The value of money #thrifty
Many people shop with little thought about what things cost. They don’t check or compare prices and feel they are just entitled to things. They also don’t think about people who are less fortunate than themselves. We can actually take money for granted and then we don’t appreciate the value of money.
Many people think their status is such that they shouldn’t be seen in discount stores but often their cavalier attitude with money can lead to financial problems and then they have no choice but to shop in discount stores. Being aware of price differences and the differences in income between different groups can make us aware of the value of money.
My local food bank has made an appeal for donations and being aware of food poverty can also help to make us aware of the value of money. Being sympathetic to those who are less fortunate both here and overseas gives us a healthier attitude, not only to money but helps us value other things like the environment we live in. It can help us appreciate our parks, it can help us appreciate clean streets and it can help us appreciate life.
We tend to use debit and credit cards a lot now and using real money frequently can change our perceptions and make us more aware of the value of money. There is a feeling that many people have when using a plastic card that it somehow is not real money. Companies have many ways of encouraging us to part with our money from appealing to our need for acceptance or simply making it easy to spend money. The credit and debit card makes it easy to spend and they offer tempting products at the end of supermarket aisles that are conveniently placed to tempt us. Being more aware of their strategies can make us more resistant to them and save us money.
The value of money
How people value money tends to depend on their age. Older people value money more because they remember when things were much cheaper. I remember when you could buy a house for £3,000. Younger people are a little more naive and have less experience of inflation. Being aware that prices increase when the value of money is diminished help us understand value too. When the Bank of England increases the money supply, prices tend to increase and the bank tries to control that increase by setting a target of 2%.
That’s all, for this week’s thrifty post. Be aware of value and shop around for value and think ahead. Money buys goods and services. Look after the goods you own and reduce your need for services.