Time Is Money

I’m convinced more than ever that time truly is money.

You can save money by spending the time to do yourself. If you’d rather save time, you can spend the money to have someone to do it for you.

You can grow your own food (time) or you can buy it at the grocery store (money). You can do your own shopping (more time and less money) or you can hire a grocery delivery service (less time, more money). You can clean your own house (time) or you can pay someone to do it (money). You can choose to not exercise (time) but you will eventually pay for it at the doctor’s office (money). You can wait to fix the leaky roof (extra time) but will eventually have a larger repair (more money). You can try to fix your own car (time) but might realize you don’t know what you’re doing, in which case you’ll have to hire a professional to do it right (time AND money).

Sometimes you can do something yourself in the same time as an expert. Other times, however, you may realize that it’s a better use of everyone’s time and money to hire the job out to someone else, so that you can use your time to make more money doing what YOU do best. You may save the cost of a $100 plumber visit by installing the sink yourself, but if the job takes you an entire day, are you really coming out ahead?

There’s a reason it’s called “buying time.” Money is valuable but so is your time. You’ll have to pay with one or the other, now or later.

(See also: Choosing Our Pain.) 

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