Quote: (07-10-2013 03:24 AM)Seadog Wrote:
Quote: (07-09-2013 09:35 PM)snoop Wrote:
You are valuing your time at $5 an hour, which is a shit rate, even minimum wage at a fast food place pays better than that.
If you can make more than that per hour (like $10/hr) you are better off working an extra hour, buying the more expensive product, and have an extra hour of free time for the same money.
This has always been a pet peeve of mine, that yes there is opportunity cost associated with spending time to save a marginal amount of money, but most people don't get to pick and choose which and how many hours they get to work. Simply stated not all hours are created equal. If you have a normal job, the hours of 1-3pm are likely a lot more valuable than 6-8pm. Yes you are valuing your time at $5 an hour, but if you were otherwise just going to sit at home playing with yourself, that's $5 an hour better than any other opportunity you had for that time.
that's why I said "If you can make more than that per hour".
And if you can't, then you could work on getting a better/more flexible job, a second job or a side hustle.
And even if you cannot make immediate money with that time, you are losing the chance to use that time in a way that will generate future income. If you spend 5 hours a week running around to save $50, that is $2400 a year, decent money, but what could you learn in 240 hours that would make you more than that next year?
Not saying people should be reckless with their money, but that people should realize their time (especially free time) does have value, and for the most part we all get to determine what that value is.