From the moment we all first received payment for work, we have, either consciously or subconsciously, put a dollar value on our time.
When I was 10 years old, with no earthly expenses, responsibilities, or any other place to be, $10 to mow the lawn at my parents’ house felt like a dream. If it took me an hour to do it, at $10/hour I felt like I was winning big. My expenses were zero, and I was therefore making infinity times my monthly expenses. I had nowhere else to be and no other method of earning, so my opportunity cost was also zero. Every time the lawn would get barely long enough to cut, I’d be asking to do it again, in what I felt like was a chance to cash the same paycheck.Read More