This is going to be a short one, but don't let that throw you. This is actually a really important lesson about personal finance. Pay attention and really think about the lessons taught in this post. They'll save you thousands, if not 10s of thousands of dollars in your lifetime. Opportunity cost - in this sense, refers to the trade off you make by owning something. For example, say you buy a $5 DVD. Well, you don't just pay $5 for it. You also pay for the DVD rack you eventually have to … [Read more...]