Opportunity cost is the value of the next-best choice available. Opportunity costs are not restricted to monetary or financial costs: the real cost of output forgone, lost time, swag, pleasure or any other benefit that provides utility should also be considered.
While opportunity cost is a term used in economics, it is also something I apply to my everyday life. “If I do this, what am I giving up, what could I have done instead?”
It is easily applied to maid service.
It takes one person cleaning an average size house of 1800 sq/ft anywhere from 3-4 hours to clean it thoroughly top to bottom. Or if you are like most people, that actually gets spread out over a week in 30 minute to 1 hour increments and your house never seems to get clean!
Ask yourself, what else could I have done with that time I spent cleaning.
- Spent time with my family
- helped my child with their homework
- worked on that project I never have time to work on
- had some “me” time just to relax
- called a friend I have been needing to catch up with
The possibilities are endless.
While a financial budget must always be considered when making a decision about hiring a maid service, don’t forget to account for your time wasted cleaning!