Money To Live

July 1, 2009

Dollars, Cokes, and Carabiners

Filed under: spending — by moneytolive @ 5:01 pm

A friend says that as a child he thought of everything in terms of how many cokes it would cost. Instead of thinking about how much money he would earn per hour, he would think about how many cokes he could buy per hour of work. (His mom was anti-sugar.)

Another friend compares all purchases to what he could buy in rock climbing equipment. “Another beer at the bar? Nah, because I could buy a new carabiner with that money.” (I know very little about rock climbing … he probably is not buying new carabiners, but that is the only name of rock climbing equipment that I know).

I wonder how common this behavior is. I would love to get results of a survey with these questions:

  • What % of the population thinks about money in this way (or has in the past)
  • Of people who think about money in explicit, concrete terms, what is their current credit card debt
  • What was their maximum credit card debt in the past?
  • What other types of debt do they have?

My hunch is that these people have below average credit card debt.

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