FREE vs Common Sense

FREE is a good thing....or at least we all believe it's a good thing.

For example, information on the Internet is free unless you pay for it.  Information overload is a term used broadly to describe how easy it is to gain access to information like never before.  I can recall working in the investment management industry where analyst reports from major brokerage houses were loaded full of the latest and greatest information about which sector, industry or stock to review for investment.  Today, access to that information, which back then was extremely difficult to gain unless you were a major client, is nonexistent.  The barrier of entry disappeared once the Internet and speed of access improved year after year after year.  Today, there are so many bloggers (myself included) presenting lots of information that it is overwhelming. 

FREE can come at a price unbeknownst to you and I.  FREE means sifting through mounds of web site pages and articles and loads of information that tend to be redundant, artificially hyped and/or full of half truths leading to enhanced fears.  If you googled a medical condition on the Internet, you could misdiagnose your problem or worse, increase anxiety and fear.  It is important to invest in the relationship of a good doctor who can ease your concern and diagnose you correctly (granted there are some exceptions to this statement).  WebMD is a reputable place to research your medical issue.

Couponing is an obsession for many who seek to get free coupons and spend lots of time saving pennies on the dollar.  Perhaps 10-20% of manufacturer coupons issued are claimed.  Why?  Because many people lack the time and energy to invest in this activity. 

In economics, we learn about opportunity cost.  If I invest my time into being on Facebook, will it take time away from something else in my life that is much more important?  This is a good question to ponder the next time you prioritize your time.  Am I better off dealing with technology problems for two hours or playing with my children outside for two hours?  While speed and access are far superior versus twenty years ago, many forget the importance of prioritizing time and resources, and ultimately it can cost you a divorce, job loss, dissolution of a life-long relationship, or other unforeseen expenses.

Instead of your money being the currency of today, it is your time.  Where you spend your time reflects on your priorities.  Unfortunately, there are many time-wasters such as sifting through the unwanted ads and direct marketing items in the mailbox.  Spending too much time on the computer can take time away from relationships such as your spouse, children, family and friends.  Facebook, Twitter and other forms of social networking are hugely popular because it is a time-saver.  Managing your time is just as important as managing your finances.  In fact, good time management can lead to improvements in areas least expected and ultimately a financial benefit (not to mention peace of mind in certain cases).

Using your common sense in today's modern society of technology will serve you well because fewer people understand the concept much less practice it.  Our younger generation is into misguided celebrities and texting beyond belief that their social skills are sadly bad.   I was encouraged when a young man in his twenties waited on me.  He was juggling phone calls for a rental property, developing a virtual store to go up live and working the job at hand.  Ironically, we talked about the windy day and kites....He knows how to build a kite not only from his childhood days but because he studied engineering in college.  I'd say that he has his priorities directed in a wonderful way.  He is one of the few young twenty year olds that I've seen embrace the American dream. 

The next time someone or web site page or ad offers you something and it's FREE.  Reconsider it.  Does it align with your priorities?  Is it on your list to buy?  Will it take time away from where you need to be?  If a savvy or pushy salesperson pressures you, it is good to thing about it and walk away.  When a cable/tv sales team pounded our front doorstep to buy their service, we were convinced of the sale but said No.  The reason was simple....we examined our budget, crunched the numbers and realized that it would cost us more to switch.  Thank goodness common sense prevailed over FREE.

(C) Copyrighted 2011 Stephanie Arredondo aka Alfa Sugar