There comes a time when it’s too late to tell people how you feel.
There will come a day when the person you mean to talk to won’t be there. Don’t wait for that day.
“There’s always tomorrow” isn’t always true.
Twitter Weekly Updates for 2010-06-05
- Working on my day off and watching Teenage Mutant Ninja Turtles. #
- Sushi-coma time. #
- To all the vets who have given their lives to make our way of life possible: Thank you. #
- RT @jeffrosecfp: While you're grilling out tomorrow, REMEMBER what the day is really for http://bit.ly/abE4ms #neverforget #
- Once again, taps and guns keep me from staying dry-eyed. #
- RT @bargainr: Live in an urban area & still use a Back Porch Compost Tumbler to fertilize your garden (via @diyNatural) http://bit.ly/9sQFCC #
- RT @Matt_SF: RT @thegoodhuman President Obama quietly lifted a brief ban on drilling in shallow water last week. http://bit.ly/caDELy #
- Thundercats is coming back! #
- In real life, vampires only sparkle when they are on fire. -Larry Correia #
- Wife found a kitten abandoned in a taped-shut box. Welcome Cat #5 #
Delayed Gratification, Take II
How much would you pay for a kiss from the world’s sexiest celebrity?
That was the focus of a recent study that I can’t find today. There is no celebrity waiting in the wings to deliver the drool, and the study doesn’t name which celebrity it is. That’s an exercise for the reader.
This was a study into how we value nice things.
The fascinating part of the study is that people would be willing to pay more to get the kiss in 3 days than they would to get the tongue slipped immediately.
Anticipation adds value.
Instant gratification actually causes us to devalue the object of our desire.
This goes well beyond “Will you respect me in the morning?”
The last time I talked about delayed gratification, it was in the context of my kids. That still holds true. Kids don’t value the things that are handed to them.
The surprising–and disturbing–bit is that adults don’t, either. If I run out to the store to buy an iPad the first day I see one, I won’t care about it nearly as much as if I spend a week or two agonizing over the decision.
The delay alone adds to the perceived value. The agony turns the perceived value into gold.
If I spend a month searching for the perfect car, the thrill of the successful hunt adds less value than the time it took to do the hunting.
Here’s my frugal tip for today: Delay your purchases. While it may not actually save you any money, you will feel like you got a much better deal if you wait a few days for something you really want.
Optimized to Go, Part 1
Last weekend, we held a garage sale at my mother-in-law’s house. It was technically an estate sale, but we treated it exactly as a garage sale.
A week before we started, a friend’s mother came to buy all of the blankets and most of the dishes, pots, and non-sharp utensils so she could donate them all to a shelter she works with. She took at least 3 dozen comforters and blankets away.
Even after that truckload, we started with two double rows of tables through the living room and dining room. The tops of the tables were as absolutely full as we could get them, and the floor under the tables was also used for displaying merchandise.
Have you ever had to display 75 brand-new pairs of shoes in a minimal about of space? They claimed about 16 feet of under-table space all by themselves. Thankfully, the blankets weren’t there anymore.
We also had half of the driveway full of furniture, toys, and tools.
We had a lot of stuff.
Now, most people hold a sale to make some money. Not us. We held a sale to let other people pay us for the privilege of hauling away our crap. As such, it was all priced to move. The most expensive thing we sold was about $20, but I can’t remember what that was. Most things went for somewhere between 25 cents and $1.
At those prices, we sold at least 2000 items. That isn’t a typo. We ended the day with $1325. After taking out the initial seed cash, lunches we bought for the people helping us, and dinner we bought one night, we had a profit of $975.
At 25 cents per item.
We optimized to sell instead of optimizing for profit. At the end of a long summer of cleaning out a hoarding house, it all needed to go.
In the next part, I’ll explain exactly how we made it work.
Mariano Rivera: Rags to MLB Riches
Mariano Rivera is the most dominant closer in the history of baseball. His cut fastball, or cutter, is considered by many to be the best pitch in the history of the game. He is the all-time saves leader, and he has five World Series rings that he can wear. Of course, he has made millions of dollars over his professional career, which has brought him a long way from his humble roots as the son of a Panamanian fisherman.
Rivera’s journey began in Panama City. He was born on November 29, 1969. His father was a fisherman in the small fishing village of Puerto Caimito. Like almost every boy in Latin America, his earliest athletic experiences were playing soccer. However, he also played baseball as well. The area was so poor that not many people actually owned baseball gloves, bats or balls.
Instead, Rivera and his friends would play games with tree branches for bats. They used milk cartons instead of gloves, and they taped together pieces of old fishing nets to use as balls. Rivera didn’t have his first real leather baseball glove until his dad bought him one at the age of 12.
Rivera liked baseball, but he never thought he would one day make a living at it. Instead, he dreamed of playing soccer professionally like most Latinos. However, he suffered a series of ankle injuries during high school that shattered this dream. He finished school at age 16 and began working on his father’s fishing boat. He had to abandon ship when the boat capsized, and that scared him away from fishing forever.
Soon after that, Rivera started playing on a local amateur baseball team, Panama Oeste. He was the team’s shortstop, and he only started pitching because the team’s normal pitcher was in a slump. His teammates were so impressed with his pitching skills that they convinced the Panama scout for the New York Yankees to give him a tryout. Rivera went to Panama City for a Yankees tryout camp, and the Yankees signed the man who would become one of the greatest players of all-time to a contract worth just $3,000.
When Rivera came to the United States, he did not speak English and was incredibly homesick. Puerto Caimito did not have telephone service at that time, which meant Rivera could only communicate to his family back home by writing long letters.
Rivera made steady progress through the minor leagues, but it was still five years before he was called up to the big leagues. His first few years in the major leagues, Rivera made the minimum salary of $750,000. This is a small figure by American standards, but it is more money than most people in Panama can dream of.
Rivera still goes back to Panama every year. He feels it is a home and that he is a part of it. His riches have never transformed him into a diva. He is one of the most down-to-earth and genuinely friendly players in the game.
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Twitter Weekly Updates for 2010-05-08
- The Festival of Frugality #278 The Pure Peer Pressure Edition is up. All of your friends are reading it. http://bit.ly/aqkn4K #
- RT @princewally: Happy StarWars Day!: princewally's world http://goo.gl/fb/rLWAA #
- Money Hacks Carnival #114 – Hollywood Edition http://bit.ly/dxU86w (via @nerdwallet) #
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