I’m reading the book that started the FIRE movement back in the 90’s – Your Money or Your Life.
While a lot of the tactics aren’t a good fit for our Financial Zen community, I HAVE gotten some new perspectives from the book’s strategies.
So here’s a new twist on something I write about regularly – buying money with your time.
It’s Saturday, which means this is your weekly reminder to review your 30 day spending.
As you do, convert the money you spent into how many hours you worked to buy it.
First divide your annual target comp by 2,000 to calculate your “hourly rate.”
For instance, if you make $200k, your hourly rate is $100/hr ($200,000/2,000).
Then divide any given category by your hourly rate to see how much you worked for that expense.
For instance, if your hourly rate is $100 and you spent $800 on eating out, then you “purchased” those restaurant meals with 8 hours of work. ($800/$100 = 8 hours)
Nicole and I just did it for our Weekly $MORSECode and it definitely makes you reevaluate how you spend your money.
Hope you’re enjoying the weekend!
