Sacrifice Box

 

According to the National Debt Clock the average debt per person is $85,000.

I was only in debt once in my life when my mother was dying, I couldn't work full time and I used credit cards. It took me several years to work my way out. I promised myself never again.

I'm also a minimalist. I don't want things that exceed my closet, my office shelves and book shelves. If there's more than that I don't need it.

I also mull over every purchase as to its need (and desire). 

Maybe it was years as a single mom, although I lived with a couple for many years and that reduced expenses that I decided spending should be a careful decision. 

Besides my three criteria for buying some, useful, beautiful, memory, I used to think in terms of the amount I had to work to pay for the item. Saying that, many of my jobs were enjoyable and career builders, but they were still not the way I would have spent my precious time of earth if I hadn't needed a salary.

An example. I needed boots. There are two pairs, both comfortable, attractive and of good quality. For the sake of easy math, say I made $20/hour. Salaried people can compute their hourly wages too.

One pair of boots cost $200. One costs $100. If I bought the $200 that means I would have sacrificed one day and two hours to get those boots. If I bought the $100? Only five hours of my life would be sacrificed.

Now if I charged the boots, the interest would be tagged onto the cost of the boots. If I paid late or missed a payment, the cost of the boots would go up and I'd have lost more hours of my life.

Exercise: Go through your house and write down all the things bought that aren't used or duplicated, triplicated and what was paid. How many hours of your life did you sacrifice by working to pay for them? If you paid by credit card any idea of how much interest? What would have been a better use for that money? Travel? Savings? Rental property that generates income?A hobby?

The photo is the cover of a book by Martin Stewart.