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”
If you encounter heavy traffic jams during your commute, you should avoid purchasing real estate in that area. This is a clear indication that property prices have already significantly increased. If you cannot look beyond the superficial signs, you’ll always tread the same path as those before you, living a life dictated by others’ choices rather than your own judgment. - Joseph’s “just my thoughts”