Quote:
Originally Posted by jimjamuser
I can basically agree with that. Well stated. Economics 101 was merely a relatively easy course designed as an introduction only.
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Finance goes over compound interest on saving for future value
buying a latte daily versus saving daily, impulsive buying can sink future buying
saving for a house versus buying a latte daily, most benefit analysis
interest payments and cost for borrowing total payments over lifetime
refinancing traps due to interest amortization (how the bank makes money on you!)
credit card financing versus cash
cash flow putting all expenses and income onto the same page.
Renting/leasing versus buying cash flow analysis
Risk analysis for identifying a better investment from a poorer investment
cars, houses, hot stock versus long term stocks
sweat equity versus buying new,
depreciation on a two year old car versus buying new.
Portfolio theory for not putting all your eggs in one basket, index versus individual stock
Buy low Sell high is independent from taxes, not because of taxes.
Gambling odds, gamblers fallacy, with risk of ruin calculations
These economic decisions can be taught which can overcome parentally learned rules of thumb from human biases.
good luck