Tuesday, November 13, 2012
The subject of the day is Opportunity Cost:
Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen). It is the sacrifice related to the second best choice available to someone, or group, who has picked among several mutually exclusive choices. (Wikipedia)
So often we complain about not having enough time, or money. Most of these shortcomings can be overcome by self control. Of all the things I learned in college, this is the lesson I use on a daily basis. I feel it is one of the most valuable lessons in life.
As a writer, I must decide if I am going to spend two hours enjoying someone else’s imagination by watching a movie, or will I spend the two hours delving into my own creativity. I usually choose the latter.
As a consumer, I gave up smoking and drinking years ago. This not only saved me a few hundred dollars a month, it also saved me future monies on health issues. The extra money could be used for many things. The healthier body goes without saying.
As a human, I had to elect to dissolve the resentment toward my ex-wife, if I ever wanted to have a meaningful relationship. This also reduced my stress levels. The chance of amorous adventure has replaced solitude. My ulcers are healing.
Opportunity cost exists in every decision we make. Be it 3 hours on FB, an hour of online porn, a few hours of on-line gaming, a gallon of ice cream, a candy bar, or an affair. I am not saying all these things are bad. I am just saying before you spend an few hours playing, insure your daily duties are done; before you buy that $20 CD, insure you have the gas to get through the week. Any choice you make has an alternative. The most difficult thing to do is realize the positive outcome of giving up one action for another. So, think twice before you make your next rash decision or indulge in your habit.
NOTE: earlier today, someone messaged me and asked of my "best learned lesson in college." Well...there you have it. Fell free to message me any questions and I will deliberate and indulge. Thank you.