Money was Time

Photo by Aron Visuals on Unsplash

We all know the phrase ‘Time is Money’.

I like to turn that around to ‘Money was Time’ to challenge my thinking about money and spending.

You probably worked to earn that $20 bill in your pocket, which took some time, maybe an hour, maybe more, maybe less.

That $20 was (your) time.

Let’s expand on that and other ways to challenge our views of money and spending.

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Thrifty Saving

Photo by chrissie kremer on Unsplash

Hello everyone.

Way back in the ‘Doing More with Our Money’ post ‘Just Ask’, we talked about honing our ‘Just Asking’ (for a discount) skills by starting where it’s more common to receive discounts. This included garage sales, online marketplaces, flea markets, etc.

Besides being able to improve our negotiation skills, buying second-hand items is a really great way to save money, not to mention the environmental benefits.

Call it second-hand, used, pre-owned, thrift or consignment, it really doesn’t matter.

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Does It Take Money to Save Money?

Photo by Damir Spanic on Unsplash

We all know the saying ‘it takes money to make money’.

Often it also ‘takes money to save money’.

Looking back at previous DMWOM posts, there are several instances where my money-saving suggestions do require us to have extra money.

In the ‘Bulk Buying’ post, I talked about buying large quantities of consumables on sale.

I quoted Mark Cuban saying “ you’re better off buying two years’ worth of toothpaste when it’s on 50 percent discount. There’s an immediate return on your money.”1

But what you if just don’t have the money to buy more than one tube of toothpaste at a time?

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Save Money Through Sharing

Photo by Pop & Zebra on Unsplash

I’m sure we’ve all had experience sharing costs, expenses and things we own, whether it’s renting a cottage, or sharing the cost of utilities with roommates.

In this week’s post, we’re going to talk about how we can save (and maybe even earn) money through sharing.

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It’s All In The Timing

Like BBQ’ing the perfect steak, to get good deals It’s All In The Timing

Last week I dropped by my local Walmart and loaded up on a year’s worth of office supplies. I also ordered a new laptop for my mother, which I’d spent 5 weeks hunting for.

Why did I buy so many office supplies, and take five weeks to buy a laptop?

As with many things in life, it’s all in the timing!

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The Sunk Cost Fallacy

Photo by Jason Blackeye on Unsplash

Have you ever gone to a movie, realized part way through you’re not enjoying it, but felt compelled to stay to the end?

You paid for your ticket – how can you not finish the film?!

If this sounds familiar, you’ve experienced The Sunk Cost Fallacy.

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Don’t Trust Your Brain

Photo by Morgan Housel on Unsplash

In my last two posts, I referenced the Marketing Placebo Effect (also known as The Pricing Placebo Effect, or The Placebo Effect of Price).

This phenomenon often makes us think an item is better simply because it’s more expensive.

We touched on it when comparing private retail brands to the more expensive national brands, and when comparing home renovation quotes.

In today’s post, we are going to dive deeper into this phenomenon, with the intent to recognize, and hopefully break, it’s power over us.

Spoiler alert! After reading this post, you may no longer trust your brain!

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Discounted Gift Cards

Hello everyone.

As you know, I like to save money on purchases. For anything I intend to buy, I hunt around for the best deal. One of my favourite deals is buying discounted Gift Cards (GC’s) or topping up accounts on discount prior to a planned purchase.

A perfect example occurred last week.

With Major League Baseball finally starting (go Blue Jays!), I bought the MLB.TV app to watch, as I don’t have cable. I saved 16% by buying the app through iTunes.

How? I had previously loaded up on iTunes gift cards when they were on sale at Costco; $167.99 for a $200 gift card. 16% saved!

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