Site Archives opportunity cost
Many people are tightening their belts in these uncertain economic times. One of the first places we often look to save money is finding projects around the home that we can do ourselves rather than calling the professionals. All do-it yourself projects are not created equal, though, and there are times when you are better [...]
I don’t have an iPhone (I don’t even have a cell phone, but that’s a whole other story), but if I did, I would definitely buy the Opportunity Cost of Money iPhone app. This iPhone app makes the cost of your purchases concrete. Basically, it’s an iPhone app where you list all of the things [...]
Many times, when I help someone with their finances, I discover that their biggest obstacle is that they don’t understand opportunity cost and the impact it has on personal finance. In order to take advantage of an opportunity, something else must always be given up. Opportunity cost is basically what you lose by choosing one [...]
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