The concept of opportunity cost highlights the importance of making wise financial choices from "summary" of The Concise Psychology of Money by Morgan Housel
The idea of opportunity cost is a powerful lens through which to view financial decisions. It forces us to consider not just the immediate benefits of a choice, but also what we are giving up by making that choice. Every decision we make involves trade-offs, and understanding the concept of opportunity cost can help us evaluate those trade-offs more effectively. When we make a financial decision, we are essentially choosing one option over others. By considering the opportunity cost of t...
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