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Opportunity Cost - Definition "Opportunity Cost" is what needs to be given up to get something. This is different from an item's price. Imagine you want to buy some stock for your virtual portfolio - you can afford one share of either Apple () or Alphabet, Inc. (). Your Opportunity Cost of buying one is that you cannot also buy the other, meaning you'll miss out on any potential returns and dividends. This problem appears in every choice you… Read More...Business
Personal Finance
Spending Plan - Definition of Spending Plan A "Spending Plan" is exactly as it says - a plan of what you will be spending each month. There are usually two parts - your "fixed" spending and your "variable"… Read More...
Receipts – Keeping and Tossing - When you are getting your financial records organized, it is important to keep track of your spending, and with your spending comes receipts. If you think about a typical shopping trip, it is easy to… Read More...
Budgeting and Spending Strategies - Building a budget or spending plan is tough. Sticking to the plan is even tougher. Thankfully, there are a few ways you can game the system to make sure you stay under budget, and your… Read More...Renter’s Insurance - “Rental Insurance” is taken out on property you rent to insure against damage. Rental insurance works like a lighter version of Homeowner’s Insurance. Why Would I Need Rental Insurance? As a renter, this insurance does… Read More...
