GIVE YOURSELF A RAISE
In business you get two kinds of managers. Some are the classic salesman or entrepreneur. They are “Top Line” guys. By this I mean they care mostly about the top line of the income statement, which is the net sales line. Any problem, they feel, can be solved by bringing in more sales. They are usually right, sales covers many sins. Sometimes they are wrong, as there are times when their operation is set up such that their sales are unprofitable, meaning more sales means higher losses.
Then there are “cost control” guys. This kind, and I am one, more believe that sales has a limit and every dollar is precious, like a soldier you send off to war. This kind will watch the costs, watch the collections. and watch the day-to-day. Without the first kind, every business would be just a little corner store of sorts. Without the second kind, every business would spend itself bankrupt. McDonald’s in its formative years is the best example of needing both types. Ray Kroc was god at growing sales, but he did not really know how to make money. Harry Sonneborn was a genius at making money, but the fact that he sold hamburgers did not matter to him, he just knew the operation. Without both, McDonald’s would be a footnote in restaurant history.
SO HOW DOES THIS MATTER?
By now you have noticed that a Bachelor Pad Bum is not the guy who wants to work 60 hour weeks for all of the OT. He might be juggling a few smaller hustles to live with lower stress. Even if you do go the way of corporate life or get some six figure gig, why do you want to waste money? I have had people working with and for me, as always happens, they cried that they needed a raise. We had a program where they could pay for child care and medical expenses pre-tax (2 different plans, same result.) I suggested they take the plans, if they did they would have saved $250-500 per year. They not only turned me down flat, some got angry I even suggested it. With one group, only two of us took advantage. My attitude became anyone who wants a raise and does not help themselves first is not someone I will go to bat for getting a rains.
COSTS AND SAVINGS ADD UP
I say this all over this site, but costs add up. Back to coffee. Every $1 a day you spend is around $200 per year, allowing for a 5 day work week with some holidays and vacations. Go to Starbucks and you are lucky to get out for $3, but it might be $4.50-5. $4 a day is $800 per year! Starbucks has mastered the upsell of the humble cup of coffee. They are all over, and the lines are huge. They have good stuff, but it costs.
$7-10 for lunch is common these days. Looking at $2,000 per year if you do that daily. What if you buy lunch and coffee? $2,500 plus per year?
THERE IS NOTHING “GIRLY” OR “UNMANLY” ABOUT FINDING SAVINGS
Some guys look down on people who look for savings. They might be called “cheap.” There used to be a thing about how does it look if a guy used a dinner coupon on a first date (IOW, would a woman who was not paying anything think less of the guy who saved some money for himself. Think about why should you worry about that!) Really, one thing I have found is that the people who make less money are usually less likely to look for deals. Those who make more money always are looking out for deals. I have been around groups of people who all but me were probably making at lease six figures, and they happily discuss how they saved a few bucks.