How do we determine the value of money? Well, you might check the current exchange and define the value of money from each country. That’s just how much each currency worth in different country. What I really want to discuss is the value of money to each person. Take for an example if you work in a fast food restaurant and you get paid for 7~10 dollars an hour, a thousand dollars is considered a lot of money to you. That is because you measured it by how many hours that you can earn it. If you’re a Hollywood stars or a popular singer, a thousand dollars is nothing to you as you can earn it in just a couple of hours. In other words, the value of money decreases as you earning power increases. The value of money is different for different people. The money that you spend easily in one night might just be enough to keep one family warm, shelter and feed for one month. Don’t waste, make full use of everything.
Wednesday, August 20, 2008
The value of money
How do we determine the value of money? Well, you might check the current exchange and define the value of money from each country. That’s just how much each currency worth in different country. What I really want to discuss is the value of money to each person. Take for an example if you work in a fast food restaurant and you get paid for 7~10 dollars an hour, a thousand dollars is considered a lot of money to you. That is because you measured it by how many hours that you can earn it. If you’re a Hollywood stars or a popular singer, a thousand dollars is nothing to you as you can earn it in just a couple of hours. In other words, the value of money decreases as you earning power increases. The value of money is different for different people. The money that you spend easily in one night might just be enough to keep one family warm, shelter and feed for one month. Don’t waste, make full use of everything.
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