Changing Your Definition of a Normal Price
Financial Management

Changing Your Definition of a Normal Price

standard price for a deal

I thought this example of some sweaters that were on sale was a funny example on how many times we simply classify something as a “normal” price based on what we are used to seeing it for at certain stores. For myself I usually define “normal” when it comes to pricing based on the cheapest I have seen something versus the most expensive. Like here many people would say $75 sounds normal price wise. To me that would be expensive. After seeing prices like this where you can get it for like $15 my definition of a normal price would be more like $35.

I think this is kind of important when it comes to saving money as many times I just see people paying the regular full retail price as if those high prices are the starting price to determine if something is a good deal or not. Like with this sweater most people would say if it was like $80 now then it would be too expensive. For myself usually the standard retail price is pretty expensive as is where I would only buy it if I really needed it or understand that I am paying a premium for something that is say new in the market.

Of course, the only real way to develop this kind of mindset is to seek out the better deals. Like here, if you never seen the $15 price tag then of course you wouldn’t ever care to think that the retail price is very high. Many times too I would say you don’t necessarily need to find the exact same brand. Like with TV’s a lot of times even “no-name” ones can be exactly the same as name brand ones as it comes out of the exact same manufacturer and all. So getting a feel of what an average price is as well for a similar kind of product can help you for this too.

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