Many times we focus on the short-term and fail to take the long-term price we are paying into account. Things feel “free” at the moment, but there are other costs to consider.
For example, it feels like putting one more thing in off-site storage is free, and while there isn’t an incremental cost, there is the recurring monthly bill to pay to store things that may not be worthwhile. Or another scenario: the credit card may provide airline miles which we remember as we complete each transaction, but we forget the several hundred dollar annual fee required to obtain those miles.
I thought about this when my mail carrier left me a postage-due envelope. It contained a handwritten name, address, zip, and carrier number, plus the amount due — 24 cents — written three times. There was no cash outlay to collect my quarter, but did the Postal Service consider whether it was worth the carrier’s time to weigh, write, collect, and process such a token amount?
ROI, or return on investment, is a core concept in the business world. It should be in our personal lives, too. Time, mental burdens, clutter, and decision-making all have a cost. Don’t invest your resources in anything that doesn’t provide you with a positive return in the long run, even if it feels like there isn’t a cost at the moment.
