Cashtoons

Opportunity Cost 2

June 04, 2022

When deciding how to spend, save, or invest your moola,

money

The money advice you hear can pose arguments about what the optimal choice is. Do you pay down your debt with the highest interest…

high interest

or pay the debt you can actually pay off the fastest?

debt

Do you wait for that big tax refund,

tax refund

or have less taken out of your paycheck every month?

less money

The answer? Are you going to actually save or invest the little extra you get in your paycheck every month or are you more likely to just spend it than you would that big tax refund?

Question dollar

Will watching one debt totally disappear be motivating for you and keep you pumped to pay the next debt, even if you are paying more in interest in the long term?

fight debt

Sometimes the best choice is the one that will keep you pumped to reach or money goals, or make it easier to make good money choices. Sometimes actually doing something that is good is better than debating about what is optimal.


© 2022