For most of us, it's 6 days to payday and we are seriously counting down

Some of us already have a list of things we must buy to keep up with our baby boy or baby girl lifestyle

We just want to enjoy this life because na only one we get. YOLO is our mantra

Before you go ahead with your plan, have you heard of OPPORTUNITY COST?

Maybe? Maybe not?

Okay...

Simply put, opportunity cost is what you give up when you put your money into one thing over another

For example, if you choose to buy the latest iphone just

...to "feel among" instead of putting that money into an asset class that can produce more income for you, you have literally eaten your seed

Let's say the phone costs 300k and you buy it instead of putting it in an investment that will earn you...

10%, which is 30k extra making your total cash 330k, your opportunity cost is not the 300k you used in buying the phone. It is the 330k you could have gotten if you had done the right thing

The amazing thing is that your opportunity cost...

is more than the 330k if you let the 30k interest compound over time

Before you buy that item, reason it with your church mind if you truly need it

Opportunity cost really helps you think about your money in a different light