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How To Tell If You Can REALLY Afford Something
Teaching What School Doesn
Noah Brierley
April 02, 2024
Read Time: 3 minutes
👋 Hey guys - Noah here, this week I’ve continued on the side hustle of Dog sitting. It’s been so fun living in an awesome house, looking after a fun dog + getting paid!
In today’s edition, we are looking at
💸 Easy methods to tell if you can ACTUALLY afford something
🤑 Awesome strategies + free teaching to help you earn more
🔍 How to Discern if a Purchase is Truly Worth It
It's easy to get caught up in the moment, especially with that 'Buy Now' button glaring at us.
School didn’t teach us the skill of analysing whether you actually need what you are buying…
Learning these will change the game 👀
⏰ Work Out the Cost in Hours
That $200 pair of trainers actually cost 13 hours of your life (assuming you bring in $15/hr).
In other words, 2 days of your life working.
Whenever you buy something, break down the cost into “How many hours did I spend working for this?”.
You’ll realise the importance of spending your money when you think this.
💰 The "Afford It 10 Times" Rule
Before splashing out on that must-have item, ask yourself: Could I buy this 10 times with the money in my bank right now?
If the answer is yes, you're in a comfortable position to make that purchase.
This rule helps ensure that you're making purchases well within your means, promoting financial stability and peace of mind.
🗓 The 5-Day Rule
Before making any non-essential purchases, give yourself a 5-day cooling-off period.
If you still believe it's a must-have after those five days, it's likely a worthwhile investment.
This method is perfect for combating impulse buying and ensuring your purchases are genuinely meaningful.
🤝 The Swap Method
For every new purchase you're considering, think of something of similar value you can swap out or remove from your life.
Not only does this help maintain a balanced budget, but it also encourages a minimalist and more intentional lifestyle.
What did you think of these tips? |
👀 Things I’m Liking Right Now:
Simon Squibb just dropped this 2 and half hour master class 📗
This guy knows his stuff, achieving crazy success in business
He gave all of his knowledge away for free in this, I’ve been GLUED
I would have easily paid $400 to hear this info!
My free Doc, helping you design your dream side hustle + life! 📜
I have spent a long time creating this doc that lines out my process to creating my dream side hustle
A side hustle that meant I earned more than my teachers before leaving college
I want to give it to you for free, click
I recently appeared on a Podcast! 🎙
I loved the vibe of it. It was low budget, small and intimidate
Was just me and four boys chatting honestly, dropping some gems!
I share my exact journey and steps to becoming a content creator
Important Links 🔗
If you haven’t yet, join the “Teaching What School Doesn’t” Skool community. It’s free and has tons of extra value on managing, investing and making money. 💸
LOADS of you have been using my free Budget Calculator.
I reply to every email, so send any questions through! I’d love to help you.