What was someone able to purchase with the equivalent of a $100 back in 1930 vs now? I was to see how the same amount of money back then goes so much further than it does now.

The purchasing power of money has significantly eroded due to inflation over the decades. To illustrate the difference between what $100 could buy in 1930 compared to today, we can use an inflation calculator. Keep in mind that these estimates are approximate because inflation rates can vary for different goods and services.

According to the U.S. Bureau of Labor Statistics' inflation calculator, $100 in 1930 is roughly equivalent in purchasing power to about $1,517 in 2021 (the latest data available up to my knowledge cutoff date). So, let's compare what $100 in 1930 could buy versus what the equivalent purchasing power would be in 2021:

1930 (equivalent to $100) purchasing power:

• In 1930, $100 could buy a significant amount of goods and services. You could purchase a new car for around $600 to $700, a decent home for a few thousand dollars, or pay for several months' worth of groceries and household expenses.

2021 (equivalent to $1,517) purchasing power:

• In 2021, $1,517 could still buy a variety of items, but the purchasing power is greatly reduced. You might be able to cover a month's rent or mortgage payment, buy a mid-range laptop or smartphone, or fill up your car's gas tank multiple times. However, it would not be enough to buy a new car or a house in most areas.

This comparison demonstrates how inflation has eroded the value of currency over time. The same nominal amount of money, like $100, can buy far less today than it could in 1930, making it important for individuals to consider the effects of inflation when planning for their financial future and long-term savings.