A friend of mine is living in Hong Kong. He’s renting a very nice apartment that costs him $10k a month.
But business is doing very well for him, and he’s considering moving. He could get a slightly bigger house in a slightly flashier neighbourhood for $15k a month.
He asked for my advice.
(Can I just say how much I love when people ask me for my advice? I often have to stop myself from giving unwanted advice… but when people actually ask me, so good.)
I said to my friend, $5k a month is about $160 a day. So imagine every time you’re driving home from work, you can turn into the new house, but you’d have to take $160 out of your wallet and pay to enter. Or you could drive to your existing house and keep the $160.
How often would you want to pay the money?
The answer was: perhaps once or twice a week.
I think this is a great way to think about big purchases. What does it cost per day? Or per use? And would you be happy to pay that every time?
