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A trade-off in Personal Finance refers to the decision-making process where one must give up something in order to gain something else, often due to limited resources like time or money. For example, choosing to spend money on a vacation might mean sacrificing savings for future investments or delaying a major purchase. Understanding trade-offs helps individuals prioritize their financial goals and make informed choices that align with their values and long-term objectives. Balancing these trade-offs is essential for effective financial planning and achieving desired outcomes.

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2mo ago

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