What's More Important to You?-?Time or?Money?

We’ve all heard it a million times — time is money. But the truth is, the two aren’t equal.

Money is tangible; it allows us to purchase and experience things. And if we run out, we can always get more. Time, however, is different. You only have 24 hours in a day, and if you need more, the next day isn’t always an option. Whether you’ve got a tight deadline on a work project or you’re trying to maximize the time you spend with your kids on the weekend, there’s always a need for more time — or, at least, to use that time more efficiently.

Money can help you to better spend your time. Of course, time can also help you to better spend your money. The question is, what matters more to you?

Identify Time Drains

We’re all busy. Everyone has a to-do list that’s a mile long, and while items are added to this list all the time, nothing ever seems to get removed from the list. There’s a lot to get done, and only so many hours to do it.

Some things naturally take longer than others. Some things are harder than others. And some things are just so obnoxious and frustrating that you dread doing them. It’s these items that you really want to focus on — the tasks that take forever, take too much energy and generally sap the life out of you. If you could cut these off your to-do list, how much better would you feel about life in general? Think about these tasks, and then visualize how your life looks without having to deal with any of them.

Remember that lost time does not return.

– Thomas à Kempis

Consider Your Options

You won’t be able to replace everything you hate. Unfortunately, nobody is going to bring your garbage to the curb for you or pick out your clothes for you. However, there’s a surprisingly high number of options available to you for the things that you absolutely dread doing.

It’s common for people to hire landscapers to mow their lawns every week. It saves time and stress, and it helps those individuals to rest assured that taking care of the lawn isn’t something they have to stress over. But the possibilities only begin there. You could hire a cleaning service to clean your house or buy a robotic vacuum to sweep your floors. You could even pay a service to take care of your grocery shopping.

In the modern gig-based economy, there’s a service for virtually everything. Take a look at your pain points, and with a little research, you’ll be able to find a solution for almost all of them.

Determine Your Time’s Worth

The only problem with the wealth of options available to you is that unless you’re rich, you won’t be able to take advantage of everything at your disposal. Why? Because at some point, the cost becomes prohibitive. There has to be a balance between time and money. Your job is to figure out where that balance lies for your own unique situation.

A landscaper typically charges $25 a week to mow lawns. Is that $25 per week — or $100 a month — worth your investment to not have to worry about your lawn anymore? Is it worth paying that money not to have to get up early on a weekend morning, get sweated up and deal with the lingering aroma of grass all day? Maybe yes, maybe no. But it’s time to start thinking about how much your time is worth to you.

A cleaning service might cost $50 a week, but if it means that you can be active and engaged with your child every second you’re home, it could be worth it. You might pay $15 more a week to get your groceries delivered, but that’s an hour you’re not spending at the grocery store getting agitated and missing out on quality time with your family. Is that worth $15 a week?

Figuring out how much your time is worth isn’t a simple formula that you can easily plug numbers into. It’s a fluid number that changes from situation to situation. Maybe you love mowing your lawn, but absolutely hate cleaning your house. In that scenario, a cleaning service can cost more than a landscaper for the same amount of time but present much better value for you. It’s all relative. That’s why it’s so important to ask yourself the right questions. Is this service worth the money? Will it make my life more efficient? Will it increase my happiness? If I use this service, is the tradeoff of money for time worthwhile?

We can make up for lost money but we can’t make up for lost time.

- Simon Sinek

Spend Your Time Wisely

There’s one more question you need to ask when you invest in a service that helps you to save time. That question, of course, is what you’ll do with your new-found free time.

Smartphones have done a lot for our lives, but one major negative about these devices is their ability to suck up time like nothing we’ve ever seen before. So if you hire a lawnmower to come each week and if you spend that hour a week scrolling through your Instagram feed, you’re not really spending that time wisely. And yes, we all need some mindless downtime, but spending $25 a week just to play with your phone is hardly a good investment.

Think about what you’re going to do with your time before you decide to spend money to free up that time. That hour you just bought can go a long way if you approach it correctly. Take a class at your local community college. Start a yoga practice. Work on that novel you’re always putting off. Take your kids to the park and play with them. Whatever you choose is a great choice — as long as you make a conscious effort to get the most out of your free time, and as long as you determine that your new excursion holds more value than the money you’re paying to earn this bit of time.

We’re always trying to find ways to use our time more efficiently. Your wallet might not be the first place you look when trying to save time, but it just might be the most important source of free time available to you. Think about what you don’t like doing, then find a way to outsource those tasks to someone else for a reasonable price. You’ll find yourself not only happier but more productive and more positive. And those are traits that are definitely worth investing in.