Many individuals embark on their professional journeys through one of three common avenues:

• Supermarkets
• Fast-food
• Dishwasher

In my case, I commenced my career with option one. I dedicated five years at Woolworths, traversing various roles—commencing as a shelf stacker and progressing to coveted back-office positions, significantly removed from direct customer interaction. Among my most enjoyable experiences was the routine of awakening at 7 am on Saturdays to operate forklifts throughout the day.

LESSONS IN THE REAL WORLD

While I primarily occupied roles that distanced me from customer-facing responsibilities, I did occasionally step in on the check outs (perhaps I am the reason they want to phase these out now…). This provided a valuable opportunity to gain insights into human behaviour.

Traditionally, it is advised to respect one's elders. However, I maintain that respect should be reciprocal. Any individual, regardless of age, who treats me with respect earns my automatic reciprocation. Elders, in this context spanning from 30 to 90 years old, exhibiting derogatory behaviour towards 16 to 21-year-olds for trivial reasons do not warrant respect for such conduct.

But one of the other lessons I learnt while on the checkouts is that some people are CHEAP!

There was a particular customer residing a 20-minute drive away from our supermarket. It became predictable that, following her store visits, a complaint would ensue, typically a phone call made 30 minutes later upon her return home, contesting an item on her receipt.

During one such encounter, she asserted that we had charged her for 11 bread rolls when she had only purchased 10. Substantiating whether she indeed had 10, 11, or even 100 bread rolls at the counter was a challenging task.

Nonetheless, we accepted her request for a refund on the additional bread roll, as we consistently did for all her grievances, adhering to the mantra that "the customer is always right." (cough cough)

EVERY CENT COUNTS...

To recap: This particular lady would drive 20 minutes back to the store, where another member of staff or I would arrange for her refund and then she’d drive 20 minutes back home.

The question that naturally arises is: How substantial was the refund for a single bread roll?

50 cents! No joke!

One may question the rationale behind expending 40 minutes of one's time for a 50-cent refund. The answer, it seems, lies in the inclination of certain individuals towards extreme frugality. These individuals become so fixated on minimizing costs that they inadvertently overlook the creation of value. The prospect of being reimbursed 50 cents from the supposedly 'big, nasty supermarket' elicits excitement in them.

However, a crucial facet of this lesson surfaces:

Cheap people never become rich. Cheap people always focus on what they can save, but they never focus on how much they can make. They spend so much time trying to save money they have no energy (or motivation, depending on which way you look at it) to consider alternate methods of making money.

They are pinching pennies and missing millions!  

A cheap person will never consider hiring a cleaner who charges a mere $30 per hour because they are too focused on the cost rather than the value.

A cheap person will happily move their home loan to an online provider that is 0.02 percent cheaper simply because they feel like they are saving money.

LACK OR ABUNDANCE

Here is my question to cheap people: Do you think rich people spend all their time gazing at their receipts looking to save 50 cents on their docket? I doubt it!

I can hear you saying “Because they are rich and don’t need to!”

No, even if they were poor, I doubt they would do it. This is not a question of how much money you have; it is a reflection of your mindset.

A rich person is happy to pay a cleaner $30 per hour because they know they can make $60 per hour doing what they love!

A rich person is happy to pay an extra 0.02 percent on their home loan because they value the advice and relationship of their broker and know they have to pay extra for this. They may not get a “direct benefit” from the relationship, but they know they may get an idea or inspiration that changes their life. They may meet someone who becomes either a personal or professional long-term connection. Being part of a community has more benefits than just financial ones.

But most of all, a rich person is focused on increasing their number one asset:

Time.

They value their time and know that some things are just not worth worrying about.

Of course, this message does need balance. Some people pay ridiculous amounts in fees, premiums, etc. in various areas of their life because they haven’t reviewed their finances.  

It is essential that you have a budget in place and review it every six months to ensure you are on track. (And I would never fill up petrol without making sure I have a supermarket petrol voucher in place!)

However, it is also essential that you know the value of your time and your expertise.

YOUR CHOICE

You have a choice to be a cheap person solely focused on lack or to be a rich person solely focused on abundance. This doesn’t just apply to your finances; it also applies to your relationships, emotions, and health and wellbeing.

Your time and expertise can be used to find ways to save money or make money.

It is your choice what path you want to travel.

But don’t think you are a “master of money” if you saved 50 cents on your groceries.

While you were saving 50 cents, another person was getting advice about an investment strategy that could make them over $50,000.

You are merely Pinching Pennies and Missing Millions.

P.S. Be nice to checkout chicks —they may become your financial planner!