Consider What Your Time is Worth

What is your time worth? What would come up with, if you break it down into a monetary value? Everything we do costs us time and energy. There are things that we value so personally that it would be worth anything to be able to do. Your career may not even pay you what you determine is your worth, though I speaking now about how we use our personal time. Time is limited, we all have the same amount, and how we choose to spend it needs to reflect and enhance what we value.

There are restrictions since most of us have limited money to delegate all the unwanted tasks to someone else. Nevertheless, considering both money and time as having limitations, we can make choices about how we spend both of these. If there is something that you just love to do, that you get a sense of pleasure and accomplishment from doing, it is likely this is something that will never be worth paying someone else to do. The things that we value most will help determine where you might spend your money.

If you enjoy cleaning the house, you get a great sense of pleasure and accomplishment from handling that, you would not consider hiring someone to come in and do that for you. On the other hand, I had a client that struggled to clean and after some things changed financially, she was able to hire someone to come in twice a month. She raved about what a difference it made to her and what a luxury. It had the added benefit of helping her keep on top of her clutter since she picked up regularly so the cleaning lady could do her job.

Sometimes we need to pay for services –due to our own limitations. I had a client who had Peapod deliveries for heavy and bulky items that she could just not handle, while she still did other grocery shopping. This was a benefit for her since it was too taxing otherwise. She recognized that her health was more valuable than her money – what was her money there for besides helping her live a fuller life?

As we consider the idea of what your time and energy are worth, we need to think about your skills. If you already know how to do something, you know how long it is likely to take. You will also know whether you dread doing it or you look forward to it – or most likely something in-between these two extremes. At some point, it is worth asking yourself whether it would be more valuable to you if you could just pay someone to do it.

Changing the oil in your car is a prime example for many people. It is not difficult, yet the minor cost and speed of many shops that change oil means that more people take the car in rather than spend the time and energy to do it themselves. This is a good example of deciding what your time and energy are worth.

On the other hand, you may not already have the knowledge about how to do something. Unless it is something that requires extensive skills, you can consider learning how to do it yourself. This promotes brain health and self-esteem. It also takes additional time and energy since you need to research what it will take. Sometimes you won’t do it correctly the first time and will need to re-do it – more time and energy. That is not to say that it is not worth the effort, just that this needs to be considered as you contemplate how to spend your resources.

Paying someone means that the project will likely be done in a fraction of the time though will likely be more expensive. This is why thinking about the value of our time is important. Is there something else that you’d rather spend your time working on?

Consider what your efforts cost you – the time and effort something takes you and then factor in what the personal value to YOU would be if you paid someone else to do that same thing. When we think about how much our time is worth, it can alter the way we think about things. Money is meant to spent, we cannot take it with us in the end, so if we use it in ways to maximize our time, pursuing our goals and priorities, we are using it for it’s best purposes.

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