Quote:
Originally Posted by pylon
That was a rough one, as it was a free cruise I won through the company.So the only way I kinda justified it, was the full retail value of the cruise without any sort of discount and flights was about $6000, (which of course could be had for about $3000 if you shopped around.)
So I convinced myself it was really only a $1000 loss, until the bill showed up that logic changed.
Now any time I go anywhere wiuth the intent of gambling, I stick $1000 cash in my pocket, and walk if I double it or lose it. The good news is, using that logic, I am up $5000 since the incident, I have actually tracked the losses/winnings on a spreadsheet for the last 10 years since. Once I get back my $7000, I will never gamble again.
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A proper method would discount your winnings at an appropriate discount rate like 3% with you having pay the NPV of the $7000 you lost ten years ago. It'll work out to more than $7000 you have to pay back.