Did your grandfather tell you the story of getting a hot dog and coke for 5 cents? This list of items allows you to see what a dollar was worth in 1940 compared to today. President Barack Obama gets paid $400,000 per year. That sounds great until you compare it to the $1.4 Million that President McKinley was paid in 1940, using the consumer price index to adjust for the $50,000 salary at the time. Here are a few comparisons to show the change in the value of money over the past century:
ü Postage Stamp: $.02 in 1900 (2009 Value: $.53) vs 2009 cost of $.44
ü Minimum Wage: $.25 in 1938 (2009 Value: $3.81) vs 2009 wage of $7.25
ü Hershey’s Chocolate Bar: $.04 in 1908 (2009 Value: $.87) vs 2009 cost of $.71
ü Movie Ticket: $.36 in 1948 (2009 Value: $3.21) vs 2009 cost of $7.50
So some things have increased in value and some have decreased. Take a little time today and use these top websites for financial advice.
Tags: money, value, inflation, cost, best, top, list, consumer, price, index