Spending money on current living expenses reduces the amount you can use for saving and investing for long-term financial security is an example of a(n):

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This statement describes the concept of opportunity cost, which refers to the trade-off between choosing to spend money on current needs versus saving and investing for future needs. By spending money now, you are giving up the opportunity to save and invest that money for potential long-term benefits. This decision requires careful consideration and budgeting to ensure that you are making the best use of your financial resources.

Spending Money on Current Living Expenses Reduces the Amount You