Mon 4 Dec 2006
$50 For Xmas Gift Too Much?
Posted by RichSlick under Money Management
Thanks for visiting. This blog is intended for individuals with Net Annual Income of $105,000 or more. Get Rich Slow + Get Rich Quick = Get Rich Slick. If you're new here, you may want to subscribe to my RSS feed.
As the Christmas Holiday rolls around we’re hit with the question of how much of a gift is too expensive a gift. My wife is of the mindset that $50 is a lot of money for a gift. While $50 might seem like a lot of money, I think she’s not being realistic about the ravages of inflation. In 1990, fifty dollars represented a great deal of money since I could recall my dad handing me a crisp $20 every Sunday to be used for lunch money during the school week. The $20 pretty much lasted me the whole week with a few dollars left over for Saturday.
Today, a $20 will barely get me two days worth of lunch so I know that a $50 isn’t a great deal of money. I did some quick math calculations and $50 in 1990 would be worth about $80 today and fifty dollars today would be worth approximately $31 in 1990.










