Save $10,000, the David Koch way
Dr Mumbo always eats lunch at his desk, so you can imagine his joy when he discovered this was the path to wealth. In today’s edition of The Daily Telegraph, Libby & David Koch told readers they could save 50 dollary-doos a week by simply thinking ahead and bringing their own tasty treats to work.
“That’s $2,600 a year,” Dr Mumbo hears the mathematically-inclined among you thinking.
Not so, according to the formidable pair at MoneyHQ.
How much do you spend on egg sandwiches Kochie?
He still didn’t advise ‘brining’ their own lunch. Now that’s gross
Hi Ffx,
You are correct. That is even more gross than Dr Mumbo’s egg sandwiches. Fortunately I had already seen and amended Dr Mumbo’s error, but thank you for flagging. Unfortunately, this typo does not save anyone any money or accidentally promise them $10,000. Better luck next time.
Thanks,
Vivienne – Mumbrella
And presumably the $2400/$2600/$10000 saving only applies if the ingredients for your homemade lunches are at zero cost, therefore the calculation should also take into account a risk-adjusted annual aggregate of likely court fines for shoplifting.
@William – its zero incremental cost as you make lunch from whatever you had already bought for your house/dinner. No shoplifting required.
But the article is right, its only about $2500 a year, not $10,000.
Though if you invested that money in Amazon, Google and Facebook I am pretty sure it will be more than $2500 by the end of the year
Maybe he eats four lunches every day.
How come The Courier-Mail got it correct, then?
@Not Kochie: Great, in that case I think I can save a few bucks on lightbulbs too – only ever using the spare ones under the sink and not wasting money buying new ones.
That’s the problem with almost all of these ‘save money’ lists. They ignore the costs of the suggested behaviour.
Take some of those other suggestions:
– Buy secondhand: Yes, it can be cheaper, but you can also end up getting stuck with what’s available. Good luck in buying clothes on Gumtree, turning up to someone’s house and then asking to try them all on first.
– Volume might mean savings on a per unit basis, but it costs more overall. To get value out of volume, you have to use all you purchase. It might be great to get 10kg of apples at wholesale price, but not if you are only going to use 1kg of them and then throw the rest out.
And then you have to actually save the money into an actual account somewhere for it to really count.
All these money saving tips are always garbage. Want a coffee? Friggen have one.
Focus on the big ticket items (better loan rates, insurance rates) and maximise your income. Kochie gets rich off telling people how to get rich.
10 – But what about networking and that ? You wouldn’t have any friends.
11- But you have to fuff around finding stuff. Ok for uni students but if you’re paying yourself $25 an hour (if you have the time) you’re not saving that much.
12 – Again time is an issue here.