Hidden Price Tags

By Rachel Coltharp

Cost is a tricky thing. We are often fooled into believing we know what we are paying. We also often overlook the fact that the price reflected on a tag, on a sticker, or in a menu is just the beginning. Everything comes with a hidden price tag.

Welcome to Rachelconomics 101. We will explore the hidden price tags of opportunity cost and emotional cost.

For the mathematicians out there, my formula is this: (Price + Maintenance Cost) + Emotional Cost + Opportunity Cost = Total Cost. I know the economics majors are choking right now, and I do apologize for throwing Rachelogic and Rachelmath into your neatly organized world, but roll with me, okay?

Let's look at an example of eating dinner at a restaurant. Since my theoretical dinner is a healthy one and has no adverse health affects requiring additional financial investment, I have $0 in maintenance cost. If I choose to eat junk, driving up my weight, sugar, and blood pressure, resulting in health care costs, early death, and lost wages, then further financial cost would have to be factored in.

I can figure the formula like this; a $10 dinner, plus a $2 drink, with tax, and a 20% tip will be $15.60. So, on the surface, the initial cost of my dinner is $15.60.

Behind these numbers lies another cost, opportunity cost. What I spend on dinner cannot be spent somewhere else. Looking at it from a different angle, the opportunity cost of eating out might be the lost opportunity to purchase a house. Over a 10-year span, one dinner out per week, per couple, ($16,224) equals a 10% down payment on a $160,000 house.

Look at long-term opportunity cost, not just initial price tag cost, The same couple, renting a house for an additional 10 years (at $1000 per month) equals $120,000 in lost equity. Thus, the opportunity cost of a once a week dinner out, can end up giving that $10 dinner an opportunity cost of $230.77 per dinner!

Opportunity cost is not just money.

Thrift stores and estate sales are filled with people's  "Oh, I just HAVE to have it!" which eventually becomes, "Ahh, just get rid of it." Sadly, we often leave houses, garages, attics, and sheds full of STUFF, but the treasure chest of memories is bare.

Things like your health, your spouse, your children, and grandchildren; all come with expiration dates. Time spent with them, building relationships, investing in shared experiences should be considered in opportunity cost. The emotional cost of not spending time with them now may cost us millions of emotional dollars down the road.

I heard a broken-hearted pastor tell his story a few years back. He recounted how he left at the crack of dawn and returned home at dark his entire married life. When his wife of 40+ years died suddenly, he found himself visiting her grave every day, spending his lunch hour there. He told me, "The time I spent doing pressing things cost me more that I ever could have imagined. I'd give it ALL up to go back and spend more time with her. Why didn't I spend my lunch with her?" When she was alive, lunch with her every day seemed too costly. Her death put everything into perspective.

Health and strength fade. Parents die. Spouses die. Children grow up. And sometimes children die. don't overlook the opportunity cost of time.

Emotional Cost. If you spend money based on your momentary feelings, you most likely will not spend it wisely. Understanding spending habits by giving them an emotional price tag can help tremendously. There are some emotional costs that simply cannot be figured with mere numbers. There are occasions when the stress involved in planning, preparing, serving, and cleaning up simply outweighs the cost of paying someone else to do it. All emotional costs are not equal. Sometimes time is more valuable than money.

When my infant daughter was in the hospital, my husband and I took 12-hour shifts with her. Buying dinner to eat together in her room had an emotional price tag that cannot be reflected in numbers. The money we spent on those dinners bought more than our food. It bought us two hours together, with her. When you don't know if your baby is going to live, the opportunity cost of losing 2 hours with her vs. maybe not getting a house doesn't even matter.

However, when I'm just tired and don't want to cook, the emotional benefit cost of asking my husband to bring home food does not even compare to those hospital dinner costs. When I was merely tired, the opportunity cost of maybe not getting a house helped me suck up some reserve energy and cook! We have a house today because of it!

I've heard it said, "Time is money," but I disagree. Time is so much more than money; money you can make more of, time is limited. Learning to evaluate which is more valuable to you can help you invest them both wisely. Don't judge an investment merely by the sticker price because everything has a hidden price tag.

Editor's Note: Rachel is the wife of Brent Coltharp, pastor of First Apostolic Church in Aurora, Illinois and Superintendent of the UPCI's Illinois District. They have four children; James, Reagan, Lincoln, and Grant. Some years ago, Rachel spoke at an Apostolic Writers Banquet here at New Life. He husband ministered to us during that weekend. We were richly blessed by their ministry of the Word.

The Importance of Godly Wisdom

By Pastor Ken Foreman

Text: James 3:13-18; Proverbs 3:13-18

Happy is the man that finds wisdom. It's more important than money, fame, possessions, positions, power, honor, and strength. James 1:5 says, "The fear of the Lord is the beginning of wisdom."

Spiritual exercise is hard and continual work, and, like physical exercise, letting off means loss. The wise show works with meekness of wisdom. Ephesians 5:15-17 tells us to "walk circumspectly... as wise... redeeming the time." There are two types of wisdom; earthly (verses 15-16) and heavenly (verses 17-18).

• Earthly Wisdom (worldly) is...
• sensual - appeals to the flesh ("feels good")
• devilish - causes confusion ("envying, strife, and every evil work")
• manipulative, flatters
• earthly wisdom boasts and promotes itself.
• Heavenly Wisdom comes from above and is...
• pure
• peaceable
• gentle
• easy to be intreated
• full of mercy and good fruits
• without partiality and hypocrisy
• speaks the truth in love
• slow to speak, slow to wrath, quick to listen
• not a respecter of persons (appearances)
• heavenly wisdom is revealed by its works.

"And the fruit of righteousness is sown in peace of them that make peace." (James 3:18)

"The LORD is exalted; for He dwelleth on high: He hath filled Zion with judgment and righteousness. And wisdom and knowledge shall be the stability of thy times, and strength of salvation: the fear of the LORD is His treasure." (Isaiah 33:5-6)

A Fool to the World...

By Justin Jeffrey

It is better to be a fool to the world than to be a fool to God.

Those whom God counts as wise must be...

• United with Him - United as in the Body of Christ.
• Belief - one mind (I Corinthians 1:10). 
• Doctrine - one accord (Acts 2:1).
• Love - one Spirit (Galatians 5:22).
• Grudges have no place.
• Envy has no place.
• Our flesh is imprudent (foolish, unwise). Only God is prudent (wise).
• Flesh is foolish - bound to and for the "easy way."
• Following the flesh is folly.
• Fight the flesh - crucify, mortify, prune, purge.
• Flesh gets swallowed up in pride, self-will (me, my, mine).
• You're not perfect - Only God is perfect! - Once you realize that, you can move forward.
• "To Be Like Jesus" is the goal.
• God's Word says to love God more than the world and the things of the world. (I John 2:15-17; I Corinthians 1:26-31).
• We like to be thought of as strong and wise, but the world's wisdom and strength is foolishness with God.
• Our job (goal) is for our flesh to decrease so He can increase. We need to make room for Him to grow in us, filling us with His wisdom and strength.
• Learn how to love like Jesus loves.
• Stop judging! That's not our job!
• God can save anybody - and - He can use anybody!

Editor's Note: Justin serves as New Life's youth leader and is a blessing to our sound department, A willing worker, his faithfulness in multiple avenues of service mark him as a godly example in word and deed. We're proud of you, Justin!