Learn the notion of "alternative cost".

Alternative cost or with other words opportunity cost, is the lost benefits of not making another decision.

You can use this to measure in money, but in anything else as well. E.g.: If you work a lot, you don't have time for your family.

This is an important perspective if you want to make good decisions. This might remind you, that you shall not only consider/compare doing or not doing something, but you shall also add to the comparison doing other things as well.

E.g.: Buying a new TV. You could think that your alternative cost is spending that money. But you could also invest that money, save it for an apartment, buy x number of beers, etc. But by buying that TV, you basically cut off the other options.

#frugaltip #frugalism #frugal #minimalism #minimal #minimalistic #grownostr #nostr #coffeechain #plebchain #fire #financialindependence #lifestyle #savemoney #moneysaving #hardwork