What do burgers, kids, and movies have in common? They all involve opportunity costs.
When you buy a burger, you can’t use that money to rent a movie, pay down debt, or invest. And when you sit down to watch a movie, you’ve traded your time and money for two hours of entertainment.
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Last week I received a forwarded email:
OPEC sells oil for $136.00 a barrel. OPEC nations buy U.S. grain at $7.00 a bushel.
Solution: Sell grain for $136.00 a bushel. Can’t buy it? Tough! Eat your oil! Ought to go well with a nice thick grilled filet of camel ass !!!
…
Great idea! $30 a bushel (the same price [...]
When it comes to financial decisions, we often throw logic out the window and kick our common sense to the curb. This is a costly habit—one our legislators are particularly prone to make.
Here’s two foundational rules to remember when spending your own money and when it comes time to vote.
Nothing is free
Marketers are skilled at [...]
The media smells blood in the water.
With the frenzy surrounding a possible recession, the causes, and what the government should or should not do, listening to professional and academic economists is probably a good idea. (Personal finance bloggers’ commentary is also summarized below)
Economists tend to agree that we are in or are heading into a [...]
Do you know that feeling of anticipation, when you hold a new book, knowing full well it will be a joy to read from start to finish?
Russell Roberts has managed to craft another such a gem. But The Invisible Heart is more than a good story, it’s a love letter about economic freedom.
Roberts has a [...]
When is a book more than a book? Occasionally a book comes along with an idea so powerful, so simple that it threatens to transform the world.
Russell Roberts’ The Choice: A Fable of Free Trade and Protectionism is more than a book.
Roberts offers us a glimpse of a different America, an America free from foreign [...]
Financial success is possible, likely, even inevitable for people who work hard and make the right decisions (it also helps to live in a free country).
So what is financial success?
If we asked 100 different people to define success, we’d hear just as many different definitions. Financial success is no different. Our personal definitions call for [...]
