Of course you know you paid $1.60 for that coffee. Of course you paid $10 bucks for that great shirt on the sales rack.
But do you know how much you paid for it in relation to what you earn.
Here’s what I mean. If you make $15 dollars an hour where you work and you spend $1.60 for that coffee, how much of your hour is going to coffee.
In sixty minutes you make .25 cents a minute. 15 divided by 60 = .25 cents
1.60 (coffee) divided into .25 (per minute) = 6.4 minutes
Not too bad. But what about the shirt. $10 divided into .25cents (per minute)= 40 minutes
So you had to work 46.4 minutes for that shirt and coffee and you haven’t paid any bills yet.
Now the one thing you might notice is that a lot of us are getting paid way below what we need to survive when you look at what we get to what we pay out, but this exercise is to make you realize that if you start calculating how much you have to make for the few things you buy, and in turn you might find ways to save your money when you see how quickly an eight hour day can be spent without a thought.
Now some of you may deem that your cup of java is worth the 6.4 minute a day or that shirt is really needed and you got it at a great deal.
We are not going for guilt here. We are going for awareness.
And the awareness is: How long do I have to work to get this?
If the time you give is too much for your liking then you either you have to change you salary situation or you have to budget differently and live by your means.
And remember. If you can get it for Free as I will as I go get my office provided free cup of coffee. Free is always good!