Hidden costs

We’re aware of how much something costs. But what we forget about are things like what has to be given up to purchase, or what space will be taken up by the purchase, or transportation costs, and a great deal many other things.

It’s impossible to foresee every opportunity cost to an item, but there are major ones we should be mindful of.

  1. How many hours of work does this one purchase equal?
  2. If we didn’t purchase, what would we do with this money?
  3. What purpose is this purchase serving?

That last one is where hidden costs can really creep up. Is it a necessity? Or a want? Or just frivolous spending. Think about it, before spending your hard-earned money.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s