On Tradeoffs

On Tradeoffs

Life is all about what you are willing to let go for what you want.

A lot of us do not understand this in practical.

We want our desires to be the only choices available.

There is always something you will have to sacrifice to get what you want.

Do I take a night flight for a cheaper amount or do I take an early flight to pay more?

You have to choose between letting go of your money or spending more of your time or vice versa

Tradeoffs are the currency of decision making. In Economics, it is defined as any situation where making one choice means losing something else, usually forgoing a benefit or opportunity. It is also known as the opportunity cost

Trying to get or do it all always leads to a downfall. For most of the time, it is impossible. Hence, knowing what to trade off is a skill everyone should learn.

People who know how to make tradeoffs are always more successful than those who do not.

Many young folks act as though their time is infinite by trading it off for less important things

We judiciously guide our money, but are very loose with our time knowing fully well that money lost can be recovered but time lost can never be recovered.

Tradeoffs are in every layer of our lives. What to eat, what to wear, what to do and even down to the person we decide to end up with.

One of the challenges with making good tradeoffs is comparison. We are constantly using other peoples’ live as the basis for judgement.

When making tradeoffs, you are the only important person in the equation.

Let this sink.