What is Opportunity Cost?

The concept of “opportunity cost” is one of the most valuable tools a person can use in their life. I understand that in many cases, the thing we learn about in school and textbooks can seem totally useless. Throw in words such as “I learned about it in my economics class” and people’s eyes really begin to glaze over. I personally love the topic of economics; however, I can fully understand and respect your perspective of potentially finding it insanely boring. All I ask is that you take one simple principle from the world of economics and apply it to your life: opportunity cost. It’s a very easy concept to understand and extremely powerful when you apply it to your life. One of the most valuable assets we have as  humans is “time” itself. Those who learn how to use their time the best are those who will find success. When you understand how opportunity cost works in a real world way, you’ll quickly find yourself starting to manage your time better. How does opportunity cost work? What is opportunity cost conveying to us? I discuss that and  more in this quick, but powerful, video!