>Equivalence. Basically, the idea that two things can be functionally equivalent (or close to equivalent) even if they look very different (and conversely, that two things can be superficially similar but functionally quite distinct). For instance, paying off a credit card at 10% is equivalent (as a first approximation, at least) to investing that money with a guaranteed 10% rate; once one sees this, it becomes obvious why one should be prioritising paying off high-interest credit card debt ahead of other, lower-interest, debt reduction or investments (assuming one has no immediate cash flow or credit issues, of course). Not understanding this type of equivalence can lead to real-world consequences: for instance, in the US there is a substantial political distinction between a tax credit for some group of taxpayers and a government subsidy to those same group of taxpayers, even though they are almost completely equivalent from a mathematical perspective. Conversely, the mistaking of superficial similarity for functional equivalence can lead to quite inaccurate statements, e.g. "Social Security is a Ponzi scheme".
[1]http://mathoverflow.net/questions/74707/mathematical-habits-...