Archives for posts with tag: money

What if you get a million dollars but only for a day..

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A Single Parent’s Life in the post It’s Just A Bag disclosed that if she had the money to last a life time, she wouldn’t spend much on a bag. What if you DO have the money, on which things would you spend it with? And how about having the chunks of money for only day, and the succeeding days you’ll be back to normal. What things would you want to have for those succeeding days?

Here’s what I’m doing.

I’m buy a Europe travel guide and book a one month Eurotrip! This is how one of my evenings will look like:

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I’ll deposit the payment for all the air transfers, tours and classy hotels with breakfast. The only thing I’ll have to worry then is lunch and dinner. I’ll add five of my friends and pay all their expenses so our gang was complete with spacious room for adventures.

A rough overestimation would be $10,000 per person, so $60,000 for five of us.

Then I’ll grab a house and pay in advance for a solar panel build to free myself of the electricity bill burden. The house I’m eyeing is valued at 585,000. Solar panel installation reportedly costs $70,000 at its height.

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I’ll donate $200,000 to charity simply because I have nothing better to spend it with. And the remaining is for Vegas baby. Wouldn’t let this day pass without any fun! And who knows, I could lure more fortune.

It is actually hard to decide what you can spend on a day with a million dollars. I could easily buy a fancy painting, except I appreciate art in any value. Other than travel, that which I wanted most right now, I would go for house and charity. Of course, fun should be in that day so there’s Las Vegas.

How would you spend a million in a day?

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It doesn’t matter how cheap or expensive the bag is, all bags have the same main function.

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First of all, I’m a guy so I’ll never understand sacrificing huge amount of money on a bag. I mean, it is just a bag. It doesn’t do much other than storage of stuff. You may perhaps find me eyeing a car but it is more understandable because (a) you know the production is costly, and (b) it is for convenience and safety purposes as opposed to public transportation where there is risk of being robbed, holdapped, kidnapped, and any other criminal acts.

Consider this situation: your pregnant sister visits you at home and suddenly her water broke and has to deliver a baby. How will you get to the hospital? Let’s say you can’t find a taxi, will you take the train? A bus? Of course not. You’ll value the safety of your sister and her baby so a car helps. I don’t think a bag can help you get a pregnant baby into the delivery room, nor will it save a life of a person.

I remember my professor in economics (which is by the way, one of the more handy courses I’ve had), saying that she’ll never buy a costly handbag. It is because the idea was crazy, and she prefers bringing a backpack. It is more convenient. You use two shoulders instead of one so there is even weight on both shoulders, which saves your posture. More importantly, you could fit so much more in a backpack.

From what I’m seeing, women’s bags are used as a statement of style and/or fortune. You inform people without verbally claiming that you can afford those bags, and you feel somewhat superior, a satisfying feed of attention.

If you like it, you like it. I should respect that; but I will always think that it is ridiculous to spend $31000, $18000 or even $1600 on a bag. Don’t care what brand that is, fact remains that it is just a bag.

Could you explain to me other reasons why people buy high-end bags?

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Is college still worth it?

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We are told about the successful dropout stories of Bill Gates, Mark Zuckerberg and Steve Jobs; or even J. K. Rowling who never attended college. These people are implying that you don’t really need to graduate from college to be a billionaire.

So what is happening in college nowadays? Since academics is not a priority, students during the first two years of their college education learned very little, close to nothing. Based on the book Academically Adrift: Limited Learning on College Campuses, where students’ Collegiate Learning Assessment results were analyzed, 45% of students did not learned significantly. And after completing 4 years of college, 36% learned very little.

The research also shows that students study less compared to students a decade ago, with 50% decline in study time. But the average GPA of students is 3.2, quite high for a minimized effort. It seems that the academe lowered their expectations on the modern day students.

Professors are really researchers, not teachers. They don’t get rewarded for teaching well, but rather they get promotion or pay increase by having more papers published. In turn, they prioritize searching for new information and the teaching suffers.

We all know that college education costs a fortune. Students end up working for the first 5 years or more just to pay their debt. There are various courses offered that are extra hard to hand our money. I’m talking about studying the following:

  • David Beckham studies – Staffordshire University, UK
  • The Phallus – Occidental College
  • Surfing Studies – Plymouth / Melbourne
  • Star Trek – Georgetown University in Washington
  • Golf Management – University of Birmingham / Florida Gulf Coast University
  • The Science of Harry Potter – Frostberg State University
  • UFOlogy – Western Nevada College
  • Maple Syrup: The Real Thing – Alfred University
  • Underwater Basket Weaving – University of California, San Diego
  • The Twilight Saga – University of Alabama

To answer my own question, yes I believe college education is still worth it. I’m a college graduate, and there are wonderful and admirable things that I’ve learned and acquired in college. At the very least, college is a great place to meet people. I maintained good relationships, had a smoother interpersonal interaction, improved mindset, better outlook in life, and a more defined personality. These will develop regardless of what field you are majoring in.

And here’s the truth from the words of Time Magazine’s Vartan Gregorian,

..of the current Fortune 500 CEOs, some 99% have a college degree. Similarly, of the Forbes 400 richest people in America, 81% hold postsecondary degrees… the fact remains that people with college degrees still earn much more — and are more likely to have a job to begin with — than people without.

However, it is worth mentioning that the value of money put in college is diminished due to the receding quality of education.

Do you think college is still a good investment nowadays?

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Sources:
Report: First two years of college show small gains; USA Today
The Myth of the Millionaire College Dropout; Time
Top 10 Most Ridiculous College CoursesTop 10 Useless College Degrees & Classes; Make the list

Cheap on labor, excessive on endorsement.

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An elegant, dandy pair of Nike shoes would cost you around $70 to $150. Little did the public know that the production cost, meaning the materials, machinery, and rent that Nike spend in making a pair of shoe, is just $12. More intriguingly, the labor was just $2.75, or just 4% of the money the customers pay for a shoe with a check sign.

Workers in the production factory really earn a little percentage, and quite frankly are underpaid.

Most of the cost of the shoes came from advertisements. Tiger Woods, for instance, was paid $20 Million to promote the Nike golf division alone. In 2006, Nike spent $476 Million to get star-studded promotion of their shoes.

This engagement does not only apply to Nike. Before buying the Shape Ups Skechers shoes Kim Kardashian promotes, think of how much the noted Kardashian milks you some money. Just think of the workers who actually WORK and put together the materials to offer comfort for your feet and how they should get the percentage more. And think of how many hungry people will be fed, out of out-of-school children be educated, and millions of lives be improved when these shoe-makers’ cost of advertisement are focused on providing support for them.

Do they really need advertisements? People already know that Nike makes shoes, so why spend millions on promoting it more? We only have a pair of feet. Everytime we buy more than necessary, remember the children who travel to school using worn-out slippers or barefoot across rocky terraces and cross a river, even rivers.

Do you need a celebrity do endorse your shoes?

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Sources:
The Cost of a Pair of Nike Shoes; citinv.it
Investors Fret About Nike’s Star Endorsements; MSN Money

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