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Plan and act today so you have no regrets tomorrow...
This is one of the most fundamental principles of economics that we all use but often without using a systematic ways to analyze it. One key thing to learn is marginal cost vs. marginal benefits. Understanding the concept of "marginal" vs "total" can really help one avoid costly mistakes of sinking more resources into unworthwhile pursuits, not getting the best returns on investment, etc.
In my house, I made it very clear to my kids that any medical expenses that resulted from their intentional behavior are their responsibility, such as:
So guess what -
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