#68.0 Spend time to save money – opportunity cost

Would you spend an hour of your time to get back $100?

Some would say yes, some would say no.

There isn’t one defined answer for a question like this.

It is entirely dependant on what your values are.

If you value that hour more than someone else so you can do another leveraged activity, then you wouldn’t waste a second on recouping that money.

But if you value the $100 more than your time spent on a monotonous task, then your answer would again be different.

It’s hard to tell if it’s worth it.

The worst case scenario would actually be to have spent that time, disregard the other leveraged activity, and then not to recoup the money.

What do you do then?

You don’t get the money back and you also can’t get the time back.

Fundamentally however, you can always get more money in the future, what you can’t get back is the time.

This moment will come and go.

Whereas a dollar can be spent and earned.

No matter how big your bank is and the number of commas splitting it up, it cannot purchase more seconds, minutes, hours and weeks.

They’re gone forever.

Next time you’ve bought something and are considering returning it to receive a refund, think again at how much effort and in particular, how much “time” you will lose by doing so.

Time and our attention are more valuable than you might immediately conceive.

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