We all have choices to make in the use of our time. Do I mow the lawn, go to the neighborhood picnic, or take a care basket to an elderly friend? Each is a good thing. Which is the best? IF I do one, does that mean I can’t do the others? Sometimes this is true. When you have time to accomplish only one thing and the others have to go by the wayside, that’s called Opportunity Cost. This is another Life Skill concept we teach at the Academy. Specifically, Do I go to the movie with friends – it’s the last night it’s showing, OR do I ride my bike down the trail as tonight is the only night my dad has to take me, OR do I study for a quiz I have tomorrow?
When I choose one, the consequences of not doing the other two is my Opportunity Cost. In making life decisions, we have to decide when the cost is too high to miss something. It’s a BIG GROWN-UP lesson and sometimes hard for even us grown-ups to grasp. But, it’s a great way to help our kids to learn how to make time use choices. Think greatest long term benefits and least adverse consequences!