Identify which household chores are using up your time.  Decide whether the time spent on these chores takes away from time spent doing something else that you consider more valuable.  Chores such as laundry and cleaning may interfere with work if you work from home a lot.  Also, time spent on housework may hinder your ability to partake in other more enjoyable activities, such as being with your children or pursuing a hobby.  Calculate the financial opportunity cost.  Suppose you work from home and earn $25 per hour.  If you hired a housekeeper, you would have pay $20 per hour.  The opportunity cost of doing the housework yourself is $5 per hour ($25−$20=$5){\displaystyle (\$25-\$20=\$5)}. Calculate the opportunity cost in time.  Suppose you spend 5 hours each Saturday on laundry, food shopping and cleaning.  If a housekeeper came once per week to clean and help with laundry, you would only have to spend 3 hours on Saturday finishing the laundry and food shopping.  The opportunity cost of doing the housework yourself is 2 hours. Suppose you are going to pay $4,000 per year to attend an in-state college.  The government will subsidy an additional $8,000 for your tuition.  But, you must also factor in the opportunity cost of not working while you’re in college.  Suppose you could earn $20,000 per year at a job instead of going to college.  This means that the true cost of a year of college is the tuition plus the opportunity cost of not working.  The total tuition is the amount you pay ($4,000) plus the government subsidy ($8,000), which equals a total of $12,000. The opportunity cost of not working is $20,000. Therefore, the total cost of a year of college is $12,000+$20,000=$32,000{\displaystyle \$12,000+\$20,000=\$32,000}. Other opportunity costs associated with going to college include the value of four years’ real-world work experience, the value of time spent on studying instead of other activities, or the value of what you could have purchased with the money you spent on tuition or the interest that money could have earned if you had invested it.  However, consider the other side of the coin.  Median weekly earnings is $400 higher for a person with a college degree than for a person with only a high school diploma.  If you decide not to go to college, the opportunity cost is the value of your future increased earnings. Whenever you make a choice, you are foregoing something else.  The opportunity cost is the value of the option you do not choose.  That value can refer to something personal, financial or environmental.  If you choose to buy a new car instead of a used car, the opportunity cost is the money you could have saved on the used car and how you could have used that money differently. Suppose you decide to spend your tax return on a family vacation instead of saving or investing the money.  The opportunity cost is the value of the savings account interest or the potential return on an investment. Remember that the value does not necessarily just refer to money or tangible assets. Consider how a choice will impact your intangible assets, such as happiness, health, and your free time.
حدد ما إذا كنت ستستعين بمدبرة منزل. حساب تكلفة الفرصة البديلة للالتحاق بالجامعة. حدّد تكلفة الفرص البديلة في حياتك اليومية.