ECO 100 Week 5 Discussion – Considering Tradeoffs You Make Every Day

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Considering Tradeoffs You Make Every Day
Let’s talk about two trade-offs we face every day: how we spend our time and money. There are many things we can do with our money. Money spent on one thing isn’t available to spend on another. Also, there are many things we can do with our time. We can spend time doing one job or another. We can spend time with family. We can spend time in leisure.
Start your discussion by responding to these questions:
Describe a trade-off you have made in terms of your income or your time.
What choice did you make with your money or time?
Why did you make that choice?
Be sure to respond to A peer who made a trade-off in their post to which you can relate. Discuss and compare your decisions.
Professor and classmates,
Recently my family and I went to Indiana for a week of vacation to visit my family. We had to make trade-offs for both time and money to make this trip happen. The first was our time, as we both had to choose to use our PTO on our trip to Indiana instead of saving our PTO and going on an anniversary trip next month. This was a difficult decision as our 10-year anniversary trip last year was canceled due to staffing issues at my work, so we postponed it til this year. We decided on the trip to Indiana as this was the last year we could go over Labor Day weekend before our son starts kindergarten. The financial trade-off we had to make happened the day before we left to come back from Indiana. We were taking our kids to a museum close to Chicago and had a flat tire after hitting debri on the interstate. We took our car to a local tire dealership, and they said that the tread was low enough that we should really replace all of the tires instead of just the one that went flat. We hadn’t planned on buying new tires until after Christmas so that we had a little more wiggle room to buy Christmas gifts. We made the decision that driving 12 hours home on a new set of tires was safer than just replacing 1 tire and possibly hitting rain on the rain home and having an accident. So my wife and I decided that we would not buy each other Christmas gifts this year, which should allow us to still buy presents for the people we love. My wife is the one who had to make some of the harder trade-off decisions, as this was for my family, and she chose to do that instead of going on our own anniversary trip.
Requirements: 10-15 sentences no references

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