Quote:
Originally Posted by holymadness
You don't seem to have understood what an opportunity cost is. Let's say you spend 8-12 hours per week clipping coupons for a total savings of $50-$70. Your effective hourly wage for that time spent is between $4.16 and $8.75 an hour. That is unambiguously a waste of time from the perspective of economic efficiency. Better to get a part-time job, or to upgrade your education to aim for a promotion, or to learn a revenue-generating or -saving skill (such as woodworking, canning, sewing, &c.). This is without considering the loss of intangibles such as time spent with family and friends, relaxation, fun, self-edification, and so on.
One can tackle the problem of purchasing power/affordability from two directions: reduce cost of goods or increase wages. It is a particularly modern affliction, especially in North America, to focus exclusively on the former while ignoring, and even vilifying ("unions are evil, teachers are overpaid, etc."), the latter. As should be clear by now, the former even comes at the expense of the latter. Yet perversely, those who critique this system are attacked as defenders of privilege and enemies of the poor.
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I don't think this is a one size solution fits all problem.
Sure Wal-Mart underpays, but it is legislation and public opinion that allows this. Other stores pay just as poorly, probably more than you realize.
And if store employees get a living wage government and other union employees will demand and probably get more. Perhaps minimum wages should be directly scaled upon the overall populations income. And don't get me started on poverty in general. People were more generous to the homeless in the depression than they are now it seems.
As for saving money, I spend less than 1/2 hour a week browsing flyers and this saves me an average of $25 a week I figure. Generally I go to the two stores that are closest together with the best sale of things I know I can use.
When I was shopping for 5 people I saved over $200 a month and the time and extra transportation was negligible. Plus I enjoy getting a good bargain. It's not that I am cheap, but a $1 saved is around $1.45 earned as it is after tax dollars and it has allowed me to buy things I maybe could not afford, and put aside some for retirement.
Helen.