Originally posted by Wajoma A person can put their own value on that good, what it is worth to them, then we can work out what it has cost them then place those into one of the four catergories.
How will you place it into one of the categories ?
Than your classification is meaningless in regards to efficiency as some categories will be more efficient depending on the type of product money is being spent on.
Originally posted by Barts Than your classification is meaningless in regards to efficiency as some categories will be more efficient depending on the type of product money is being spent on.
We can go back and forth on that one, but you will now agree that there are only THE four ways to spend money?
Of course not, there are only "THE" four ways of spending money when we only classify by where the money comes from and where it goes, but you deliberately leave out significant other dimensions.
Originally posted by Barts Of course not, there are only "THE" four ways of spending money when we only classify by where the money comes from and where it goes, but you deliberately leave out significant other dimensions.
We can go round and round in circles on which is most effcient, (some other time unfortunately) but in each case when money changes hands the exchange can be put into one of those four catergories.
Originally posted by Wajoma We can go round and round in circles on which is most effcient, (some other time unfortunately) but in each case when money changes hands the exchange can be put into one of those four catergories.
Seeing as my contention was that your classification was not at all suited for the question (which one is most efficient) I have no problem conceding that it is indeed a way of classifying spending.
Question though, in the OP your question was.
"Which of these three generally results in the most efficient way to spend money and which is the worst"
Now you say that we're not going to talk about which one is most efficient. What is the use of the classification then ?
Originally posted by Wajoma We can go round and round in circles on which is most effcient, (some other time unfortunately) but in each case when money changes hands the exchange can be put into one of those four catergories.
And each time money exchanges hands the price goes up. 😉
Originally posted by Wajoma 1. Spend your money on yourself.
2. Spend your money on someone else.
3. Spend someone elses' money on someone else.
Which of these three generally results in the most efficient way to spend money and which is the worst, can they be applied to everyday examples.
1 is a common sense option, but needless to say the truth is that many people are incapable of using their money wisely.
2 is (ideally) the morally correct option, there's nothing more heart-warming than charity.
31 Oct '10 08:12
The Three Ways to Spend Money
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