With the rise of credit cards and other non-cash way of payment options, we are all losing the track of our expenses. Honestly without help of spreadsheet I have no idea how much I spent on food, bills, entertainment, clothing, other expenses and stacking up monthly installments of previous purchases.
Essentially, money is time and time is piece of life we can never get back. That’s like every price label is actually how much of your life that item/service costs.
With those thoughts of my mind, I made a simple calculator for Android which I try to check before making a purchase, converting currency to life span. There are quite similiar other applications or websites, but hey I like to build, experiment and learn during the process.
By the way, I used Ionic framework to build the application, that’s some hybrid mobile framework built on AngularJS and Apache Cordova. Therefore application is a bit fat in terms of memory usage.
First of all it has a simple settings page (and these settings are only stored in your phone, not shared with anyone or stored externally). Now let’s examine how it works with an example.
A Minimum Wage Worker in Turkey earns 1300 TRY (equals 15600 TRY per year). Let’s assume he only works in weekdays; works for 8 hours and spends 2 hours commuting making a total 10 hours spent by work-related activities every weekday. Also adding approximate annual interest rate and inflation rate as below:
Great! Now let’s see what if Minimum Wage Worker friend would like to enjoy a latte every lunch break? Currently a latte costs 7.5 TRY in Starbucks, that’s 37.5 TRY per week.
That’s just cruel. Our friend has to spend 23 hours of his life working to have an average coffee from Starbucks. If our friend enjoys this habit for 10 years, the amount he will be paying for coffee will be increasing by inflation rate, and he will be missing the chance to invest this money and grow it with interest rate. And assuming a steady inflation and interest rate, that coffee habit will cost him almost 46000 TRY in 10 years (with interest compounded monthly). Maybe he should learn to brew his own coffee and enjoy higher quality coffee for cheaper?
How about the GYM membership? Let’s say it costs around 100 TRY per month.
And that’s more than 15 hours every month. Most of the time the gym membership can be replaced by a pair of dumbbells at home.
Our friend is also very social, has lots of people around him using high-end cellphones. He doesn’t want to feel inferior so he needs to get an iPhone 6s Plus as well!
No fucking way a person should give up 538 hours of his life (~22 days) just to have a cellphone.
The download link to Mustachian Calculator is here. I hope this application punches you in the face every time you waste precious moments of your life, as it does to me.