Comments on: Are you Factoring Opportunity Cost into your Decisions?

By: online degree programs

Wed, 23 Jan 2013 12:53:16 +0000

Time is money I think the say was because of this only. What say folks? However pursuing a business degree online can be helpful in earning more money which you can learn more about here: http://www.edegreeusa.com/program-business.aspx

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By: Free in Ten Years

Wed, 31 Oct 2012 08:25:40 +0000

I’m definitely a proponent of trying to do things yourself where possible. For me, the satisfaction of doing it myself is part of the reason I do it – it also normally means that you have to work less to achieve the same outcomes because you need a lower income to provide the same standard of living. The trade off is your time spent on the job. Your point about making more money doing other things is a good one, but you have to actually do it to make the trade worth it! I hear so many people say “my time is worth more than $10 an hour” to justify things like not doing the lawn, and then do no extra work in their spare time to make up for it.

This sort of thinking gets people to outsource way more than they should without the necessary corresponding increase in income.

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By: Money Life and More

Thu, 11 Oct 2012 23:05:22 +0000

Opportunity cost is figured in during some times and not during others. I guess it depends on what I’m factoring for. Congrats on your Alexa going sub 150k

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By: DC @ Young Adult Money

Thu, 11 Oct 2012 22:40:56 +0000

In reply to CanadianBudgetB.

@CanadianBudgetB That’s great! I hope to make factoring in opportunity cost a more automatic part of my thought process.

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By: DC @ Young Adult Money

Thu, 11 Oct 2012 22:30:31 +0000

In reply to moneymatters.

@moneymatters I definitely agree with you on this one. I have slowly dropped off from gaming over the years, to the point where the only game I really play is Madden. I still get urges to play but there is so many other things I would rather do with my time than play video games, such as the things you mentioned.

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By: DC @ Young Adult Money

Thu, 11 Oct 2012 22:28:51 +0000

In reply to SavvyScot1.

@SavvyScot1 I definitely agree. I think pursuing a higher-income job is usually a beneficial thing, especially when you factor in children. Making $30/hour at a corporate job sure beats working 3 part time jobs that pay the same. Might take some sacrifice, but in the long-run it might provide thousands of more hours with the same income!

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By: DC @ Young Adult Money

Thu, 11 Oct 2012 22:26:56 +0000

In reply to sethA.

@sethA Home Improvement was one of the main things on my mind while I was writing this post. So many people say “oh well you could actually do this relatively easily if you just spent some time on it.” Well sometimes it’s not worth spending 1000 hours learning how to do some sort of renovation and then actually doing it! That’s my opinion at least.

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