Spending More For The Perception of Value
Financial Management

Spending More For The Perception of Value

financial literacy

Today I went to a Japanese restaurant with a friend where we had a choice of ordering from the menu or opting to go with an all you can eat. The all you can eat was about $18 which made us think if it was worth it based on how much we would actually want to eat. Eventually we decided to just go with the regular menu since this was more of a casual hangout to chat.

Once we ordered the meal we were saying how that is pretty much all we would have ordered from the all you can eat which made me think how even though for many people it would be the same they would take the all you can eat option as it just sounds like such a better value. I was thinking this could actually be a good way to train people to shop for things that they actually need and want as well to save money.

For example like here I would imagine if you actually think ahead on how much you are going to actually eat then it makes the decision a lot more rational in the sense of seeing it from a monetary point of view. Kind of like shopping at the store for groceries where you walk in there with a plan of your week versus just going in there and deciding what to buy then.

So with all you can eat example restaurants often give you the whole list of what you actually ordered afterwards. Looking at that can tell you if you actually ate enough to justify it or at the same time if you just ordered more for the sake of trying to maximize the value of it even when you didn’t really want to. Kind of like buying something wholesale just because it is a good deal even though you realistically don’t actually want to eat that much.

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