“Price and value aren’t the same: Don’t pay too much”
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Take note of these great quotes by Warren Buffett on Investing!
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The idea is part of this collection:
Learn more about moneyandinvestments with this collection
Identifying and eliminating unnecessary expenses
How to negotiate better deals
Understanding the importance of saving
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With value being in the eyes (and experience) of the consumer, the price they are asked to pay must be (much) lower. The entrepreneur’s job is to figure out at what price their product is attractive, and then choose a cost structure that allows for profit. In other words, the price is a
You lose money when the price you pay does not match the value you're getting. For example, when you're paying high interest on credit card debt or spending on stuff you hardly use.
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