What Is A Dollar Worth?

  Bingalau 14:52 09 Jul 2007
Locked

This may be convertible for use with Sterling, I haven't looked at the site yet but it sounds interesting....

What is a Dollar Worth?

Have you ever wondered how much your money would have been worth in a different time? Well, now you can find out with this handy calculator! This is basically an inflation calculator. It is really incredible to watch the differences in what money could buy at different times.

The years you can put in the range go between 1913 and 2007 and you can set it for any amount of money. Above the calculator, there are two links that will lead you to information on the CPI (Consumer Price Index) for the calculator’s database. If you scroll down past the calculator, you will find some examples on how to use the calculator. It also gives you a good idea on how to correlate the information to different topics.

So, for example, I put in the year 1950, the amount of $50.00 and then the year 2000. I wanted to see how much money had changed over a period of 50 years. The results were that a service or product that cost $50 in 1950 would have cost $357.26 in the year 2000. That’s seven times as much as it would have cost in 1950! That’s just crazy and very shocking to me.

Now, the only other thing I can think of to tell you that you might need to know is to click the Reset button to clear the calculator when you want to put in new figures. Pretty simple, right?

I had a lot of fun comparing prices between things I own (like my computer, videos, magazines, books, etc.) to what they might have cost in the past. I really loved the movie theater ticket example provided by the Web site as well.

Check it out!

click here
Amanda

  leo49 15:15 09 Jul 2007

A more considered approach[ie taking various inflation measures] for the UK:

click here

  Stuartli 15:23 09 Jul 2007

There are UK equivalents such as:

click here

click here

It must also be remembered that although, in general, the prices of consumer goods such as electronics, cars, computer systems and components etc have dropped despite inflation, specifications had improved dramatically.

  Stuartli 15:23 09 Jul 2007

Bit slow there...:-(

  Bingalau 16:56 09 Jul 2007

leo49 and Stuartli, Thanks for those sites. I have bookmarked and will have a trawl through them later.. I always compared prices by the Mars Bar method. Frinstance, a bar before the war cost twopence so you could buy 120 for one pound. Those were the days. There were eight in our family and we were not very well off. So we always bought one to share after Sunday lunch as a treat. Sunday lunch was always Roast meat of some kind, roast potatoes and peas. Monday was "Fry-up" of the left overs from Sunday and Tuesday was always "Scouse" Sounds like I am leading on to that song by The Scaffold "Today's Monday". Enough of this rubbish, it's tea time....

  Stuartli 18:20 09 Jul 2007

The original guideline after the war was how many weeks' wages it would take to buy a particular product such as a suit, a car or something reasonably high in value, than it took before the war.

Over the years the number of weeks' wages required fell gradually.

  Bingalau 18:28 09 Jul 2007

Yes and isn't it interesting the way the price of electronic goods has come down. When I first got married a Black & White TV set was way out of our reach. Now it's possible to buy a decent colour set quite cheaply.

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