We often overlook the financial concept of “opportunity costs” because there is no immediate cash expenditure involved. Typically, we invest more time and effort in purchasing cheaper products. In contrast, wealthy individuals do not have to exert as much effort as those with fewer financial resources. When we factor in opportunity costs, we often find ourselves spending a similar amount of money on the same items, regardless of wealth status. For instance, if Bill Gates picks up a dollar that someone has dropped, he actually detracts from his financial standing due to the opportunity costs associated with the value of his labor. In this regard, he might save more money by choosing to rest instead of working. Ultimately, opportunity costs are the hidden expenses that can keep us in financial distress in the real world. - Joseph’s “just my thoughts”
Some individuals take the easier route instead of engaging in laborious tasks. It can be frustrating, but often there are clear reasons behind these unreasonable circumstances. In such cases, it’s tough to change the individual because they are embedded in an irrational structure. The issue lies not in the personality itself but in this structure. Changing the structure can lead to changes in personality. In reality, personality remains the same; it simply holds different significance within the context of the structure. - Joseph’s “just my thoughts”