Living Life's Numerous Opportunity Cost
Opportunity cost is mostly living the potential loss of a choice that was forgone. We mostly live the consequences of opportunity costs every day of our lives and this is because with every day that passes we're on spot, making choices and decisions and forgoing some others including the potential benefit that comes with them.
In life, everyone is looking to maximize everything, this is why we prefer to be close to perfection with every decision we make. The reality of life is that there's no potential benefit that hardly comes with disadvantages.
Most of the choices we make aren't because they don't come with a disadvantage or a downside, we make those choices because the potential benefits seem better than the downsides.
The Present Potentiality Of A Choice
I remembered asking a friend to ignore a bank job and go freelance but he felt freelance wouldn't give him a bulky salary, even though he'll enjoy the flexibility and quality of life that comes with freelancing.
The truth was that he decided to work in the bank because he didn't have all the information that was necessary to make a better choice. He saw a better advantage with going for the bank job, but fast-forward to today, he's living the opportunity cost of freelance opportunities.
The truth is, time can change anything. Volatility lies in our choices because we mostly don't make decisions that are based on stability, we mostly make decisions based on how advantageous they are to us in the present.
The Experience In Scale Of Preference
Honestly, we cannot choose a better future and live in a terrible present. In reality, scarcity tends to prune our abilities to make good choices and this is why sometimes we make a choice and the consequences of that choice we didn't make are continuously prevalent in our lives.
This is because we need experience in forming our scale of preference. In life, having money makes it easier to make mistakes, the consequences of an opportunity lost are mostly consequential when we do not have money, this is why we mostly spend so much time, training ourselves to make better choices.
However, even if we have money, what if the opportunity cost is mostly about time and its loss and how money cannot buy time?
Gain, Loss & Risk
I have spent the last 6 weeks being sick and looking for an apartment to rent, I could have gone to the hospital because my anemia was becoming something else, but I chose not to. Instead, I preferred using all that time to look for a house, spending extravagantly on agency fees, transportation, and time.
The potential gain was that I could get a place, tailor my life, and seek new ways to make money and the potential disadvantage was that my illness could escalate and then I'll have to be admitted to the hospital with immediate effect.
I could have spent a long time in the hospital, maybe one month, maybe more. I'll have lost time and still lose out on all other opportunities.
The Consequences Of Being Blindsided
In reality, no one can say they're not living the consequences of their opportunity costs. It's prevalent in almost everything we do.
One of the ways to mitigate this is having experience and having money. Money mitigates all financial consequences and having experience certainly helps us from learning from mistakes.
Because no human is omnipresent, this is why we're prone to failure from miscalculation and misjudgments but because we're good with adaptability we find ways to live and cope with consequences in other to thrive.
Interested in some more of my works?
Keying Into Sophistication & Exposure To Forestall Economic Revolution
Money: The Learning Curve & Translational Process
What Makes A Job Opportunity Lucrative?
Shopping Online & The Illusion Of Buying Cheap Things
The Humanistic Approach Towards Scarcity & Competition
Spending & Accumulating: The Low & High Point Of The Crypto Seasons.
@Josediccus, your brother-in-pen & heart
I'm hoping to reach more people who are broken at heart and spirit, so share on any platform or reblog
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