Sharing Daily Discoveries About Personal Finance And Business Topics

Changing For The Sake of The Times

financial literacy

The other day I visited a person’s home who I haven’t seen in awhile and it appeared that they made some drastic changes in terms of buying new furniture and other items like a TV. Just out of curiosity I asked why they did that as it seemed like an expensive investment and they aren’t exactly millionaires. The general answer was that they were bored of their old design and setup and so they figured they may as well update everything as it is better than what they previously owned.

I am usually more of a person that would only do drastic upgrades like that if there was some kind of productivity or enhancement reason to do so. Otherwise I usually find that you get a little too caught up in always wanting the latest and greatest for image sake which ends up costing you way more than necessary. I guess I get more practice in being patience and contempt with what I have as my general interest is more in the gizmos and all that where things like computers get outdated so fast that you feel like a fool if you spend say $3000 buying this top of the line item that will be like $1500 in a few months. Therefore, I tend to focus more on if what I have still suits my needs or not.

I think it is a little different for business of course as I’m sure a company has no real choice to change with the times or else looking outdated could cost you just based on personal perception bias.

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