Today I was at a sushi buffet as part of a party and for the most part the price didn’t seem too bad. The bill was paid for from the invitee of course. Whenever I go to buffets I personally have the mindset that if you are going there and are paying a high fee you should kind of be sure that you are getting your money’s worth. There were quite a few people as well. What got me thinking is that some people probably ate about eight dollars worth of food if you were to order it off the menu. In that case the all you can eat fee option wasn’t really wise financially. But at the same time that flat fee and being able to order what you want gives a peace of mind on what your final bill will be. So it made me think, financially in these scenarios do you usually try to get the most out of your unlimited benefits or do you do it more for a peace of mind? Do you also think about it from the company’s point of view?
I feel for myself when it comes to one-time events like these it’s more about maximizing the value of it. This could also be for things like say an all-day ride pass at an amusement park. Whether I am paying it myself or someone is treating me it just feels so wasteful not to try and use it as much as you can. When I think for other things like my cell phone on how I have almost unlimited everything in that case it’s more for a peace of mind. I wouldn’t purposely make like fifty hours worth of phone calls each month just to say if I wasn’t on an unlimited plan it would cost an arm and a leg.
So how exactly does this help in the long run in managing money better? I personally think it’s about developing a habit in thinking whether or not you truly need something and if your choices are best suited for your lifestyle. Example, it’s too easy to go with the unlimited options because it sounds like such a great value. However, like the above example with the sushi the best value doesn’t mean it’s the best fit for you.
I usually like to think of the business side whenever companies offer you unlimited options too as they must be making money with it somehow. It gives you a better understanding of not just money value wise for yourself but business in general if you needed some ideas to generate an income. Like in this case what I noticed was that a lot of the sushi items looked like it had more rice than say meat products on it compared to most other places. So my assumption is they do this to fill people up faster. Perfectly explains why on like this menu for the price you couldn’t just order like sashimi on its own.
That gets me naturally curious to look into other business in other industries on the types of tricks they do in a similar sense to make a profit. The better you understand how and where people make their money in selling you things the better you will get in managing your own too I feel personally and professionally.