Chris Farrell: On financial opportunity costs

  • Article by: CHRIS FARRELL
  • Updated: October 12, 2013 - 2:00 PM

I gave a talk recently on personal finance and financial literacy at Century College in White Bear Lake. Students, teachers, and people from the surrounding community (including a furloughed federal government employee) crowded into a conference room. The students were engaged and asked good questions. Events like this push me to focus on what’s really important when it comes to managing money.

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lauradzOct. 17, 13 8:19 AM

An important part of personal finance is to live beneath your means. I read a lot about retirement and personal finances, but lately there is little written about living on less. Chances are if a young person learns this lesson and stays out of debt, retirement is not a big issue. Some think of this concept as a sacrifice, I think it offers freedom.

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fawnhallOct. 25, 13 7:47 AM

I think a more petinent response to the question is a college degree worth the oppourtunity cost is "it depends on the degree." A lifetime of paying interest on student loans for a Communications or Art History degree is not oppourtunity cost well spent. Engineering, Computer Sciene, and many other degrees provide for creativity and renumeration.

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