Opportunity 🍀 Cost 💰 ✅

[hender]

Opportunity cost is the potential benefit you miss out on when choosing one alternative over another.

It's the value of the next best option that you forgo. Understanding opportunity cost is crucial for making informed decisions, as it forces you to consider the trade-offs involved and the potential benefits of alternatives you didn't choose.

Recognizing this helps in making more effective and informed decisions in various aspects of life, from personal finance to business strategy.

• Trade-off:
  When you choose one option, you're making a trade-off by giving up the opportunity to pursue another.
  
  
• Not just monetary:
  Opportunity cost isn't always about money. It can also involve time, effort, or even happiness.

 

[AlgoTrader]

I took a big decision last week and still kind of thinking and second guessing whether the decision is right.
This post, especially the last line helps me to remember why I made the decision and why it is still the right decision.
Thanks for the post

 

[cardio_guycardio_guy is verified member.]

I have been a victim of opportunity cost earlier in my life. Many times, due to my less risky nature, I always selected safer options, ignoring the riskier option. But the opportunity cost of ignoring that option was higher. I never cared about it untill recently.
Like you rightly said, it is not just about money, but time, effort and happiness as well. Thinking about a lost opportunity and worrying was my habit earlier. But now I have been practicing to be happy with the other option chosen. But this plays a big role in all small and big decisions of everyone's life.

 

[hender]

I took a big decision last week and still kind of thinking and second guessing whether the decision is right.
This post, especially the last line helps me to remember why I made the decision and why it is still the right decision.
Thanks for the post

Thanks for sharing your thoughts, now I can post my reason to start the thread.

Income Tax Payment
IPO 'NSDL'
SBI Card
My Recent experience falls under 3 threads.

 

[hender]

I have been a victim of opportunity cost earlier in my life. Many times, due to my less risky nature, I always selected safer options, ignoring the riskier option. But the opportunity cost of ignoring that option was higher. I never cared about it untill recently.
Like you rightly said, it is not just about money, but time, effort and happiness as well. Thinking about a lost opportunity and worrying was my habit earlier. But now I have been practicing to be happy with the other option chosen. But this plays a big role in all small and big decisions of everyone's life.

Indeed a Real Situation you described about many of us.👍 Only the words are yours, but many can relate with the emotions.

 

[hender]

Thanks for sharing your thoughts, now I can post my reason to start the thread.

Income Tax Payment
IPO 'NSDL'
SBI Card
My Recent experience falls under 3 threads.

For NSDL IPO Application and Upcoming Raksha Bandhan Festival & 15 August Kite event 🪁 🪁 🪁, to keep funds Free
Paid for (Family Member) Income Tax with SBI CC with Transaction Charges of .85% ₹ 65.45 for (7700 Challan Amount)
IPO Not allotted, but issue opened @ 10% Premium ONLY.

Opportunity Cost : INR 7700 @ 65.45 for a month.
Potential Gain(Chances) - IPO if allotted, 7-8% Return post 20% STCG and expenses.
(2)- Funds are Free/ available for Festivals and till month end.
(3)- SBI CC Milestone