Underrated Success Tactic: Actually Doing the Math
Doing the math
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Doing the math for better decisions
Doing the math
SIMILAR ARTICLES & IDEAS:
Get The Most Out Of Your Time
It starts with knowing what your time is worth. For instance:
Monetary Value of Time
We all have some idea of how much our time is worth. On extreme ends, it is easy to know if a task is worth your time. For instance, if someone offers you $0.07 per hour and another $7,000 per hour, you would have no problem to decide.
However, in the middle of the time-value spectrum, it is less clear if a particular task is worth your time. While everyone has an hourly value, few people know the exact amount.
The Real Worth Of Your Time
Use the Realized Income Methods to calculate the value of your time. It is based on the income you received and will help you make better decisions on how to spend money day-by-day. You need two numbers for your calculations.
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The zero-sum budget
Using this method forces you to “spend” every dollar that you make, by allocating all of your earnings into the different categories that your finances require.
It prevents waste and m...
Steps of the zero-sum budget
Never Lose Money
If you work from a loss, it's much harder to get back to where you started, not to mention ea...
High Value at a Low Price
You lose money when the price you pay does not match the value you're getting. For example, when you're paying high interest on credit card debt or spending on stuff you hardly use.
You gain money when you look for opportunities to get more value at a lower price: For example, buying quality merchandise when it is marked down.
Form Healthy Money Habits
Most of your behavior is habitual. You can change your habits and the earlier you start, the better.
Saving is a habit. Learn the habits of saving properly early. Pay attention to your money habits. Strengthen those habits that help your finances, and break the habits that hurt your finances.
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