Question of the Day: What's the most impactful purchase you have made recently for under $10?
Answers will vary.
Hat tip to Tim Ferris who asks this question of his podcast guests. Here’s a sampling of what a few celebrities said were the best thing they bought under $100:
- The right backpack
- $4 to park near a beautiful lake to take a swim
- Good, plain, no-lined Moleskine notebook
- A book for my son which we read together
- Shirt that says “I can do all things”
- Was your purchase a “thing” or an experience?
- What made this so impactful to you?
- Agree or disagree with this statement. The most meaningful purchases that you will make over your lifetime will be those that cost the most money.
Behind the numbers (Medium):
When facing life’s questions, who do you turn to for advice? For me, I turn to experts. In the past year, I had the opportunity to ask over 100 brilliant people 11 questions as I put together for my most recent book Tribe of Mentors. One of my favorite questions I sent to each was: What purchase of $100 or less has most positively impacted your life in the last six months (or in recent memory)?
Isn't it interesting that small purchases can be so impactful? Our Behavioral Finance mini-unit has more interesting insights into human nature.
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
To get access to NGPF answer keys, assessments, and teacher-only resources: create a FREE Teacher Account