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Friday, July 10, 2009

Financial Friday: What is your opportunity cost?

Over at the Financial Nanny, Alice blogs about opportunity costs and giveaways.

A few months ago, several nannies who are members of the INA sponsored an essay contest. The topic of the essay was “Why you are committed to being a professional nanny?” Now you may ask what does this have to do with finances. A lot of this essay contest has to do with finances. I saved $276 by writing a 300 word essay on why I am I committed to being a professional nanny. I saved that money by making the decision and taking the time during one day to write this essay. It took about an hour to write. So one hour of my time was worth $276. This is what my opportunity cost was
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