“Weighing opportunity costs is crucial”
Lately, I’ve been talking a lot about being pulled in multiple directions. I’ve talked about sitting down and really considering what I want to be doing. What will help me achieve my goals? The biggest thing for me is weighing opportunity costs.
Opportunity Cost: “The loss of potential gain from other alternatives when one alternative is chosen”
Keying in on the dividends that I receive from my involvements, and deciding if my time can be better spent. This is absolutely something that I think everyone should truly consider. Our time is precious. Time is something that you can’t buy more of, so it is in my opinion, the most valuable thing we possess. Therefore, you really have to plan out your time, and decide whether you are doing the right thing with it.
Sleeping and eating are my two necessities in life. I absolutely need my sleep, and I relish times that I can take a few moments to catch my breath while eating. Besides that, my time is pretty open reign. I have a lot going on, and I’ve been weighing the opportunity costs of everything I do. I see a lot of returns on my accomplishments, but am I seeing enough?
A lot of this comes up when we talk social. I love to hangout with friends, and I think having a social life is absolutely a part of a balanced life. But less time on social and more time working might be ideal – especially when you are trying to make things happen. For today’s daily motivation, consider the idea of opportunity cost. We often do things we like; but is it truly the best use of our time? Will we reach our goals if we continue our current ways???