Learn more about moneyandinvestments with this collection
The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
Saving Up
Every penny counts.
As corny as that may sound, no amount is too small that you won't benefit from saving. Having an emergency account is a leverage that one can achieve to have.
It's better to have something on a rainy day than nothing.
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Keeping It Positive
The future is uncertain and whatever that may happen will happen eventually but we can also still choose to make sound financial decisions from a place of gratitude.
When we allos ourselves to look back on our failures and successes and don't dwell on them, every day is a new opportunity to...
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Tackling Newly Acquired Debt
If you have newly acquired debt, here are some suggestions on how to tackle them without getting overwhelmed:
- Take a breather and remember that things happen all the time, you're not alone.
- Review all credit card statements and other potential bills, list them down cohesively (...
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Refinement of Planning and Execution
Refine your current budget and create attainable goals
Identify at least two areas that you would like to work on within your current budget and decide whether you want to decrease your expenses or place an additional budget for it.
By evaluating how much you've spent on a certain ma...
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CURATED FROM
IDEAS CURATED BY
Related collections
Other curated ideas on this topic:
The habit of saving more
The key to the habit of saving is to save a bigger percentage the more you earn. When you start, you may only be able to save 10% of your income, but it is a mistake to commit to the same amount if you earn more.
However, it's a losing game to only focus on saving money. L...
Do one thing well, not three things poorly
Many people want to do well at work. You may risk and do much but will have nothing to show for it.
You won't be able to do everything this week or this month. That is okay. As long as you are consistent and stick to the process. It's important to take time out and ask how...
When you should use cash
- When you have an emergency: Cash is accepted everywhere, so have some on hand. Dave Ramsey recommends having at least $1,000 in an emergency fund.
- When you want to limit your spending: Psychologically, we spend less money when we use cash as you ca...
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