Do you value your time? Do you do things now that will pay off in the future? Many of us tend to focus on earning money and not so much on time. But this is a recipe for disaster. In fact, you need to take time into account when you are deciding on earning money. After all, the saying ‘time is money’ is very true. Below, learn how to use time to your advantage so you get the most out of life.
Valuing Your Time
In order to make the best decisions, we have to learn to value our time. The trick to doing this though is to figure out what value you place on your time. For example, let’s say it takes you an hour to mow your lawn. What amount would you be willing to pay someone to mow your lawn for you so that you had that extra hour every week?
For each person reading this, the answer will be different. Some might say $20 is worth their time. Others might say $5. Whatever your answer is, use it to figure out other times when it makes sense to outsource work around your house.
Maybe it takes you two hours to clean your house. Is it worth it to you to pay someone $50 so you have those 2 hours free?
Of course a key part of valuing your time is what you will do with those “extra” hours you now have. For some, working on a side business is how you will spend the time. For others, it might be spending more time with your family. Again, it doesn’t matter what your answer is, as long as you value it properly.
Taking Time To Gain More Time
On the flip side of this is taking the time now so that you have more time in the future. For example, let’s say you travel a lot. As a result, a lot of your time is spent standing in the security check line at the airport. What if you took an hour of your time now to obtain the TSA Pre-Check so that you can bypass the line?
In this case, you are spending time now so that you have more time later. If you can save 20 minutes bypassing the security line, you will have paid back the time spent getting the clearance in just 3 flights. Think about how much better travel will be when you can avoid that long line.
Putting It All Together
Once you look at what your time is worth and how you can spend time now to save time later, you can start making strides to value your time effectively and do more of the things that matter to you. Too many people look at a transaction based solely on money, but in many cases, there is the element of time involved. By including time in the equation, you get a better understanding of value. After all, when just looking at a situation through the eyes of money, you can end up costing yourself a lot in terms of time. Why save $100 to replace your brakes on your car when it will take you all weekend to do? Saving $100 sounds like a smart move, but when you realize that a whole weekend will be shot in the process, the idea of paying the $100 for someone else to replace the brakes sounds a lot better.
Learn to add time into the equation and you may be surprised at what you choose to do and what you choose to pay for. As long as you are valuing your time correctly, you are making a wise decision.