cost of dating
This is the average cost for a date of people our age
what is 50
Setting aside $50 each month for dating is an example of this.
What is saving or budgeting?
Spending $100 on a dinner date instead of saving it for a new car is an example of this
What is opportunity cost
This is the most popular thing to do on a date
What is going out to eat
The money spent on a school dance could have been put into this type of account to earn interest.
What is a high-yield savings account or stocks
Buying a $60 ticket to prom is an example of this.
what is cost
The money spent on a school dance could have been put into this type of account to earn interest.
What is a trade-off?
The money spent on a school dance could have been put into this type of account to earn interest.
What is a savings, mma, or brokerage account?
Buying chocolates on Valentine’s Day because everyone else is doing it is an example of this.
What is herd behavior?
The idea that $100 today could become $150 in five years is based on this concept.
What is time value of money?
Buying a new outfit just for prom is considered this type of expense because it’s directly tied to the event.
What is discretionary cost
If you invest $100 instead of spending it on a date, the amount it grows over time is called this.
What is return?
Choosing to go on a date instead of working a part-time job is an example of this.
What is the opportunity cost of income?
Choosing a cheaper restaurant for a date shows this kind of consumer decision-making.
What is price sensitivity
Economists say people who think about future costs and benefits are doing this
What is long-term planning?
Driving to pick someone up for a date uses gas, which is this kind of expense.
what is variable cost
If you spend more on dates than your allowance or income, you are in this situation.
What is overspending?
Spending $200 on a fancy dinner date instead of using it to buy a textbook for class means giving up this academic benefit.
What is educational investment?
Tracking your spending on dates helps you manage this.
what is cash flow
Investing money instead of spending it now is a way to build this.
What is wealth?
The total money spent on tickets, outfits, and food for a school dance is called this.
What is the total cost?
Allocating money for dates, food, and entertainment is part of this financial plan.
What is personal budgeting?
The $40 spent on flowers could have been put into a savings account earning interest. That missed growth is called this.
What is foregone interest
Choosing a brand-name restaurant for a date instead of a cheaper local diner is influenced by this type of consumer preference.
what is brand loyalty?
The idea that small savings today can grow into big amounts later is called this
What is compound interest?