Quote:
|
Originally Posted by pennywise
Being wary of what people tell me. Looking for their bias for the statement they are making to me. knowing that fear is the best motivator to get people to do what you want them to do. So figure out if a new refrigerator saves 10% on the electric bill but costs me $1000 to buy I have to calculate the return on the purchase. Electric bill is say $50/mo X 12 = $600 per year. This saves me $60/year, so it will take over 12 years to recover the cost of the new refrigerator. Should I do it, no, in 12 years I may not be living here and need to buy a new one then, I may die before the life of this refrigerator is over, etc. So my preventive measures: cost analysis and knowledge are the best.
|
I agree. Just teaching the notion of present value in school would help so much I think. Most of the time even in business we forget about how much is a dollar worth today. Is that dollar I save today worth more then I save by paying more?