How dicounts and sales keep you broke!
“Waste no more time arguing what a good man should be. Be One.”
Hello Ninja,
Have you ever been excited about a SALE? Well, I was stoked for my first Black Friday Sale in Canada 2 years ago. I was making $25/hr doing Uber Eats at that time.
Nike shoes/Jordans at up to 50% off! Are You kidding ME!
At that time, I used to live in Downtown Toronto near Eaton Centre. This sale was at the Vaughn Mills Shopping Mall. I took the Yellow Line subway to the last station and then a blue bus(1 hr).
As soon as I reached the place, I saw this huge lineup getting bigger by the second. I quickly got off and ran to secure my spot.
I stood in the line daydreaming about my new fancy shoes. The new shoes would turn heads. The new shoes that would make women fall for me. lol.
I was dumb.
After 90 minutes of waiting in line and another 30 min trying on different shoes and sizes, I came out 2 hrs later with a new pair of black Nike shoes. Yesssss!
I calculated on the way back, how much money I saved- $40(40% off)
I felt good. Mission successful.
I then calculated how much I spent; the calculation blew my mind.
1. Transport- $15
2. Opportunity cost- $125. I would have made this if I did Uber Eats instead of wasting 5 hrs.
”How the hell does this make any sense!” I thought. I could have done Uber Eats and ordered these shoes online at full markup and that still would have been cheaper.
(I am laughing writing this. lol)
That is when I understood the hidden cost of wasting time.
You see, time is limited. You can always make the money back but never get the time back.
Why am I telling you this?
See, the point is that you could have been making the same mistake.
Most people know joining the coaching will get them the job faster and thus make them more money but people still waste their precious time.
Even if you would have saved 1 month in the worst-case scenario, that’s 2 extra paychecks. That pays for coaching multiple times! (A $70k job is roughly $2200 biweekly after tax)
Poor people spend time to save money. Rich spend money to save time.
Which one are you heading towards? Break your bad habits!
Remember, your PGWP is limited.
Aim Higher, Be Better
Ishank Tandon