It's interesting in life is how often our decisions come down to a fundamental question of time vs. money. Should we spend the time to do something ourselves or pay money to get it done for us.

These decisions range from eating in or out to repairing your car and everything in between.

So how do we decide when to do which?

Time vs. Money

Here's the thing, we all look at money with a sense of value. X amount of dollars get us X amount of services/goods in return. So when it comes to money, many of us want to save some of it by doing a few extra things ourselves.

This makes complete sense, get less services/goods spend less money.

Or does it?

The Value of Your Time

How come we do not think about how much our time is worth? Some of us do, but the majority of us don't quantify this. However, that's exactly what we need to do in order to make an apples to apples comparison of time vs. money in order to find the better option.

What is your time worth?

Really think about this. How much would you create in income doing whatever it is you do (blogging, web designer, coin mining, etc.) instead of doing a task you could pay someone else to do?

The kicker is that person will probably do it faster and better than you since they perform it regularly.

Real Life Example Today

One of my rental properties does not have hurricane shutters, which in FL is a necessity. It's been on my to do list for a while, but have hesitated because they are not cheap. I need 29 panels and they run roughly $40 a piece at home depot, it varies a bit on size.

Well, that is over $1k just for the hardware, ouch!

Then the best call of my week came in

My buddy found used hurricane shutters at the habitat for humanity restore in Ft. Lauderdale for $10 bucks a panel!

The thing is - gotta get some before they sell out and I need to haul it down there and back which is about a 2 hour roundtrip as opposed to running down the street to home depot at my leisure.

The Equation

Save $700 on the cost of shutters in exchange for getting up early this Saturday (which I don't do..lol) and losing 2+ hours of time that since I'm off from work, would have likely been spent writing a steemit post and curating/commenting leading to estimated earnings of $25-$30

Give up $30 to save $700

Kind of a no brainer!

Is that an extreme example, Yes!

However, I wanted to at least display the line of thinking. The decision is usually a lot tighter than that!

More so of the lines....should I keep writing this mining code that will improve my earnings or spend the next 2 hours cleaning the apartment that desperately needs to be cleaned?

Well, how much do you think you will earn form getting that code done 2 hours earlier?

How much does a cleaning lady cost?

Is the coding worth more than the cleaning???

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Regards,

Image Sources: pixabay