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The money value of time

I'm sure you're aware of the time value of money, but are you conscious of the money value of time? Middle class Americans have a strong DIY attitude, but is that always wise? When I think about my 120 waking hours each week, I spend precious few of them doing work I excel at and am passionate about, or enjoying life with family and friends.

The rest of the time is wasted on chores, errands, and distractions. I've often thought about outsourcing the chores and errands to someone local, trustworthy, and willing to work for low wages. After all, if I can spend those otherwise wasted hours doing something productive, it should more than cover the cost of the hired help! Plus, I'd be doing what I love, not what I despise.

How religiously should you live by "Do what you do best; let others do the rest?"

Dealing with distractions is a constant struggle. Part of me insists on ceaseless learning, so I oversubscribe to podcasts and RSS feeds, pile books and magazines onto my reading list, and follow hundreds of people on Facebook, LinkedIn, and Twitter. The other part of me screams, "Disconnect, disconnect! Wipe the slate clean!" Guess which part of me dominates the other? What real, measurable value am I producing during these hours?

What about you? How much attention do you pay to the money value of your time? The hourglass only flows one direction!

Comments

Mike said…
Very true. I have that same internal battle between wanting to stay informed and wanting to unplug and live more simply. Good post...

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