The value of money is relative and can change based on our individual circumstances from "summary" of The Concise Psychology of Money by Morgan Housel
Money's value is not set in stone; it is subjective and can fluctuate based on our unique circumstances. What may be considered a significant sum to one person could be a mere pittance to another, depending on factors such as income, expenses, and financial goals. For example, imagine someone who is struggling to make ends meet on a minimum wage salary. Every dollar is precious to them, as it represents a necessity that must be met. In this scenario, the value of money is high, and every purchase is carefully considered to ensure it aligns with their limited resources. Now, contrast this with an individual who earns a six-figure income and has substa...
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