Going Broke on Name Brands
Or, in some cases, someone may feel the need for a casual day. But the t-shirt that the person wears has to sport the logo of a high-end label.
Media brainwashes us to “dress to impress” in all cases. However, that expression is much better suited for someone who is actually looking for a job or some other advantageous interest. Breaking the bank just to impress everyday people is a losing proposition, especially when the value that you pay for is only perceived.
In the world of business there is actual value and perceived value.
Businesses go through great effort via marketing campaigns to increase perceived value, or what you think their product or service is actually worth. The actual value is the cost to the business for materials and labor. A large perceived value on top of a very low actual value means major profits.
If you are the business, this translates into success. If you are the buyer, you overpaid.
The secret is that in a lot of instances the differences in a name brand and no name brand product are minimal, if a difference exists at all. For example, check out this article on designer sunglasses.
The point is trading your hard earned money is counterproductive to creating wealth. It’s not guaranteed that you’ll look as good as you think you do after a high-end purchase. What is guaranteed, however, is that you will definitely enrich someone else in the process.
Entertain money.
