One Thing You Must Consider Before Cutting Costs

  1. Cutting costs is one way to boost savings. But cutting costs does not mean one should cut ones nose to spite ones face.

 In other words,  before you decide to cut costs, determine the potential opportunity cost, that is what you stand to lose if you cut the cost and save some the money. If the opportunity cost is not too high- if you can live with the opportunity lost,  then you can cut the cost.

As the Yorubas would say,  sheni nice day-have a nice day.

By OzoIgboNdu1 of Igbo Defender

Digital marketer and Marketing analyst