Chapter 2


The idea of Present Value lurks just below the surface of an overwhelming number of decisions we make on a day-to-day basis, and being aware of its presence and how to incorporate it will lead to making better choices. In this chapter, we will look at a few of the common types of mundane decisions that arise in everyday life and see how taking a few extra minutes to think in terms of Present Value can often shed an entirely new light on those questions.

Do We Need a New Refrigerator?

Shortly after I began writing this book, my wife came to me and said that she was pretty sure we needed a new refrigerator. Needless to say, this was not exactly welcome news, and my fiscal defenses were immediately ...

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