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”
Even the most delicious food in the world can only be enjoyed in front of me. No matter how great someone’s advice or ideas may be, you must confront them at a time when you can accept them to show genuine interest. There are countless wonderful things in this world, but they aren’t truly good unless they’re on my timeline. Even if I have a lot of money, it isn’t mine until I spend it. Only then does it become my money when I use it for myself, as there’s no satisfaction in not enjoying the benefits. Therefore, the timing depends on my situation. If you genuinely want to change your life, you should focus on altering your environment and circumstances, not just your determination. - Joseph’s “just my thoughts”