Comments | jericho_hill: The Value of Less

jericho_hill

The Value of Less

Apr 29, 2008 15:54

Managing a good personal finance lifestyle is not unlike managing a good personal health lifestyle. Temporary changes don't breed lasting results, but creating permanent changes does. For instance, my wife and I have actualized a commitment to eat healthier. In our diet we now have a decidedly larger proportion devoted to fruits and vegetables, ( Read more... )

Comments 8

nrubenstein April 29 2008, 20:39:14 UTC

Lots. :eeps:

jericho_hill April 29 2008, 21:08:08 UTC

Well, today's always a good day to get started.

I hope you're having a 4th of July fireworks party again!

nrubenstein April 29 2008, 21:54:12 UTC

Cooking? What is this cooking thing you speak of?

And yes, I'm definitely having a 4th of July party. I mean hell, I had a great time *and* it got me laid.

drederick May 3 2008, 01:25:59 UTC

Good lord, that's a lot of sacrafice for just $100k in 20 years. If you currently make enough to not get the rebate which is being sent out to almost everyone, you'll probably be making more than $200k / year in 20 years.

You wouldn't give up half your income for 1 year, 20 years in the future, to be able to enjoy multitudes of restaurant meals and not waste time brewing coffee from now until then?

I have a better idea: enjoy fine meals, value your time by buying lattes, and value your time by hiring a kid to mow your lawn. (actually eating out should save you time too). Allocate your time saved this way: 20% exercising (since you'll no longer be mowing), and 80% performing better at your job. Over time, the impact of the latter should more than make up for what you'd be saving via your current techniques.

jericho_hill May 3 2008, 03:29:54 UTC

I'm not denying myself anything I enjoy, just being smarter about how I spend my money.

As for performing better in my job, that's what going back to school is for. I can't really, honestly, perform better at my current job than the level I'm producing.

jericho_hill May 3 2008, 03:32:27 UTC

FYI, the income to not receive the rebate is about 170K a year.

I also don't see how eating out will save me time. One spends an hour waiting in a restaurant for food service. Perhaps I enjoy creating meals at home? After all, if we're maximizing utility, shouldn't one do what one enjoys?

drederick May 10 2008, 07:21:21 UTC

OK, so if you make more than $170k then my advice is even more applicable.

>>I'm not denying myself anything I enjoy,<<

I bet you enjoy free time..

>>I can't really, honestly, perform better at my current job than the level I'm producing.<<

OK, then spend the free time that my advice will give you studying so you can make the most of your education.

>>I also don't see how eating out will save me time<<

You don't need to go to a fancy restaurant. I bet Chipotle makes tastier burritos than anything you could do at home, in about 5 minutes. Or you can order takeout or something from a normal sit down restaurant so you don't have to spend time waiting. Or, bring your laptop or textbook to the restaurant so you can do stuff while you wait.

>>Perhaps I enjoy creating meals at home?<<

OK, but just realize that your preference for creating your own meals is costing you $ in the long run, if you could otherwise use the time to profit or make yourself more valuable.

jericho_hill May 10 2008, 14:40:00 UTC

One cost you're ignoring is that eating out is quite unhealthy compared to self-prepared meals. Isn't it typically true that restaurant / fast food tends to be over-portioned, over-salted, and generally harmful for ones health (America's obesity problem, I'm looking at you).

Further, I don't see how I'm costing myself money here. How much time in our day can we spend working or studying? Isn't time needed to unwind, destress, relax. Could cooking be a destressor (evidence suggests such). Or walking your dog?