One of the key principles of money is ‘opportunity cost.’ It means that when I buy something, I have to give up something else in return. We think we buy because we need something, but we often forget that we could buy something else instead. We rarely consider ‘opportunity cost’ when making a purchase. We do not compare other values against our needs. Buying something means giving up something else, but we often don’t realize it. When we spend money, we should also consider the ‘opportunity cost’; yet, in reality, we aren’t trained to do so. By making a purchase, we bypass the value comparison that may not offer any additional benefits. Maybe it’s because we lack knowledge, or perhaps the idea isn’t appealing. - Joseph’s “just my thoughts”
Not all of them are like that, but it’s not easy to say that many of those who have learned a lot know what they don’t know. However, when you acknowledge “I don’t know” what you don’t know, the wisdom gained from that ignorance enriches everyone. Learning begins with recognizing what you don’t know, while what you do know involves a clear understanding of that unknown. This awareness can help reduce the chaos of the world, even if just a little. - Joseph’s “just my thoughts”