I’m not a huge social media guy, but I can get sucked into the fray as easily as anyone else. Last week I was watching a training video on instagram and unfortunately looked through the comments section. What I found was disheartening.
Although completely unassociated with the content of the video, the comments were full of people berating the trainer for being “too expensive”. This trainer worked in a functional fitness style gym and a majority of the comments were based around the fact that boutique training is too expensive. They reasoned that people that own such businesses are elitists that take advantage of others.
This is far from the truth.
I’m going to make an argument that no such thing exists. Nothing in the marketplace is “too expensive”. Not a single thing. There are certainly things that we personally can't afford to buy, but that's not the same as being overpriced.
Stick with me and I’ll explain.
If you grew up like me, the phrase “that’s too expensive” was commonly used. This way of thinking about the world is often times passed down from generation to generation. Especially when you grow up in an economically depressed area. Unfortunately, it leaves each said generation with an inaccurate view of the world, money, and a lot of limiting beliefs about themselves and their potential. This phrase used to be common in my vocabulary as well.
Fortunately, several years ago I learned that perceived expense is 100% subjective. This means that expense is completely individualized and based on how much VALUE an individual places on said service or item. Therefore, as an individual we cannot label an item/service as “too expensive” because our in depth value system is unique to us. Instead of “that’s too expensive”, we need to start reframing into “that’s not of value to me” or “the cost is too high for ME”. The emphasis here is on the individuality of expense.
Let me give you a few examples:
I live in the south. I HATE sweet tea. Although I know that’s highly offensive to many, I unapologetically think it’s gross. You can buy an extra large sweet tea at McDonalds for 99 cents. That price for me is way too high. Does that mean Mickey D’s sweet tea is too expensive? Absolutely not. They crush the market and McDonalds has been a business powerhouse for decades. To me, their food is garbage and I would never spend $10 bucks for it. However, there are people who eat McDonalds weekly (or daily) and love it. Those people have a vastly different value system than me. That’s ok.
Let’s keep going down the rabbit hole.
According to business insider, June 2022 was an all-time record month in regards to automobile financing. According to said article, in June 2022 the AVERAGE American household spent $712 a month on car payments.
I had a couple immediate thoughts.
I really went into the wrong field.
Do people really spend that much on vehicles???
I had to reel my thoughts back into reality. I own two very mediocre vehicles that are completely paid for. I don’t plan on ever having a car payment for the rest of my life. Does that mean driving a luxury car is too expensive? No way. I just don’t value driving a fancy car. I don’t even like driving. I would rather spend my money on other things. But for some, their commute or driving experience may be one of the highlights of their day. Their friend circles may bond around driving a Tesla. I don’t know, I’m not them. To them, that’s $712 well spent.
One more example and I’m done. According to The Ascent Online 50% of Amazon prime members spend between 100 and 1,000 dollars a month on prime items. I think we’ll all agree that Amazon has changed the world. Is 200, 300, 400, 1000 dollars a month too expensive though? It simply depends on the person.
What are some key takeaways from this?
1. Use your “too expensive” gauge to teach you about what you truly value.
-Sometimes this can be positive reinforcement. Sometimes it can be a harsh realization that your actions and beliefs don’t align as well as you think they do. For example, if you theoretically value health and wellness, but everything you encounter in this area of life "costs too much" for you, then you may want to re-evaluate. Maybe your goal is to live a minimalistic lifestyle, but your budget says you spend 600 dollars a month on Amazon. This litmus test gives us practical feedback on what we truly value and allows us to adjust accordingly.
2. Don’t be afraid to value different things than those around you.
-Your best friend drives a nicer car than you. That’s cool. Good for them. Don’t feel pressured into buying a fancy car if you don’t care about cars. Likewise, don’t feel weird about spending money on things you love. Love fitness? Spend your excess money there. Have a deep rooted fascination with Italian art? Maybe traveling to Italy is important to you. Stick to your guns.
3. Rephrase your lingo
-Don’t degrade someone else’s business or prices based only on your personal preferences. Just because you don’t love a restaurants food, doesn’t mean it’s not a phenomenal restaurant. Just not for you. Just because a gym charges $200/month doesn't mean it's not worth every penny. It just may not be to you. Value is subjective.
I hope this helps you reframe the market place around you and gives you some insight into your OWN values.
If you’re selling something, it’s not too expensive. If you’re buying something, it’s not too expensive.
Thinking differently is what's actually too costly. You may go your whole life and not know what you truly value.
Stay Kinetic Friends.
Dr. Levi Kerby is a physical therapist, orthopedic certified specialist, and owner of Kinetic Performance and Rehab in Winston-Salem, NC. He enjoys fly fishing, guitar, various forms of fitness, and treating active and motivated individuals.
If you're dealing with an injury or pain, you can contact Kinetic Performance and Rehab directly below.
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