How Much Does it Really Cost? Introduction
By Jim Bauer
@porwest (112717)
United States
February 21, 2022 5:58pm CST
I like to talk about money, of course. One thing that always fascinates me is how much people are actually willing to pay for things depending on how they are sold. Not based on price necessarily at all.
Opening refrigerators, freezers and pantries what I find is that people are spending the equivalent of rib eye steaks, lobster, caviar, filet mignon, and maybe even truffles that they are willingly eating every single day of their lives who would walk right past these actual things proclaiming, "I would never pay that kind of money."
But you are, and this series will attempt to point some of this out. I hope for it to be informative and eye-opening.
Especially considering when I talk about money, when I hear people say it's all about their paycheck being too small and the cost of living that is keeping them away from being able to put money aside into savings or investments, I call hogwash.
This series should serve to provide for at least a rationale for why I call these people out as being fools who are fooling themselves. Or being fooled. Whichever it is.
Besides, I like talking about money anyway. And hell, people loved the Discovery series, "How It's Made." Perhaps there would be some interest as well in a series here that shows you how much things really cost.
Along the way if there are things you want me to price compare, just toss it into your comment and I will see if I can add it to the series.
Onward and upward and I will see you on 'Episode One.'
14 people like this
15 responses
@RasmaSandra (97912)
• Daytona Beach, Florida
22 Feb 22
I am finding out that taking the time to do survey nets be about 5 to 10 dollars extra per week and it adds up, I am happy knowing that while I am in between writing jobs again,
4 people like this
@RasmaSandra (97912)
• Daytona Beach, Florida
22 Feb 22
@RubyHawk Two good sites Survey Junkie and Qmee and if you want to try for gift cards Inbox dollars
3 people like this
@RubyHawk (99367)
• Atlanta, Georgia
22 Feb 22
@RasmaSandra Thanks a lot , I’ll check them out.
3 people like this
@RubyHawk (99367)
• Atlanta, Georgia
22 Feb 22
Where do you find these surveys. I used to earn well on surveys but I don’t find paying ones now. @Rasmasandra
3 people like this
@LeaPea2417 (40020)
• Toccoa, Georgia
22 Feb 22
One thing you can mention is how foolish it is to buy a brand new car and spend all that money when it depreciates the minute it leaves a car lot. My husband and I are firm believers in buying slightly used cars. They are much cheaper and if you fully research what you want to buy, a deal can be had.
3 people like this
@lovebuglena (52140)
• Staten Island, New York
22 Feb 22
Will be on the lookout for those posts. I was rather upset yesterday. Went to the supermarket and did self-checkout. I was checking prices as I scanned the items. After we paid I looked at the receipt and noticed that the beef bacon scanned at $9.99 when the shelf said $8.99. Went up to the lady managing the self-checkouts and told her what happened. She looked at the receipt and then told me I have to go to customer service but it’s already closed. Why couldn’t she have processed the freaking $1 refund. I bet if I had noticed the wrong price right after scanning she would’ve updated the price if I called her over. I hate when stuff like this happens. Not sure if we can go back still to request money back.
2 people like this
@Vikingswest1 (7443)
• United States
22 Feb 22
I would have told her that I wanted to return the bacon and made her choose between deducting the dollar or taking a return.
1 person likes this
@lovebuglena (52140)
• Staten Island, New York
22 Feb 22
@Vikingswest1 I doubt she would’ve done the return either. I should’ve tried going to a regular cashier.
2 people like this
@Vikingswest1 (7443)
• United States
22 Feb 22
@lovebuglena
I would have. I'd call or email them to demand they make an adjustment on your card or next purchase or there would be no next purchase. They will credit you.
Snap a photo of the sales receipt with the price highlighted and include it in the email.
2 people like this
@porwest (112717)
• United States
22 Feb 22
Then this series, honestly, will probably not apply to you. Beyond that, the things I will be talking about pertain more to those who live in the Western world where we have a lot of processed foods and pre-packaged goods that are designed for "convenience" but that are draining wallets fast.
1 person likes this
@porwest (112717)
• United States
23 Feb 22
@Faster16 I can imagine it probably does. It is sort of similar to those who live in small, rural communities in the United States where the nearest Walmart or major grocery chain is miles and miles away, and so people are left to pay more at smaller local establishments when they need things in a hurry.
@sweetashoney (3597)
• United States
23 Feb 22
I am like you, I worked in plants most of my life. I worked in a tee shirt factory for many years, it used to tickle me how people refused to buy store branned shirts and thought that the name brands were better. What most people don't know is a lot of the name brand shirts were made out of the same roll of cloth, thread, and machine as the store brand. What they are paying for is the tag.
@RebeccasFarm (91299)
• United States
22 Feb 22
Where there is a will, there is a way.
1 person likes this
@porwest (112717)
• United States
27 Feb 22
@RebeccasFarm I had one for sure, but I was not in his will. lol
1 person likes this
@porwest (112717)
• United States
22 Feb 22
Interestingly enough, most people don't—and a lot of people think they know a good deal when they see it. But the criteria they use to determine the "value" is often times off. This series should help to point some of this stuff out.
I think it could help a few people. As I mentioned, it is amazing how much money people are willing to pay for things when they don't know how much they are actually paying for them when you start to break things down.
@Vikingswest1 (7443)
• United States
22 Feb 22
I was thinking it's time to purchase a new refrigerator. The store is offering credit and only requires a minimum payment of 45 dollars.
The interest rate is 27%. The cost of the refrigerator is 1400 dollars.
If I make the minimum payment until it's paid off, how much money will I be paying for that 1400 dollar appliance?
I also have a card charging 17% interest but requires a 100 dollar a month minimum payment.
I also have a card that charges zero interest if the balance is paid within a year. That would be 140 dollars a month.
Cash and carry gets me a discounted price.
I think that covers all scenarios.
1 person likes this
@porwest (112717)
• United States
22 Feb 22
Keep in mind that this is doing some VERY quick math. BUT, it can be assumed that it will take you roughly 4 years to pay the loan off. At 27% interest, which is robbery by the way, you'd pay somewhere around $900 in interest, making your refrigerator's true cost around $2,300.
The second option is a little bit better, but not by much.
I never recommend borrowing money for things like this of course. Especially at these high interest amounts.
People should have at least 6 months of expenses in savings for emergencies, repairs, and things like this, with the direct intent being to put the money back as quickly as possible after the expenditure occurs to restore the emergency fund to it's full value.
The best option is always cash and carry. Even with the zero interest credit card the temptation is too great for most people to dismiss the payment if something else comes up, and lose sight of the consequence of that decision when the year is up and there is still a balance.
Again, it's very rough math—it would just take too much time to do an actual compounded calculation. But this is pretty darn close. I hope it helps.
1 person likes this
@Vikingswest1 (7443)
• United States
22 Feb 22
@porwest
I am going with cash and carry and will save 200 bucks lol.
My hopes are that others will read and learn the tough lessons of paying on credit and making minimum payments.
1 person likes this
@porwest (112717)
• United States
23 Feb 22
@Vikingswest1 One of the big ones about credit cards people are not aware of is that IF you use a credit card and IF you only ever pay the minimum payment, it takes 30 years to pay off the balance. It should give one pause when they buy that pair of shoes to realize they are mortgaging a pair of shoes. lol
1 person likes this
@LindaOHio (222222)
• United States
22 Feb 22
Looking forward to this series. We just went out to Red Lobster and spent $92.29 plus tip. Outrageous, you say? I didn't have to spend a dime. Had gift cards and PayPal money that I earned.
1 person likes this
@LindaOHio (222222)
• United States
24 Feb 22
@porwest Nope, doesn't matter a bit because we are comfortable with the income that we have. We enjoy going out to eat once or twice a month...and taking out pizza or Chinese!
1 person likes this
@porwest (112717)
• United States
27 Feb 22
@LindaOHio You will get no arguments from me.
1 person likes this
@porwest (112717)
• United States
23 Feb 22
Well, I will only say this. The series will differentiate from 'treats,' and focus on common everyday items we spend way more on than we should. It's okay to treat ourselves once in a while. It's the things that are not treats that kill us.
Does it really matter that you could have bought a week's worth of groceries with that Red Lobster bill? lol
1 person likes this
