Life Cost

Ever wonder if spending a little bit more on a new car rather than save the initially capital outlay by buying a cheaper new will eventually benefit you in the long term.

Here we are talking about life costing an item. Life cost simply means the total cost of an asset throughout its usable life span. Many factors are involved ranging from the interest rate on the loan taken to maintenance cost (spare parts, labour, special repairs, etc).

It is hardwork to calculate the life cost of any product but if one take sufficient effort in doing so, money save will be evident in the years to come.

Major on learning and gather tips from other so that we can estimate the optimum life cost choose preferably the lower life cost items.

Minor on impulsive decision making which will end up us to pay a higher price due to a bigger life cost.