True Cost And Value
Updated: Jan 10
So you’ve just run in to buy an item that usually cost’s $100, the good news is, there is a 70% sale on.
Great – you’re buying!!
The question now is - did you just save $70 or did you spend $30?
Would you have still bought the item at the original price?
It’s now often the case that we place more value on the price than the actual item or experience we are buying.
We go out seeking a good deal – even when we may not actually need anything.
We put so much emphasis on what we are spending and very little emphasis on what we are actually buying.
Herein lies the problem and the reason you may often feel un-satisfied not long after you've made a new purchase.
As soon as one sale ends, another inevitably begins – we are caught chasing the 'SALE' because that's where the thrill is and as you know, that thrill is short lived and the sales cycle never ends!
The bottom line is, what you’re willing to pay for something is ultimately a reflection of your priorities and how much you value it – which is exactly how it should be.
When was the last time you felt that something was actually ‘worth’ paying full price for?
As you look towards your next purchase, you do have a choice to consider – should you spend less per item on many MORE 'things’ – or should you maybe spend a little more per item on LESS 'things’?
Which would you prefer?
What would be more beneficial to you in the long run?
The problem with trying to quantify the true cost of something is that we often believe that what you spend at the check out is what it actually costs you.
We rarely take into the account the cost of bringing it home.
The cost in time and money to maintain it;
The cost of needing to store it;
The cost of worrying about it;
The cost of having to repair it;
The cost of needing to replace it;
The cost of disposing of it;
In the same way, we rarely stop to consider the real life benefits an item or experience may bring with them.
Sure, it may have cost a little more but do you take the time to consider it's real value?
It's made really well; means I won't need to replace it anytime soon
It's a classic item; it won't go out of style, so I can wear it longer
That food costs a little more, but it's clean and more nutritious, won't need to eat as often and I won't need to spend as much on my health if I'm not getting sick
I will learn about myself and make new friends; it will help me make wiser choices in future and probably actually save me money
My purchase made a contribution to someone or something I consider important
I get to experience new cultures; which will help me put my life into greater perspective and show more gratitude.
I may not be earning as much, but I get to spend more time with people I care about
The secret is to see the big picture, to play the long game and not get so caught up in short term thinking and gratification.
Your values (and what you value) should help inform your priorities and what you spend your time, money and energy on. Your resources are limited, so you should be looking to use them on the things that matter most.
A little exercise for you. From the list below, what do you value most?
Getting a good deal
Your health and well being
Clothes and accessories
Travel and culture
Owning a house
Personal growth and development
A new car
Friends, family and community
Doing things that make you happy
Next time you’re out looking for a sale – take a moment to think about what you actually need and why you need it, what matters most and then use that as your guide - you’ll find it will relieve a lot of pressure and make things a little simpler to digest.