What Is the Value of $80?

I oscillate between frugality and stupidity.

How often do we think about our expenditure patterns? Probably not a lot and that is why it can hurt our brains. Actually, the reverse might be true. Precisely because it hurts our brains and therefore, we don’t engage in it.

Being frugal is easy because it is absolute. If we don’t want to spend, we don’t want to spend. Being stupid with our finances is easy. We spend because we want to, not because we need to.

Thinking is easier when we think of issues using both points of the pendulum. We love stereotypes. It saves time. However, is that always the best way to think about things?

A recent outdoor episode taught me a different life lesson.

I was out meeting clients, shuttling across venues. The funny thing about that day is physical meetings got sprinkled in between a series of Zoom conferences. You cannot imagine how annoyed I was with my Executive Assistant.

In any case, I only realized it when I was out so it was too late to make any amendments. I went along and met everyone I was due to meet. It was so refreshing to meet people face to face actually. In fact, it was so refreshing, that I didn’t mind traveling from one point of the city to another.

It is complicated, I know.

When I was done with the second appointment, I checked my calendar. The third meeting is a Zoom video call in 30 minutes. I looked around the café I am in. It was filled with noisy students. Not a brilliant spot to talk business.

Since I was in the city, other cafes are not likely to be quiet either.

I looked within my line of sight, and I spotted a hotel. A thought came to me and I started researching their website. It says $80 per 4 hours. A simple calculation at the back of the napkin says $20 per hour.

Then I was caught in a box. Should I spend that $80?

The frugality mindset in me responded to that question in a negative fashion. It is just a Zoom video call. I can take it anywhere, and use a virtual background to hide everything that is behind me. There is no need to shell out $80 at all.

I thought about it. I didn’t agree with my frugality mindset at that time. When it comes to communication, the opposite party’s discomfort could be felt. I can hide the background. I cannot conceal the fact that I will struggle to listen, to focus.

Also, I will not be able to give full attention to my prospect. It is approaching mid-day, and that means the lunch crowd will soon appear. There will be too many distractions floating right in front of me.

I made a quick decision. I made my booking on the website and quickly shuffled across the road. The keys were delivered to me in double quick time, and I arrived at the hotel room 10 minutes before the Zoom video call.

I switched on the laptop, connected to the prospect’s zoom invite, and went to take a quick biological relief.

When I got back to the table, my gut tells me that it was a good decision. The café I was in just 15 minutes ago was right in front of me when I stared out of the window. It was packed. At that moment, I was beyond relief.

The Zoom video conference went really well, and I managed to close the first part of a staged deal. When I exited the video conference, I remembered feeling glad to make the right decision. Had I not shell out that $80, I might not be able to give 100% of my focus to the prospect.

I might have lost a potential deal.

When the prospect replied to my proposal for a 4 digit deal, I looked at the invoice at the table. That $80 was well spent. It was $80 in exchange for $1,500 (thereabouts).

What if I lost the $1,500 deal because I wanted to save $80? I would have preserved my savings and lost my income.

Money is an interesting topic.

The important thing how we think about it.

Being frugal is an important mindset to have, no one aspires to be bankrupt. That said, we have to measure our spending on income.

Are we getting more than we spend?

If we do, we should spend it.

How Do You Think About Spending?

Aldric

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