I've recently started thinking that I should spend more money in order to save time. Examples of this include:
- paying to get my laundry done instead of doing it myself
- sometimes taking a taxi instead of taking the subway home
However, I still do find that I constantly spend a lot of time doing things that would take much less time (but at a higher monetary cost). Examples of this include:
- shopping around for 10-15 minutes to find a price a couple dollars lower for something I could immediately buy on amazon.com
- spending hours (probably 10+) cataloging and looking up the value of my old cd collection in order to sell it for a couple hundred dollars when I could have just thrown it out or given it away
It's very contradictory to me (and hard to understand) that I'll often spend a lot of time on something (like the amazon example above) to save a small amount of money, yet I have no problem going out for an expensive dinner or a nice vacation. I'm also at a point in my life where I feel like I don't have nearly enough time (and when I do have free time I'm often exhausted), but I have no financial commitments in the near future so money is relatively plentiful.
- Are there any tips for computing what my time is worth? It would be easy if I was paid by the hour (and could work as many hours as I like), but I'm not. I'd like something better than "gut feel" for knowing when I should spend money to save time (or not).
- Are the ways I can convince myself to spend more money to save time? I know at times I'm definitely working for under minimum wage by spending so much time to save a little money.
- Other than laundry and transportation, are there other common ways to gain more time by spending money?