Replying to Avatar The Frugal Fren

"How much work time does that cost?"

An interesting way to think about cost of an item is:

how much time do you have to work to buy that?

Hypothetical example:

iPhone 15: $800

Hourly wage: $15

Cost: 800/15~=54hours ~= almost 7 days

You can use this to justify if you really need that item.

#frugaltip #frugalism #frugal #minimalism #minimal #minimalistic #grownostr #nostr #coffee #plebchain #fire #financialindependence #lifestyle #savemoney #moneysaving #hardwork
Avatar
Dr. Hax 1y ago

Good perspective. Also remember that if your hourly rate is $15, that dosn't mean you actually take home $15 per hour.

And just a week or two to pay for a phone might not sound that bad, but when you remember there's food, rent, health insurance, medicine, etc. that all still need to be paid, it starts feeling much more expensive!

Reply to this note

Please Login to reply.

Discussion

Avatar
The Frugal Fren 1y ago

True!

Also comparing your work hours/cost between these groups could give another great perspective. E.g.: For how many weeks could you buy groceries if you did not buy that iPhone.