When making their day to day financial decisions, individuals may make a mistake by ignoring the time value of money (TVM) concepts.

Think back and give an example of a mistake you made by ignoring the TVM in making a financial decision. Please be as elaborate as you can with numerical examples.

Alternatively, you could discuss a situation where you should incorporate TVM concepts before making the most appropriate financial decision. Again, be as elaborate as you can with numerical examples. Your initial discussion post should consist of 250-300 words.