Business
According to dictionary.com, opportunity cost is “the money of other benefits lost when pursuing a particular course of action instead of a mutually-exclusive alternative.” What does that mean in laymen’s terms? Opportunity cost is essentially all the things you pass up on when you chose to spend your money on the item you purchased. Read more “Opportunity Cost”
Business
According to the dictionary.com, a need is “a requirement.” Which means it is something a person needs to survive. A want on the other hand is “something desired,” which means it adds pleasure but isn’t necessary. Read more “Needs vs Wants”
Business
A recent GoBankingRate.com survey reported that 38% of the surveyed consumers no longer use their checkbooks. Another 36% only use their checkbooks once a month or few per year. So what does this tell us about our consumer payment method? Read more “Checkbooks are Dying!”