Here’s an obvious but important concept for you: everything we do is at the expense of something else that we can’t do.
Economists call this the “opportunity cost.”
If you go to the movies one night, that means you can’t also go to the theater. Or you can’t go work out. Or work on your business. Or stay home and cook for the week.
Of course, you could go to the movies one night, and then do other things the next day, but there is eventually a limit to the number of activities you can do.
If you buy a house, that means your down payment can’t be used for something else. And vice-versa.
There’s always an opportunity cost to what you can do with your time and resources.… Read More »