Friday, January 12, 2007

Trading a Gucci Bag for Pills & Other Tough Choices

Scenario: You have a $4,500 real Gucci purse, (a fashion industry job perk). For you, this to-die-for accessory has status appeal and emotional appeal going back to childhood, when your mom gave you her favorite purse, which resembled that Gucci bag.

But what if your Dad needed expensive meds (about $200 for a month's supply of pills), but had no money and no health insurance to cover the tab?

Question: The pharmacist is not into medicine for charity, but she likes your $4,500 purse. Would you give up the purse to finance 15 months of meds for your Pop?

Ugly Betty Solution: Betty trades her Gucci bag (a work bonus and a competitive edge in her image-conscious fashion workplace) for meds and I would do the same.

I'm reading Winning, by Jack Welch, former CEO of General Electric, and in that text, he talks about difficult trade-offs in the home-work equation.

"Work-life balance is a swap--a deal you've made with ourself about what you keep and what you give up."

--Winning by Jack Welch (with Suzy Welch)

We all make difficult trades regarding family, money and personal pursuits.



The Frugal Duchess Boutique

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