Comments on: Price vs. Ethics: Is the Best Price the Best Choice? http://www.getrichslowly.org/blog/2006/06/30/is-the-best-price-always-the-best-choice/ personal finance that makes cents Fri, 16 May 2008 03:39:40 +0000 http://wordpress.org/?v=2.5.1 By: VinTek http://www.getrichslowly.org/blog/2006/06/30/is-the-best-price-always-the-best-choice/#comment-1049 VinTek Fri, 30 Jun 2006 17:27:55 +0000 http://www.getrichslowly.org/blog/2006/06/30/is-the-best-price-always-the-best-choice/#comment-1049 It should never be all about price. It should always be about value. On one side of the scale is what you spend (or save). On the other side of the scale is what you get for the money you spend (or save). That value can be in the form of quality of goods, time, ethics, whatever you consider valuable. And that balance can change over time. When you're young and you're doing all you can to put money into savings (retirement, house, whatever), money probably has more value to you than time, because the money you save can be put toward your goals. As you get older and more established, some of those goals are on autopilot, and time becomes more valuable than a certain amount of money. Life is a balancing act, but if you're too reckless for too long, there isn't a net there to catch you. It should never be all about price. It should always be about value. On one side of the scale is what you spend (or save). On the other side of the scale is what you get for the money you spend (or save). That value can be in the form of quality of goods, time, ethics, whatever you consider valuable.

And that balance can change over time. When you’re young and you’re doing all you can to put money into savings (retirement, house, whatever), money probably has more value to you than time, because the money you save can be put toward your goals. As you get older and more established, some of those goals are on autopilot, and time becomes more valuable than a certain amount of money. Life is a balancing act, but if you’re too reckless for too long, there isn’t a net there to catch you.

]]> By: The Technocrat http://www.getrichslowly.org/blog/2006/06/30/is-the-best-price-always-the-best-choice/#comment-1048 The Technocrat Fri, 30 Jun 2006 16:39:25 +0000 http://www.getrichslowly.org/blog/2006/06/30/is-the-best-price-always-the-best-choice/#comment-1048 Ah, yes, the price vs. cost debate. COst wins every time. For example, the wife and I are looking for a new car. A diesel Jetta might be more expensive than, say, that cute little coupe, but when you factor in five years of insurance and gas, the Jetta comes out far ahead. Many, many people don't understand this. I'm still trying to explain to people that they're being ripped off when they buy fruit on sale, and half of it goes bad before they eat it. The price was right, maybe $1/pound, but it ends up costing $2/pound when you throw half of it away. Better just to go to the store twice and pay the $1.39/pound... Ah, yes, the price vs. cost debate. COst wins every time.

For example, the wife and I are looking for a new car. A diesel Jetta might be more expensive than, say, that cute little coupe, but when you factor in five years of insurance and gas, the Jetta comes out far ahead.

Many, many people don’t understand this. I’m still trying to explain to people that they’re being ripped off when they buy fruit on sale, and half of it goes bad before they eat it. The price was right, maybe $1/pound, but it ends up costing $2/pound when you throw half of it away. Better just to go to the store twice and pay the $1.39/pound…

]]> By: Amberlynn http://www.getrichslowly.org/blog/2006/06/30/is-the-best-price-always-the-best-choice/#comment-1046 Amberlynn Fri, 30 Jun 2006 16:30:24 +0000 http://www.getrichslowly.org/blog/2006/06/30/is-the-best-price-always-the-best-choice/#comment-1046 I agree with this wholeheartedly. In Portland, New Seasons may be a bit pricier than Walmart of Safeway, but they're local and friendly. They've called me to respond to a comment card I left. They have always been the most generous when I've solicited donation for non-profit events. They focus on local and organic. They're also ethical. Whole Foods (on the organic market circuit) had lobbied Congress for lowering organic standards, and also supports large agri-bussiness. If you're shopping organic because of ethics, stick to a local chain or Co-op (I'm a member of People's Co-op here in PDX). If it's only about trendyness and health, you'll get by at Whole Foods, or just as well buying organic generic brands at Safeway (who's organic products are made by the same company as Whole Foods, by the way.) Or, the best option, grow your own! There's a great book on food buying ethics and prices called "The Eco-Foods Guide" by Cynthia Barstow. For more on organic issues, look up the Organic Consumers Association. Lots of great info. I agree with this wholeheartedly. In Portland, New Seasons may be a bit pricier than Walmart of Safeway, but they’re local and friendly. They’ve called me to respond to a comment card I left. They have always been the most generous when I’ve solicited donation for non-profit events. They focus on local and organic. They’re also ethical. Whole Foods (on the organic market circuit) had lobbied Congress for lowering organic standards, and also supports large agri-bussiness. If you’re shopping organic because of ethics, stick to a local chain or Co-op (I’m a member of People’s Co-op here in PDX). If it’s only about trendyness and health, you’ll get by at Whole Foods, or just as well buying organic generic brands at Safeway (who’s organic products are made by the same company as Whole Foods, by the way.)

Or, the best option, grow your own!

There’s a great book on food buying ethics and prices called “The Eco-Foods Guide” by Cynthia Barstow. For more on organic issues, look up the Organic Consumers Association. Lots of great info.

]]>