Time is Money

by Debbie Vasen | More from this Blogger

17 Jun 2007 10:52 AM

With almost every discussion of spending money, the concept of time arises. In most cases this is absolutely true: time is money. It is the heart of saving and spending, each time you make a purchase you are evaluating this scenario. Additionally, as you drive to work each day, this concept arises again; your time is worth money.

While this theory is simple, it is important to stop and talk about it once in awhile. Let your mind wander... where do I spend my money and where do I spend my time? Do the answers appease you or worry you? Life is short and money is a necessity. This dilemma often causes struggles for families.

As I write about money, the issue of time is almost always part of the discussion. Whether it is evaluating how to sell your house, negotiate good rewards with your credit cards, or go from two incomes to one, the question of money vs. time is there. Generally, almost all financial decisions involve time. It really does take time to save money. Cutting coupons, shopping the sales, and visiting warehouse style stores, can save you money on groceries, but also take tons of time.

Even if you want to save money so you can work less and spend more time with your family, that process of saving money takes time. For many money related conflicts, you have to ask yourself: do I really have the time to go this route? The more effort you take in researching your buying decisions, the more likely you are to find a good deal. Of course, that time spent does count as money. So, did you come out ahead?

Basically, we all have to consider what do we have more of... time or money? Also, it is important to ask ourselves, does the time it takes to save money really worth it. Are you actually getting the most value for your time? Try this and see what you learn. If you are taking an hour to cut coupons, plus another hour to cost compare the coupon to the generic price at the store, you have spent two hours of time. If the savings you generate was only $10, was it worth those two hours? These types of thoughts only you can answer, but they are good questions to ask.

Related Articles:

*Paying Bills on Time can Save you Money

*Picking up Extra Cash without Giving up Family Time

*The Household Notebook - Getting Started

Learn more about Debbie Vasen

Debbie Vasen is a published web content editor and writer, as well as a freelance writer for various print publications. In addition to blogging at Families.

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