Considering Various Costs in Decision-making

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Financial literacy conversations should not only revolve around mathematical aspects of decisions but also consider opportunity costs, psychological costs, and costs to relationships. Each individual must evaluate and decide for themselves the subjective costs that are acceptable and those that are not. It's crucial to understand which costs would ruin your day and where you are willing to take responsibility, while also recognizing the areas where you seek freedom from certain burdens.

The Minimalists speak with Lisa Ann about the benefits of renting clothes, homes, cars, books, tools, and more. They also talk about when it’s best to own a thing instead of renting it.

Discussed in this episode:

What should I do with my wardrobe if my style preferences constantly change? (2:21)

What’s one thing you’d rather rent than own? And what’s one thing you’d rather own than rent? (21:37)

How does letting go of things help people let go of resentment? (46:55)

Listen to the full Maximal episode on Patreon: patreon.com/theminimalists

Detailed show notes: minimalists.com/podcast