Archive for July, 2007

Decision Factor #2: Opportunity Costs

Tuesday, July 31st, 2007

Two roads diverged in a wood, and I– I took the one less traveled by, And that has made all the difference—Robert Frost The Economist.com has a nice definition of opportunity cost: The true cost of something is what you give up to get it. This includes not only the money spent ...

Decision Factor #1: Preferences

Monday, July 30th, 2007

Tell me what you eat, and I will tell you what you are—Brillat-Savarin Preferences are the key to starting your personal finances. I don’t think financial websites emphasize this enough. For example, consider the articles “Skip Graduate School” and “Unpaid Internships are a Waste.” While the articles make valid points, their ...

First Lesson: Personal Finance is NOT about Money

Friday, July 27th, 2007

If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability -- Henry Ford In my opinion, personal finance is about financial independence. It is about having the proper knowledge, ...

Welcome to Mind Your Decisions

Friday, July 27th, 2007

Welcome new readers. If you’re coming from Yahoo Finance, Freakonomics, or Lifehacker, here’s the quick intro. I write a game theory article every Tuesday. On other days, I discuss smart money and life decisions. You can get all of my articles in the RSS feed or through email updates. My quest ...

Welcome

Friday, July 27th, 2007

Welcome new readers. If you’re coming from Yahoo Finance, Freakonomics, or Lifehacker, here’s the quick intro. I write a game theory article every Tuesday. On other days, I discuss smart money and life decisions. You can get all of my articles in the RSS feed or through email updates. My quest ...