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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (3619)7/26/2002 7:29:01 PM
From: GraceZRead Replies (3) of 306849
 
Its credit cards that are the big culprit. People don't think of it as spending real money, which is obtained by trading real hours of their life at work. What I try to do is translate stuff into hours worked. In other words, do you want that refrigerator if you know you will give up 4 and a half months of your life to pay for it? That car if it takes two years of your life? Its simple to do, you figure out what the person's real hourly wage is after you subtract taxes and the cost of going to work. Then you take that figure and divide it into any purchase (including the interest charges when they buy with payments) and then put the price in terms of hours, days and years spent working. You do that and all of a sudden that Sub Zero fridge isn't so cool after all.
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