Personal Finance

3819 readers

3 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

nieceandtows@programming.dev

nieceandtows@lemmy.ml

WandererLagomorph799@lemmy.ml

-7

should the US consider a currency redenomination? (lemmy.zip)

submitted 10 months ago by shortwavesurfer@lemmy.zip to c/personalfinance@lemmy.ml

40 comments fedilink hide all child comments

Prices of things are becoming absolutely insane. $800+ rent, $30,000 cars, $10 sub sandwiches, etc. It would be nice to do a 3/1 split and cut everything by 2/3. Then we would have $266 rent, $10,000 cars, and $3.33 sub sandwiches. Wages, debts, everything would drop to 1/3 what they are now. It would also make coins useful again since a vending machine soda would be 2 quarters again.

you are viewing a single comment's thread
view the rest of the comments

[–] walden@sub.wetshaving.social 6 points 10 months ago* (last edited 10 months ago) (2 children)

I don't really see a point in doing that. I dislike coins.

[–] johnjamesautobahn@beehaw.org 3 points 10 months ago (1 children)

I dislike coins too, but mostly because a dollar is the smallest useful denomination and anything below is rounding. In a 1900 era world where you could buy something material for a nickel or dime, it was worthwhile to use those coins.

[–] BraveSirZaphod@kbin.social 2 points 10 months ago

In the Eurozone, you have 1 and 2 Euro coins, which are super useful all the time for small purchases. I'd really love to see them here too.

[–] shortwavesurfer@lemmy.zip 1 points 10 months ago (1 children)

But why do you dislike them? Because in this event a coin would actually be worth using, where now it's just an annoyance.

[–] AnonTwo@kbin.social 2 points 10 months ago (2 children)

Does anybody like decimals? Even if you add more worth it's more math.

[–] shortwavesurfer@lemmy.zip 2 points 10 months ago

That's true. Have a look at Bitcoin where they are sending satoshis around (0.00000001).

[–] e_t_@kbin.pithyphrase.net 1 points 10 months ago

I kind of like how the Yen is denominated: all prices are integers. It would be roughly equivalent to pricing everything in cents, but at least there'd be no decimals.