Case study: Money is good for nothing unless you know the value of it by experience - Series 1 out of 10

January 3, 2018

Introduction

Money is good for nothing unless you know the value of it by experience. I like to write a case study to support the argument.

Case study 1

In 1999, I supported my mom and paid for her condo in the city of Yichun, it costed me from $8,000 to $10,000 US dollars. Now it worth $100,000 US dollars in 2018. I can not claim any ownership but I learned the value of $8,000 US dollars.

I count my asset this January 1, 2018. My cash asset is less than $100,000 US dollars, I worked full time over 9 years in Canada, and also net income from 1999 to 2001 is over $110,000 US dollars.

Now I know the value of $8000 US dollars. It started from 300/ month as gift to my mom from January to December 1999, once my sister had $3000 US dollars, she paid 50% down payment for 890 square foot condo in the city of Yichun. And then she pushed me to pay the rest. 50% in 6 months.

I did not learn the value of $8,000 US dollar. a condo, a home, what that really means to a family and my mom.