So with $105.54 to work with for this idea, the first thing I need to do is to register the domain name. I did just that yesterday as I initiated the order. This is actually a good example in terms of when you are looking to purchase some kind of service, do you go for the cheapest option or pay a little extra to get something more reliable? For this, my requirements were that I wanted to register the domain for one year to start off along with the ability to register the domain privately to help prevent spammers from accessing the site’s contact information.

If this was for a regular business I would opt to pay a little more to go with a company that I was confident with. Normally, I would have to pay about $15 a year to get what I want. It would usually be almost instantaneous as well as once I place my order I notice that the domain is then fully registered fairly quickly. After thinking about it for a bit, in the end the web hosting usually plays the main role when it comes to the performance of a web site, which I will be pickier with, and so I decided to be more frugal in the budget for registering a domain.

The result, to save money I decided to go with a company that charged $5.99 as it was one of the cheaper options for what I wanted. As expected, the service isn’t as prompt as I registered it yesterday and as of now I am still waiting for a confirmation that it has been successfully registered. In general though, assuming everything goes through, the trade off is that I went from needing to spend about 15% of initial my funds to about 6%. Those numbers are off a bit as my funds are in Canadian currency while the bill is using US currency.

Hopefully it goes through okay. I still have to brainstorm everything anyhow, so the wait doesn’t affect me too much.

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And I thought I was the only one that did this before. During my early teen years I thought to myself that since so many people I knew kept complaining about not having enough money during times when they truly needed it that I would have to think a little different in terms of an approach on how I would spend and save money. For example, at that age people would say spend everything at once or save maybe 20% of what they got. At first I was thinking of a spend half of what you get and save the other half approach, but I thought it would have enticed me to spend money just for the sake of spending it.

What I decided to do was that if there was something that I wanted to buy or spend money on which wasn’t really necessary, whatever the cost of that purchase was I would have to put away the exact same amount in my savings. For example, if something was $50 that means I would need $100 to buy it as I would need to put $50 in the savings as well, which I couldn’t touch afterwards. This obviously made it harder for me to make purchases and at the same time it was motivating as well as I could visually see how much money I was saving up as a result. A quick example was since I got $20 every two weeks, if something was $30 it would literally take me about 6 weeks just to be able to buy that.

It helped in a lot in other ways too as it helped to prevent me from making bad impulse purchases and in a way it truly placed me in a position where when I bought something that means I could truly afford to do so as oppose to having nothing left afterwards. While I don’t do this nowadays since it is more about return of investment and efficiency, I still carry on with the same type of mindset in terms of if you have say $1000 left and that item is exactly $1000, having zero left afterwards in my mind means that I can’t afford it for the most part and will only buy it if I had more funds as I don’t want to just get by.

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