Defining the cost of money

I just read a very powerful article which talks about looking at money in a very different way.. in a positively amazing way.

A way we should all very seriously consider while we spend money.

What the article said was the convert the money you are about to spend to the effort or time spent to earn that much amount

So let's take some simple example. Let's say I earn 40,000 RS a month post tax. Which means I earn about 2000 Rs a day (40000/20).
For a 10 hr workday it basically converts to 200Rs an hr.

So when I want to

1.  Buy a pizza dinner @800 Rs... If you convert it it means for the 20 mins of enjoyment I need to spend 4 hrs of my day working.

2. iPhone 7 @ 60000Rs. For me to own this I need to work for 300 hrs!!

Now this doesn't sound all that bright to me when you look at the effort and time required for the two above examples.

This is a great way to psychologically reduce the amount one spends on impulse purchases..

It's not only a trick.. it's simplefinancialsense!!