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There are two ways to be careful with money. One group tracks what they pay. The other tracks what they get back. Only one builds wealth.
Show Notes
There are two ways to be careful with money. One group tracks what they pay. The other tracks what they get back. Only one builds wealth.
Featuring: Henry David Thoreau
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"The cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run."
Henry David Thoreau
There are two ways to be careful with money.
One group fixates on the price tag. They compare options, hunt for deals and feel a pang when they spend. The metric is: how much did I pay?
The other group weighs the price against what it gives back. The metric is: what did I get for it?
Both are cost-conscious. One builds wealth. The other saves on every purchase and still falls behind.
I just upgraded my Kindle. It wasn't cheap. But the old one was costing me thirty-plus minutes of deep sleep onset each night because of the screen's melatonin suppression. "Free" was the most expensive option I had.
Cost awareness is how you get ahead. The trap is watching the wrong part of the equation. Track only the price and you'll pass on the things that pay you back.
Are you tracking what you spend or what you get back?