Back in Economics class, we were all taught that price is essentially the cost of producing the product plus any profit factored in. Price is driven by supply and demand. Price is a number. It’s devoid of emotion. It is what it is.
Value, on the other hand, is WORTH. Value is determined by factors like exclusivity, rarity, customization and quality. Value makes a person feel good.
Common, mass-produced products may have an appealing (low) price, but do they carry value? Are they special?
Next time you are drawn to an item because of a low price, make sure you are buying it because you feel it has value. If it’s not special, if it doesn’t make you feel good…wait for something fabulous.
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