The dollar an hour trick

“Life is pretty simple: You do some stuff. Most fails. Some works. You do more of what works. If it works big, others quickly copy it. Then you do something else. The trick is the doing something else”
Tom Peters

We all get bombarded with so much advertising that it’s pretty easy to fall victim to the impulse buy. A few of those a day add up. Go out shopping for produce come home with a bigger TV and you’ve quickly lost the investment opportunity that earned cash brings.

One of the ways to prevent random overspending is to implement a strict dollar per hour policy. Say I go ‘hey I need a can opener!’ the impulsive me rushes out, but he doesn’t buy the $4 option. He buys the $25 electronic option with the built in juicer. This is why my default setting is to body check this behaviour by saying ‘$4 = a 4 hour wait and then if I still want that can opener I go get it’.

The only time I deviate from this personal policy are for real emergencies. In my experience it is best to pay for that medicine right when you need it. I also get stuff when on a couple of consecutive days (usually 3-5) I have wanted to get the thing.

Tricks like this keep $ in your wallet and $ in your wallet eventually get into your call account where they are put to work making you some more lazy income. I particularly like lazy income because I feel less guilty about being idle myself!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s