Imagine a situation which you might have already faced in your life. You go for a purchase of shirt at a store. The price for non-branded shirt is very much less in comparison with a shirt from some “XYZ” brand. It’s a type of indirect cost. If I have to allocate that indirect cost to something, then it would be for the brand name it carries.
The above example is what you know as indirect cost of a product from the seller’s perspective. This kind of indirect cost is paid when you purchase a product. But there is also another kind of Indirect cost which you will pay if you do not buy the product. What? Cost for not buying? Don’t worry its indirect and you won’t feel you are paying the price. But sadly, on some occasions, you should feel so. I will carry you through some examples where you should feel so.
Imagine there’s an amazing philosophical book that will question your way of thinking and have the power to change your whole perspective about the world. The book contains extensive knowledge and a lot of wisdom from a very wise author. But you choose to not buy that book because you think the book is somewhat overpriced or you think that it may take a lot of time for you to finish that book and you may close the book and put it in the rack before completing the book. You didn’t incur any cost for the purchase. Do you think the money you didn’t pay for not purchasing the book is the money you saved? Of course not my friend! There is still an indirect cost you are paying for it.
The cost of a good book is not what’s on its price tag. The cost is what you pay in your life because of not reading that book. That book would have made you to make mature and wiser decesions for your life, but anyway, you didn’t make the purchase.
Here’s another example: You saved some bucks because you didn’t subscribe to the gym membership. Now you saved the money, right? Again, a big ‘NO’. For the gym membership is not only the price for it. The price includes your humiliation and guilt which you go through because of not being fit.
Let me give you one more example: You choose not to purchase a particular academic or non-academic course which was very much important for you. Reason being the same. That you don’t want to spend money for it. In this case also the money is still in your pocket. But you are paying the price by not learning that course, which would have enhanced your skills or enriched your knowledge.
So, whenever we make decisions regarding our purchases, we consider the price we pay for buying it but not the price we pay for not buying it. We ignore the healthy meal, a good tuition or education institution, a good book just because we can’t justify the cost for the purchasing it. But we don’t do the cost calculation of not purchasing it.
So, my advice is this much simple, before you make a decision for a purchase don’t just think what you have to pay for the purchase but also have a thought for what will you have to pay if you choose not to make that purchase.
Hare Krishna.
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