Invent a unit to measure how fast you spend your money
The Higgs DoughGone.
The Workie, A W with an arrow through it. "My workie rate is 17 Bazillion Dollars per picosecond!"
To invent a unit to measure how fast you spend your money, you can create a term called "Money Velocity Index" (MVI). The MVI would measure the rate at which money flows through your accounts or the speed at which you deplete your financial resources.
Here's how you can calculate the Money Velocity Index:
1. Determine the time period: Decide on the period for which you want to measure your money spending speed, such as per month, per year, or any other duration.
2. Track income and expenses: Keep a record of all your income and expenses during the chosen time period. Include your salary or any sources of income, as well as any expenditures, such as bills, groceries, entertainment, etc.
3. Calculate total expenses: Sum up all your expenses over the given time period. This will give you the total amount of money you spent.
4. Calculate Money Velocity Index: Divide the total expenses by the duration of the time period. For example, if you are measuring monthly MVI and your total expenses for a month are $3,000, your MVI would be $3,000 divided by 1 month, resulting in an MVI of $3,000/month.
The Money Velocity Index can give you an idea of how quickly you are spending your money and can be used as a metric to track and manage your finances. It can help you identify patterns and make informed decisions about your spending habits.