In class, Jeff asked us if we would want a $100 today or $100 a couple years down the road. Many classmates had different responses, some argued that they were desperate for money and some would rather receive it later. I chose to receive the $100 today. The amount of purchases that could’ve been made with the $100 20 years ago is significantly more than what can be bought today. The longer I wait to receive the $100, the more the value of the money will decrease. What I can purchase with the $100 today will be less than what I’ll be able to purchase couple years from now. As retailers struggle to win over customers it is a sign that economy is changing. The article below explains how store hours are being extended and the change in customer spending. People are losing jobs and as a result, cutting down on their spending. To sustain a family and meet basic necessities seems to be harder than it ever was. Goods are more expensive now, but wages have only increased slightly or not at all. People aren’t capable of spending as much as they were before. Therefore, retailers are struggling to attract customers.
Elaine Chang
Just another freshmen's ramblings
