- Joined
- Jul 26, 2007
- Messages
- 2,215
Rep Bank
$1,830
$1,830
User Power: 23%
It's comical how some people see the value of a "few dollars", yet cannot fathom the same when the amount is larger. Probably a separate chapter in your book, MJ, but along the same lines of time wasters. IOW, some people will squabble over a purchase price of $25 vs. $20, but think nothing of buying a $25,000 vehicle or $250,000 home without haggling much (or even finding something just as good, while not as fancy) for a much cheaper price - thereby saving $1,000's, $10,000's, or even $100,000's.
I've heard these people called "Penny wise and nickle poor" and I think that's about as accurate of a description as you can get.
As far as the waiting in line 24 hours to save $200, this is really a three part reality as I see it.
First part, is strictly the monetary value of time from the perspective of someone who works 9-5. When you fall into the trap of linking your time directly to hours worked then this line of thinking makes sense. For example, if someone works 9-5 making $x/hour, and their income is shut off at 5pm, then yes, they might as well stand in line for 24 hours to save $200.
Second part is also a monetary value of time, but from the perspective of someone who been able to make money 24/7. These people view money as more of a constant in their life and not a variable. The money faucet isn't shut off at 5pm. Perhaps they invest in RE, stocks or have some sort of business that can function without them (or at least without them being there 40 hours a week.) These people realize that they make $x/hour around the clock, so since their earning power is 24/7, time takes on a different form of value. Waiting in line for 24 hours to save $200 probably means that they are losing money, as waiting in line isn't the highest and best use of their time. Their time is generally either reinvested into something that will make their income increase, or invested into their family, friends or something fun. ...The value of their time becomes more based on a quality of life.
In the quality of life value of time model, these people realize that they only get one shot here on Earth and value making a life more of a priority than making money. Not to say that these people don't value money, most of them are probably quite wealthy--however, their true definition of wealth is measured in more personal ways (health, family, etc.)
That's my 02.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today