"Money is an idea"....

Money is NOT real. It work only because we all choose to believe in it as a legitimate buying/selling medium.

What would happen if suddenly the guy in the TV store wanted a piece of gold instead of notes? Of course you'd walk away and go to another TV store.

And if you wanted to pay with a nugget of gold the store owner would tell you where to go.

BUT, if we all changed. If we all lost our belief in the paper money...

> A good way to find out the perceived value
> of money for a given person is to ask the
> question..
> "If you were to go to a casino... How
> much would you be prepared to lose at the
> roulette table, black Jack or the slots
> before you walked away?"

Why is this a good way?

> The amount of money a person is prepared to
> gamble and lose is a good indication of a
> person's ability to take a risk... Money
> wise.

This is a false statement. Not true.

> If a person is prepared to lose $100 at the
> casino and walk away without blinking an
> eyelid.. Then it's not hard to sell that
> person an ebook for example for that amount
> or less, if you can convenience them it will
> make them money, etc.

I'll bet you $100 this is not true as well.

In fact, I'll bet you that $100 that the inverse is actually the case. The person who does not blink at losing $100 when Gambling is a Hard Sell on an info product. And even harder on an eBook!

In fact, research indicates a direct correlation between non-gambling and success and gambling and non-success. In other words, successful people do NOT gamble while unsuccessful people Do.

You only have to look at the gamblers to see this. And read Stanley's Millionaire Next Door series. He discovers this as well.

> Also people spend money based on
> "lots".
> A "Lot" is an amount of money we
> "think in".

Sorry, disagree with this.

That's why things end in 99... because people don't think in these "lots". It ends in 99 and we generally think of the number BEFORE the 99, not up.

$8.99 is eight bucks to us. $299 is two hundred to us.

Michael Ross.