Back in the corporate world I did many cost analyses concerning the costs for packaging a given product. Two primary resources were the cost of materials required and the cost and the availability of workforce. Here the opportunity cost was in developing one product and not another that had less return on investment.
Later in my working career I changed to the aerospace industry, taught myself database management and helped implement better organization. My opportunity cost was giving up packaging development.
Although retired, time and income are limited so daily I consider my opportunity cost. Do I spend time in prayer and in reading the Bible or spend time in frivolous activities? As for my fixed income, do I give to the Lord or spend money on myself. Cloths wear out and hairdos are good for a few days. Time spent with the Lord is priceless. Yesterday a couple who are missionaries in Lisbon were guest speakers at church. The small amount I gave to their organization gifted me far more than it did them.
Joshua 24:15, “And if it seem evil unto you to serve the LORD, choose you this day whom ye will serve; whether the gods which your fathers served that were on the other side of the flood, or the gods of the Amorites, in whose land ye dwell: but as for me and my house, we will serve the LORD.” Every day we have the choice, to serve God or to serve the world.
James asks, “For what is your life? It is even a vapour, that appeareth for a little time, and then vanisheth away.” James 4:7, “Therefore to him that knoweth to do good, and doeth it not, to him it is sin.” This would be a sin of commission rather than a sin of omission. Does a sin of commission would carry a greater penalty than a sin of omission?
James gives good advice, 4:15, “For that ye ought to say, If the Lord will, we shall live, and do this, or that”. 1 Timothy 6:19, “Laying up in store for themselves a good foundation against the time to come, that they may lay hold on eternal life.” I try to do God’s will, the opportunity cost of not doing so has eternal ramifications.
In the Parable of the Rich Fool Jesus taught about a rich man whose ground had “brought forth plentifully.” The man had so much that he was running out of room. His solution, pull down his barns, and build greater storage room then in time he could retire and eat, drink, and be merry. Oops, Luke 12:20, “But God said unto him, Thou fool, this night thy soul shall be required of thee: then whose shall those things be, which thou hast provided?”
Lesson learned, Luke 12:21, “So is he that layeth up treasure for himself, and is not rich toward God.” Rather follow Matthew 6:20-21, “20 But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal. 21 For where your treasure is, there will your heart be also.”