PBS – Kara Norton
When purchasing a new vehicle, you can choose many add-ons and customizations. But while a sunroof, heated seats, and built-in GPS may sound appealing, they all come with a cost. Choosing to spend money on extra features could result in the loss of another opportunity, such as the ability to go on a road trip, see your favorite band play, or fulfill a preexisting financial goal. These losses are known as opportunity cost: the lost opportunity when you choose one option over another. It’s one of many subtle concepts that play an important role in personal financial management.
Read More: https://www.pbs.org/wgbh/nova/article/financial-literacy-education-game/