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”
Some people live because of ‘doubt,’ others because of ‘confidence,’ and some because of ‘guess.’ Often, people make a living based on the positive factors we think of, but the opposite is also true. In fact, there are instances where positive factors threaten livelihood. Some people thrive on accuracy and certainty, while many live amid the unsettled and uncertain. The world is not always bright. There are many different ways to live and principles to follow. What do I do for a living? - Joseph’s “just my thoughts”