Replies

You can't measure your wealth by the things you buy -- for example if you buy 3 cheap Chinese television for $200 each and used a credit card, you don't have [the equivalent wealth of} $600

You have happened upon the secret of maintaining and increasing wealth.

Consumers have four choices when they make a purchase:

They may purchase an item that is new and take the personal financial loss associated with depreciation (and possibly interest).
They may purchase a used item at an already partly-depreciated value, thereby sharing the depreciation loss.
They may purchase a used item at an already fully depreciated value, thus owning an item that is equal in worth to its cost.
They can invest in an antique item that may increase in value.

A regular habit of purchasing only new items will obviously result in less wealth accumulation than a carefully executed program that combines the four types of purchases.

Yet the antique's value can go to zero if there's no market for the item. IMO, the purchase of a useful tool is a far better choice. A fishing pole, whether new or used has the ability to catch fish & even if no one else wants to buy it, you can find a way to use it to fill your stomach, push comes to shove.

But before you can buy any of those new or used things, you need a job. That's what most of us learned at 17 or 18 when we wanted a car or college ---you need money and you get money by working. Without a job ---no car --not a new one, not an old one.