The most popular is television. The person might say, well, I only paid $300 for the TV set. But actually, if you consider what the person could have done with the time that they spend watching, the cost is far greater. They could have built a business, become an investor, or gotten rich in any number of ways. They could have built the most popular blog on the Internet. The possibilities are endless.
So, what if we consider how much value we are actually getting when we save a few dollars? Perhaps we could ask, “Is it really worth spending the time and effort to keep this money?”
Related posts:
- 7 reasons Why Saving Money Makes You Poor: Reason #5
- 7 Reasons Why Saving Money Makes You Poor: Reason #3
- 7 Reasons Why Saving Money Makes You Poor: Reason #1
- 7 reasons Why Saving Money Makes You Poor: Reason #7
- 7 Reasons Why Saving Money Makes You Poor: Reason #4
http://www.onlineinvestingai.com/blog/2009/02/17/7-reasons-why-saving-money-makes-you-poor-reason-3/
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