This is tip #6 of the How To Save $80,000 Series
Spend money to save money (Saving: $4500)
Spending money to save money is not new. We’ve heard it a million times. But how do we implement it?
In the past 12 months we’ve attended several practice management conferences. The conferences were expensive when you considered the flights, rooms, transportation, meals and so forth.
But we’ve gained so much by attending these conference that our original hang up about not going (because it was too expensive) seemed trivial after we got back.
Let’s work this out per person… Let’s assume a flight cost $500; 2-night hotel is $400; paid meals not provided during the conference, $180; car rental $90; for a total $1170.
Now, if your manager or your doctor or whomever you send to the conference can’t find a way to either save or earn more than $1170 with the information they learned at the conference, then you have a different problem (incompetence; oops, did I say this out loud?) that is completely unrelated to this.
Of course you don’t have to send everybody away on a plane. There are lots of local events (just look through the junk mail bin in your office, you’ll find all kinds of pieces promoting seminars and conferences).
The money saving tips here are hard to calculate. But I’m going to play it safe and say that one can easily save $4500 by attending a coding seminar. If anything, one can at least generate that much.