$50 in 1968 worth $335 in 2014
Would you buy a bible worth that much in today's terms?
shareHell no, I wouldn't buy 20 bibles for that price. Then again I'd never buy a bible, this movie is airing on the 14th by the way.
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MovieChat Forums > Salesman (2021) Discussion > $50 in 1968 worth $335 in 2014
I was wondering what that would be adjusted for inflation. I figured 50 was a lot but would not have guessed it was that high. Of course, we also have to consider that more people took the church more seriously back then. Also, people had less bills and distractions back then. There was no cable bill, internet bill, satellite radio bill, cell phone bill etc.
shareThey had to spend a lot more of their income on food and clothing though:
http://www.theatlantic.com/business/archive/2012/04/how-america-sp ends-money-100-years-in-the-life-of-the-family-budget/255475/
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And according to the social security index the average income then was about 5600 dollars a year :/
shareActually the average income was just over $9,000 per year. It's hard to really adjust prices per inflation, because making ends meet for families was more prioritized. Minimum wage was $1.60 hr. and kids weren't as spoiled as they are today when it came to pressuring their parents to buy them gadgets, Xboxes, Playstations, etc. More and more people are living beyond their means today than ever and being shackled in debt has become a norm.
shareI got married in 1971 making about 2.25/hr. Both of us age 21.
Both of us combined less than 4 bucks/hr. and did very well.
Minimum wage at the time less than 1.80 bucks/hr.
New car payment, rent about 90 bucks/month, gas 35 cents/gal.
Car was 1971 Duster purchased end of model year.
We bowled, went to movies couple times/month, beach trips in summer.
Things have gone well for me.
Pacing yourself financially and not buying everything at one time helps.
Having Champagne tastes but a beer budget could lead to big problems.
Also having a parent who worked in banking all her life helped.
I've never bounced a check, though I've raced a couple of them to the bank to prevent overdrawn fees.
If I can do it, others can do it.