04.21.08
Getting Paid to Save : A personal productivity & money management formula
How can my money work for me?
Usually this question is met with a variety of options on how to SPEND or KEEP money. This article is neither, and there are plenty of websites with ideas for that. Amazon, Get Rich Slowly, and The Motley Fool come to mind for resources as to what to do with your money once you earn it.
The inquiry explored here deals directly with the idea of money, what it means, and how that meaning can motivate you to action.
Money means survival in society, where we all exchange our skills for scraps of worth which can then be exchanged for housing, food, sex, guitars, whatever our whimsy might fancy. Here is the hold we must place on ourselves, for our whimsy has never done us any good but short-term amusement. Not that there is no place for recreation, but we’re talking about survival and being effective human beings here!
On to the method: (Please bear an open mind, this is untested and just an idea, not well thought out)
- First, your discretionary funds, are no longer yours. Ow. (What do you mean, no candy?)
- Budget food, bills, rent and savings, the rest, you have to earn again. (But it’s my money!)
- Give yourself a fair wage for doing things which are necessary or enjoyable. (Cool, $10 for doing the dishes!)
- Don’t forget to pay yourself for doing fun stuff. (watching tv doesn’t count)
Of course, there could be some ancillary benefits, getting the idea in your head that playing piano is a paying gig, could lead to the realization of that idea. Or, saying to yourself, if it’s worth $25 to clean the kitchen, I’d rather HIRE someone to do that for me and have that time to myself.
In summary, this method should, in theory, allow one to save more, get things done, consume less, and feel good about getting things done while making the idea of money do some of the motivational legwork we all need.
I will write in this space regarding the success or failure I have with this method.
PS: I made $20 writing this article… ;)
Ulyana said,
June 26, 2008 at 1214503004
I was joking with a friend of mine that, since I am the only person I know who can give the best manicures, I should transfer $50 into my savings account (my manicures are worth more, they are that good, not that you, as a guy, would care) every time I do one (just for myself). It just seems such a great way to show yourself how much money you are saving by doing things yourself. If something’s taking you too long or costs you too much in terms of your own time and/or money, then purchase that service/thing and maybe put the difference in the savings account.
Sean Canton said,
June 26, 2008 at 1214503499
Lol! Excellent! I’ve banked over $200 for playing piano! I should start charging myself for cooking dinner too… I couldn’t bring myself to pay $50 for a manicure, but I’m sure it’s worth every penny. My fingers are looking a little unkempt however… ;)