How to spend money? Microeconomics.

in economics •  8 years ago 

Think of each purchase in terms of cost per hour.

Livingston's number one tip is to think about the price in terms of hourly cost or how long you have to work to buy that product. "If you think about how much you earn and share the amount of hours worked you get a specific amount."
Let's say you get $ 20 in one hour. That means that for a $ 700 iPhone you would need 35 hours of work. $ 100 for a city trip, 5 hours of work. A blouse of 40 dollars, 2 hours of work. So ask yourself, is it worth it?

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