Quote by Kevin HA - Deepstash
What Is Opportunity Cost

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

What Is Opportunity Cost

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Kevin HA

"Having to spend money all at once can be painful. But paying yourself, little by little, helps to ease that"

KEVIN HA

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The Key Principle

The Key Principle

The key is to save small amounts over relatively long periods of time so that you can then buy the things you want without any guilt or worry

Computers and phones, for example, are two staple items that most of us tend to buy regularly. That means we can ...

91

455 reads

Figuring Out How Much You Need to Save

Figuring Out How Much You Need to Save

If you want to buy anything, you first need to know how much it’ll cost. Most stuff will have a fixed price, but some things may fluctuate in price. If that’s the case, figure out a ballpark range for whatever it is you’re trying to buy.

At best, you’ll have exactly what yo...

80

303 reads

Automate Your Savings

Once you set up your savings goals, chances are, you won’t even notice the money getting pulled from your checking account on a weekly or monthly basis. 

You just need to do the hard part of setting up your automated savings.

To do this, you'll want to use an app or bank accou...

83

317 reads

Figure Out How Long You Have to Save

Figure Out How Long You Have to Save

The best way to think about this step is to figure out when you’ll need to make your purchase, then divide that time period into months or weeks.

For example: If you tend to spend about $1,000 on a new phone every two years. If you do the m...

81

257 reads

Buy Whatever You Want

Buy Whatever You Want

After completing the above three steps, the day will come when you can buy the thing you want, completely guilt-free!

There’s another added advantage with saving for the things you want to buy. Sometimes, you’ll find that the thing you thought you wanted so badly isn’t some...

78

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yugjain

Generalist. Great minds discuss ideas, average minds discuss events, small minds discuss people.

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Having One Income Stream

Having One Income Stream

When we invest in ourselves and spend less time on entertainment and consumerism ideals, we can actually build a more stable career. 

With our free time we can start a side business, learn how to make money work for us instead of us working for money. By having multiple str...

Pressure purchase

Many people are motivated by guilt and peer pressure to spend their cash when they don't really want to.

Save money by paying it forward instead of paying for something because you feel pressured to.

Being An Introvert

Being An Introvert

Before partying, ask yourself if you might have that feeling in this situation, and think about how you can prepare for that. (Having an extroverted pal along, or conversational topics to rely on, can help ease the pressure.)

Just because you tend toward introversion doesn’t mean you can’t...

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