Financial literacy is the ability to effectively manage various financial skills. It leads to greater monetary stability and reduces stress. Warren Buffett emphasizes the importance of personal investment
Start with exterior renovations before interior work. Break renovations into smaller, manageable projects. Live in home for several months to understand needs. Check building restrictions and obtain necessary permits
Overhead refers to ongoing business expenses not directly related to product/service creation. Companies must pay overhead regardless of profitability. Overhead affects business profitability through net income calculation
CapEx are major, long-term purchases for physical assets like buildings and equipment. OpEx are day-to-day expenses like salaries, rent, and utilities. CapEx benefits company for more than one year, OpEx for one year or less. CapEx cannot be tax-deductible, OpEx can be
SG&A includes all non-production business costs. It covers overhead costs necessary for daily operations. SG&A differs from COGs, which focus on production costs
Operating expenses are ongoing costs needed to keep a business running. They include rent, utilities, payroll, office supplies, and marketing costs. Operating expenses can be fixed (constant) or variable (fluctuating)