How to Increase the Value of a Dollar

In today's financial climate, there is a particular amount of uncertainty in terms of the power of a dollar. What once cost a dollar is now two dollars. The price of TVs to cater the "I just want a cheap TV- ring me up now!" crowd (ie "thrifty") has jumped from a meager $75 USD to a whopping $200. There are certain ways that anyone can make their money go further, as well as helping the dollar to be worth more in general...(if several of these feel like lectures, I apologize. There are few ways to make it simpler without angering any experts that may find this page)


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    Be thrifty! Sometimes, it pays to be cheap. Although you are much more likely to get a better product when you pay more, this rule of thumb occasionally fails. This is especially true for products that provide the same functionality, like the memory card for your camera. Although you are may get better performance from a premium brand memory card than a less expensive brand, both memory cards get the job done and do it in a similar fashion. So when the need for performance doesn't completely outweigh the added cost, take a risk and go the cheaper route.
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    Protect your investments! Many products are made by different manufacturers, and they are relatively inexpensive. Other purchases, however, make a bigger dent in your wallet. These include both things that don't need to be bought right away if your current one breaks or gives out (TV, earbuds) and items that need to be replaced ASAP in emergencies (refrigerator, stove). Whether the big-ticket item in question is a device for entertainment or a magical box that keeps your food safe enough to eat, be sure to take care of it and get any protection you can get for it. Buy a price appropriate surge protector, purchase a warranty (or even better, a service agreement), and keep that orange soda away from anything that plugs into the wall and the lighter away from open gas lines...
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    Make your own baby food! This is not exactly my tip, but a good one that I read online once (the personal finance software Mint can be fascinating at times...) All you need are veggies, fruit, and a good quality blender or food processor. Fruits and vegetables may be pricey, but they are much more economical than baby food jars.
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    The value of the dollar, as with any currency, is determined by the financial strength of the country that issues it. One factor that determines the value of currency is the GDP, or Gross Domestic Product. In Layman's terms, this essentially is a measure of what a country makes and sells: the more a country makes and sells, the higher the GDP score. Currently, America's GDP is slightly misleading in the automotive sector because there are some plants in America that build cars for foreign companies. Part of the GDP counts towards America since American workers put the car together, but the profits go back overseas to chief officers working for Toyota, Hyundai, etc. On the other side, there are American brands that produce cars outside the USA, which gives America credit for the corporate measure but not the labor portion. the face-to-face service industry, fast food in particular, can be considered one of the most consistent sectors of GDP in the United States.
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    The dollar has also lost value due to over-printing. In the past, paper currency represented a certain share of gold stored within the federal reserve. Now, it almost feels like an arbitrary value...

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Categories: Finance Careers