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”
Wise people don’t need managing, foolish people are unnecessary to manage, those who love you don’t require managing, and those who don’t love you aren’t worth managing. This is why I need to be more of ‘me’ rather than trying to conform to others; it also explains why the world is more likely to function properly if I take good care of myself. It doesn’t mean you have to live selfishly, but it does mean you’d better accept altruistic selfishness . - Joseph’s “just my thoughts”