Placing A Value on MyLot Money
By Jim Bauer
@porwest (90915)
United States
January 25, 2020 11:43am CST
Sometimes, as I am sure many of us might do, I scratch my head at the effort and time I spend here for what seem like mere pennies. And they ARE really mere pennies.
But pennies DO add up.
On an average month here I make about $10. Often times it's a bit more than that. But let's just say in a given year I earn about $120 on MyLot. If I want to really appreciate the value of that, I need to place a value on my MyLot money.
What is $120?
It's 480 boxes of macaroni and cheese (I buy these at Aldi for 25 cents per box).
It's roughly 60 pounds of pork. I generally pay about $1.99 per pound for pork.
It's roughly 3 full tanks of gas.
It's roughly 141 jars of pasta sauce (at 89 cents per jar at Aldi).
It's roughly 250 dozen eggs (or 3,000 individual eggs at 48 cents per dozen at Aldi).
It's roughly 40 pounds of lunch meat at about $3 per pound.
It's roughly 48 bags of shredded cheese.
It's roughly 120 bags of frozen vegetables (I generally do not ever pay more than $1 per bag).
It's roughly 67 3 pound bags of yellow onions.
It's roughly 413 pounds of potatoes (I generally pay about $2.99 for a 10 pound bag).
I could go on, but I think you get the point. Granted this is in the United States. It does not seem like $120 can go that far. But when you start to do the breakdown, it makes you feel a little bit better about the value of the time we spend here, and what that actually adds to throughout the year.
I just thought it was an interesting thing to explore and thought I would share it here. Thoughts?
17 people like this
18 responses
@rebelann (112879)
• El Paso, Texas
25 Jan 20
Sure, we all like the money bonus we get by chatting here but for me it has also been a place where I've made real friends, upon which I cannot place a monetary value, and have actually learned so much that I did not learn in school about cultures around the world some of which I had no idea about previously, no way I can place a monetary value on that kind of education.
Everybody needs money to survive but aren't those latter factors also a consideration?
3 people like this
@LindaOHio (178701)
• United States
25 Jan 20
I earn between $24-30 per month...but then I do spend all day here. I look at it in terms of dinners out for me and my husband since that's what I spend the money on!
3 people like this
@LindaOHio (178701)
• United States
25 Jan 20
@porwest I have the time because I can't get around and do the things I'd like to be doing.
1 person likes this
@porwest (90915)
• United States
26 Jan 20
@LindaOHio How old are you again? I know you have told me. But I forget. And I KNOW a guy should not ask a woman's age. What are your ailments that make you less mobile these days?
1 person likes this
@porwest (90915)
• United States
25 Jan 20
I wish I could get to those dollar amounts. But I don't have the time some retired people do. Technically speaking I don't spend any of it. All of it goes right into savings and investments. But it is fun, I think (but I am weird like that) to break it down into what that small change actually can buy.
2 people like this
@infatuatedbby (94914)
• United States
25 Jan 20
That’s amazing ! I just count myLot as a fun platform - chit : chat & earn some pennies that add up! They all get transferred to PayPal to my bank & get spent toward food, gas, clothes/shopping whichever :)
3 people like this
@porwest (90915)
• United States
5 Apr 20
Yep. That is pretty much the way I look at it is as well. Although all of my earnings go right into the bank. I mean, eventually, one way or another, the money gets spent of course. But the immediate place it goes is into savings or investment.
1 person likes this
@porwest (90915)
• United States
31 Oct 20
Sometimes I feel like asking the question, "What am I DOING here? Is this really worth my time?" Doing little things like this helps me to see what it all amounts to, and then I can see it probably IS at least worth some of the time and effort I put into it.
Plus, it's a marvelously fun and addicting site. So there's that to weigh in of course as well.
1 person likes this
@allen0187 (58582)
• Philippines
5 Apr 20
myLot money goes to my annual 'for me and me alone' money.
1 person likes this
@allen0187 (58582)
• Philippines
6 Apr 20
@porwest yup.
I need to pay myself first.
1 person likes this
@porwest (90915)
• United States
8 Apr 20
@allen0187 "Pay yourself first" is a tenet of saving principle. Although, in that context it applies to literally putting it into savings.
1 person likes this
@sprite1950 (30452)
• Corsham, England
26 Jan 20
I just like to see my counter rising! To me the amount isn't too important but it's something of an achievment every time I reach $1, $2, $3 .. but I wouldn't do it if I didn't enjoy it so that's important too. It's just a hobby for me and it goes into my paypal account and stays there.
1 person likes this
@JohnRoberts (109846)
• Los Angeles, California
25 Jan 20
I long realized how much time it takes to earn a penny anywhere on online sites but I have the time and as you say, a penny is a penny and they add up. At least here on myLot, there are entertainment and informative factors.
2 people like this
@porwest (90915)
• United States
4 Apr 20
They do add up, those pennies. For sure. I agree with you on the entertainment and informative factors as well. I mean, MY posts are probably THE most enlightening and informative posts on the whole site. It's hard to contain my genius, you know.
1 person likes this
@arunima25 (87806)
• Bangalore, India
31 Oct 20
You have said it very well and I totally agree with it. Thanks for sharing this link and bringing me here
1 person likes this
@porwest (90915)
• United States
26 Jan 20
@Moon24 Oh. Well that still means something. If that is the case $10 per month would be equivalent to a half a month's pay over the course of a year. I can't relate. I make over $100,000 a year USD. So, any money one can make from Serbia here seems like it can be A LOT. That being said, $100,000 here does not go nearly as far as it would there. But I am thinking I could live like a king there. lol
1 person likes this
@pumpkinjam (8763)
• United Kingdom
27 Jan 20
In my 13 years on myLot, I don't think I've earned $20 in total It does add up, though. Since my son has been regularly getting the bus to school, I've been paying for his bus pass through PayPal. It's the equivalent of around $16 per week so the occasional $5 from myLot goes towards that.
@snowy22315 (180768)
• United States
25 Jan 20
A penny saved is a penny earned as they say.
1 person likes this