Total Cost of Enjoyment

How often have we been presented with the opportunity to review the "total cost of ownership" before making a major purchase or investment? Probably, not often enough. I've taken a new view of ownership - total cost of enjoyment. Everything has a cost - money, time and attention.

When we purchase a home we most often think of location, condition, value and potential. When we build a home we most often think of location, features, function and value. Everything we purchase involves trade-offs (even if the purchaser has unlimited means, which most of us don't).

When we buy a home, we know the "negotiated purchase price". We don't always consider the property taxes, insurance, maintenance, furnishing, cleaning, entertaining and costs to make the house a home.

A boat sounds like a fun purchase! It only costs $XXXX+. We almost always overestimate how often we'll use the boat. And, whatever the sticker price, we rarely consider licensing, storage, fuel, maintenance, equipping and "time required to use" costs.

What parent hasn't been accosted by children who want a pet? The promises are infinite - "I'll love and take care of my pet". "You won't have to do anything!" Science proves that kittens and puppies grow up. The newness wears off rather quickly. Reality sets in. This pet wants constant attention and needs daily food, water, exercise and accommodation for elimination. And what about taking trips? Pets must be boarded or otherwise accommodated. I can't even count the number of adults I know who are parenting pets that children "had to have".