Changing the way you think about prices (financial, wage, cost)

[Stac2007]

Originally Posted by SLCPUNK

Who guaranteed anything?

That’s just my point. How can one who understands the value of money ward off loosing it? Lots of people who knew the value of money thought their investments were pretty safe. How does one invest money just by understanding its value? I am asking you this question because I have see so many markets go belly up and often times investors were not advised of the bad things that were happening in the market. It seems to that if billionaires could loose money, any one can. Is it best not to invest at all?

[SLCPUNK]

Originally Posted by Stac2007

That’s just my point. How can one who understands the value of money ward off loosing it? Lots of people who knew the value of money thought their investments were pretty safe. How does one invest money just by understanding its value? I am asking you this question because I have see so many markets go belly up and often times investors were not advised of the bad things that were happening in the market. It seems to that if billionaires could loose money, any one can. Is it best not to invest at all?

I wasn't referring to investing, but rather wasteful spending and poor choices with money.

[Stac2007]

Originally Posted by SLCPUNK

I wasn't referring to investing, but rather wasteful spending and poor choices with money.

I agree. How many stupid people go to Las Vegas and throw away money for no other reason than it's chic to do so. How about the neighbor who goes and buys a BMW to keep up with their neighbors but has to work a second job to make the payments? My all time favorite is buying a house at least twice as large as you need it and then loosing it because a person took out an ARM mortgage after not being able to qualify for a traditional mortgage. If people could live within their means they would not suffer economic strife.

[Craig121]

To battle people living outside of their means, we first have to battle ill feelings and other peoples malice and hatred towards each other. Most people spend to make themselves feel better after encountering a problem such as marital arguments and getting low grades on a course you were hoping to do better on.

[suzie02]

Originally Posted by Craig121

To battle people living outside of their means, we first have to battle ill feelings and other peoples malice and hatred towards each other. Most people spend to make themselves feel better after encountering a problem such as marital arguments and getting low grades on a course you were hoping to do better on.

So it is others' fault that some people live beyond their means. Now I've heard it all.

[Stac2007]

Originally Posted by Craig121

To battle people living outside of their means, we first have to battle ill feelings and other peoples malice and hatred towards each other. Most people spend to make themselves feel better after encountering a problem such as marital arguments and getting low grades on a course you were hoping to do better on.

So true Craig. I don't understand the demand for material wealth. You can't take it with you and its grip pulls one away from the things that really matter in life like family and friends.

[Craig121]

Originally Posted by suzie02

So it is others' fault that some people live beyond their means. Now I've heard it all.

You live in Sacramento, I in the UK. Its different attitudes to different things. Some do live beyond their means so as to be better then how they were when they were younger.

[eagle7]

Im poorer then a illegal mexican so i try to compare prices the best i can. I would hate to pay $20.00 for something i could of gotten somewhere else for half that price. It has happened before but you do get what you pay for. I would rather pay $50.00 for something thats gonna last me awhile compared to something that dont. Many places & items are over priced & i just dont go there or buy the product. It pays to compare prices.

[sterlinggirl]

Originally Posted by Stac2007

That’s just my point. How can one who understands the value of money ward off loosing it? Lots of people who knew the value of money thought their investments were pretty safe. How does one invest money just by understanding its value? I am asking you this question because I have see so many markets go belly up and often times investors were not advised of the bad things that were happening in the market. It seems to that if billionaires could loose money, any one can. Is it best not to invest at all?

When you truly understand the value of money, it's easy to invest it.

How much is a house worth? The easy answer is that it's worth what the market is willing to bear, but the real answer lies somewhere between the cost of construction and the ability of prevailing wages to pay for it.

If median wages are $50K, it doesn't take a rocket scientist to understand that investing in a community full of $300K houses isn't sustainable.

Valuing stocks is tough because Wall Street plays a lot of games, but when commodities fall below their production price they're a good investment.

You can't not invest because of inflation, but you can use a little common sense to help you find sensible choices. The most important thing is to learn enough about your investment choices to decide whether your investment is worth the price. If you don't understand the true value of what you're buying, it's usually a good idea to hold on to your money until you do.

[Craig121]

In the old days, things cost what they cost. Now, its gone to ****.