The Opportunity Cost of Giving

Economics studies how and why people allocate and use their limited resources. Everyone regardless of age, wealth, or ethnicity has 2 basic resources: money and time. Opportunity cost is the cost of choosing one decision over another.

Money:

I got a call the other day from Alliance Defending Freedom asking for financial support for their many ongoing legal battles (1). As someone interested in politics and the constitution these battles are very important to me. But then Glenn Beck called, asking for donations for the Nazarene Fund to evacuate as many Christians as possible from the trouble brewing in Afghanistan (2). Meanwhile Samaritan’s Purse was also pleading for supplies and personnel for Haiti following their 7.2 earthquake (3).
I only have a limited amount of money and I cannot support every request though they are all important to me. By choosing to support one organization I am simultaneously choosing to not support another.

Time:

“Look carefully then how you walk, not as unwise but as wise, making the best use of the time, because the days are evil. Therefore do not be foolish, but understand what the will of the Lord is.” - Ephesians 5:15-17
Time is the ultimate equalizer. Everyone has the same 24 hours to go about their day. How we spend that time is up to us. Some spend their time working out, while others watch TV, or some might even write economics essays. No matter what your hobby or pastime, the same principle applies, for every minute you spend doing one thing you are also choosing to not spend it somewhere else.
God has given each of us a limited time and limited wealth on this earth. “So, whether you eat or drink, or whatever you do, do all to the glory of God.”-1 Corinthians 10:31


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