In all the talk about the REASON to start a home based business or online business, such as funding your retirement account or paying down debt or just living better and obtaining tax deductions, there’s not much talk about HOW to do all that.
This excellent article from SavingsAdvice.com is different in that it’s concrete:How Dumping TV Allowed Me to Quit My Job, Create an Online Business and Fund My Retirement Account
I especially liked the line “Did you know that watching TV can cost you $1 million dollars or more in lost productivity over your lifetime?” (paraphrase). And basically his viewing habits weren’t that bad – about 3 hours per day.
Here’s a quote that’s worth pondering too:
If you want to know why you don’t have enough money, the first question to ask yourself is how much time do you spend watching TV? It’s probably a lot more than you ever realised. While most people focus on the cost of cable when they think of the price of watching TV, I would argue that a far more costly aspect is the opportunity cost — the things you could be doing during the time that you’re actually watching TV.
To put it into perspective, if you watch an average of 31.5 hours of TV each week (which the average person in the US does) and you value your time at minimum wage of $5.85 an hour, you are spending nearly $800 a month ($798.53) to watch TV. That comes to nearly $10,000 ($9582.30) a year. I would imagine that most people reading this value their time well above minimum wage, so the cost is likely several times that number. When you look at it from that perspective, watching TV is an extremely expensive and financial draining habit to have.