Economics 101 – the entry level college course in economics is primarily concerned with the organic forces of supply and demand. While Econ 101 is focused on buyers, sellers and markets, Econ 10U involves market level choices that you make every day. Almost everything you do involves choices and trade-offs. When you boil it down, that’s what economics is about…trade-offs. All of your resources, financial, mental, and physical are limited yet you often have unlimited demands placed upon these resources. In the end, you have to make decisions… you choose one path over another.
A core component of classical economics is that you act rationally based upon what you perceive to be your best interest. That is, you will buy more of something at lower prices than you will at higher prices. Sometimes this proves true but emotions get in the way. What you choose today, necessarily impacts what your choices are tomorrow. Economics helps set your personal (financial) weather forecast.
Economics is very personal, thus the title of this piece, “Economics 10U. The decisions, the actions, (and yes, inactions) all combine into your set of personal economic indicators. These indicators provide a trendline, a path that either contribute towards or detract from your overall financial health.
Lack of clear short term and long term goals can translate into poor choices. This indiscipline combined with bad or biased information creates a dangerous combination that can be financially fatal. We know a better way. We provide personal advice driven answers instead of impersonal computer generated results. Ready for a real conversation?