Today's Lesson Is On Price vs Value
When you purchase anything, whether consciously or unconsciously, you must ask yourself three questions. If you cannot answer "YES" to all three questions, you may need to re-evaluate that particular purchase.
The Three Questions Are...
1. Do I want it? (yeah, probably)
2. Do I need it? (not really)
3. Can I afford it? (sure, but what value is it?)
Example: What Do Poor People Buy on Payday?
After meeting their basic necessities, they buy stuff. What is stuff? It's non-essential brick-a-brack, mostly junk from yard sales, flea markets, and Walmart. Their homes are full of stuff. Every wall, every table filled to overflowing with stuff.
Nothing wrong with buying stuff, but after years of buying stuff, how much money do they have saved for retirement? When was the last time they took a really nice vacation?
On the other hand, what do rich people buy on pay day? They buy something that will make them more money.
So... what are you buying on payday? Even if you can only afford something inexpensive... like a part time investment with real value.
The long term benefits are well worth the effort. Invest in yourself unless, of course, you think it's a bad investment. In that case, keep on buying stuff.
Let's review... What's the difference between a rich person and a poor person?
Answer: Poor people work for money. Rich people's money works for them.
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