Time and money are always significant. Look at this scenario.
You can either do your own yard work or you can pay someone to do it for you.
You find that it takes you about 50 minutes to clip, mow, and otherwise clean up your yard each time you do it.
You do it four times each month.
Also, once a month you need to maintain the lawn equipment. That takes about 49 minutes in addition to you clipping, mowing, etc.
All of the maintenance and lawn work must be done on a Saturday because of your typical work schedule.
You are paid $ 18.75 hourly and get time and a half on weekends.
Alternatively, you can pay someone $ 50 monthly to do the work for you.
(a) Assume that your off-time has value at the rate you are normally paid. What is the monthly cost of your lawn care when you do it yourself and have no chance for weekend work?
(b) Assume that you have the option to work the weekend time you need to spend on your yard. So you must pay someone to do the yard work.
You should assume your overtime rate applies here.
What is the net gain to you to pay someone to do the clean-up for you?
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