Today I saw a person asking a taxi driver on how much it would cost him to get a ride to what sounded like an eight minute drive. Since it was late at night he wanted to get home faster. The taxi driver told him it would be about $25 and surprisingly to me the person was impressed saying that was cheap. I was trying to wrap my head around that as in almost any angle I look at it that price seems ridiculously expensive.
I know if the person took public transit for example it would probably take him about twenty eight minutes and would cost almost $3. I don’t take a taxi much and so maybe that is a good deal when it comes to regular rates. That did make me think of finance from a broader perspective on how when it comes to saving money we should try and compare products and services to other things that can equally get the job done as well.
For example, I could say that if for some reason a smoothie maker was always like $200 and all of a sudden you saw it for $100 then that would be a good deal if you were comparing it in that way only. However, if there was this super blender that was just as good and would do just as a good of a job for $80 then it makes more sense to get that. Just requires a bit more research on your end.