Millionaire Acts

Opportunity cost analysis is one of the main foundations used in making financial decisions. In strict accounting terms, opportunity cost is not really a cost or an expense. However, it maybe relevant in making decisions with financial repercussions. Wikipedia says that opportunity cost has been described as expressing the basic relationship between scarcity and choice. When you are torn between making decisions with mutually exclusive results, then one benefit should be sacrificed and

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Well, aside from the obvious reason that you need it, whether for capital or other expenses; borrowing money can help you to manage your finances if you know how to leverage debt. That is to know the difference between good debt vs. bad debt. In this article, I will expound more on the idea of debt leveraging by using other people’s money instead of yours. Good debt makes the rich gets richer. There are very few entrepreneurs who did not borrow money to grow their business. If you can

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Dissatisfied with the terms of your current credit card? Think of ways how you can get credit card companies to waive fees, lower your interest rates or increase your credit limit. Pick up the phone and try calling them right now. Anybody can do it. It takes persistence, organization, and patience. You also need to have credit options. You need to be able to transfer your credit balance to another credit card and fire your current credit card bank. Choose the best among them.   Get tough.

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Today’s On the Spot Light features the 20 Richest Billionaires in Finance Industry as featured in Financial News by Matt Turner. Everyone is affected by the global financial crisis. Even the world’s richest billionaires. According to Forbes, last year, the world had 1,125 dollar billionaires. However, today that number has been decreased dramatically to a meager 793. An astounding $1.4 Trillion were wiped out and vaporized in an instant.   Topping the largest losers was Anil

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The Rule of 72 is a formula used in finance particularly in investments. This is a general rule that answers the question: ”How many years will it take to double your money?” You don’t have to make difficult calculations as this rule makes it easy for you to calculate. Depending on the given rate of interest, you can probably evaluate it mentally in your head. Let’s see the following examples to determine how it works:   In how many years can you double your money

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