I had a friend e-mail me some thoughts about money the other day, and I loved it! With his permission, here are Joe Hall's thoughts …
I started thinking the other day about all the "little" things people daily spend "just a little" money on. Stuff like soft drinks, Starbucks, cigarettes, vending machine snacks or whatever. All those things seem "little" because the amount paid for them daily seems "small."
Then I thought about this: what if there was only one day a year you could pay for those things? (In other words, folks had to buy all their Starbucks, snacks, cigarettes or whatever for the year up-front, in one single payment). Can you imagine the shock … and maybe even the re-ordering of priorities?
- 1 Coke + 1 Snack from the vending machine at work
- 0.75 + 0.75 = $1.50 x 5 work days/week = $7.50 weekly x 50 weeks per work year = $375 (pay now)
- 1 Starbucks coffee per day; Monday-Friday
- $4? x 5 = $20 per week x 50 weeks per work year = $1000 (pay right now)
- Sweet Tea with Lunch
- $1.50 x 2 lunches per week = $3 x 52 weeks per year = $156 (due today)
- Cable TV Service
- $29.95 month x 12 months = $360 (pay right now)
I hope that makes sense … it sure came as a shock and made an impression on me about how easy it is to fritter money away on a daily basis, without realizing how "little" things get Super-Big in a hurry.
Joe's thoughts reminded me of a book I read written by an official "www.JosephSangl.com" Financial Hero – David Bach. He writes about the "Latte Factor" – the money that we tend to unconsiously spend throughout our day. He believes (I agree with him!) that this money would be better directed toward savings, eliminating debt, or investments!
Thanks, Joe, for sharing!
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