Consider the Time Savings When Deciding on a Copay
You are probably familiar with how to exchange time for money. You spend your daily hours to get paid. However, spending money to buy back some of your time can be even more rewarding.
As the personal finance blog MoneyNing points out, your time is more limited than your money. You may one day be able to make more money, but you can never add more time to the day. However, you can buy back some of them. You can, for example, mow your lawn, but paying someone else to do it will get you back for a couple of hours on the weekend. These factors can and should be huge when deciding whether to pay for something:
I am also willing to pay for more time at work. I am currently using the airport shuttle instead of traveling on my own. It’s a three hour drive and it costs about $ 50 more than driving myself, but I can get the shuttle to work. Sometimes I just sleep. Taking the time to relax and let someone else drive after a long trip can be worth the cost – and it’s worth the safety as well.
MoneyNing also suggests making a plan for how to spend the time when you buy a portion of it back. If you are driving for an oil change, see if there are shops nearby where you can do business while you are away. If you can save a couple of hours on lawn care, schedule time to play with your kids.
How to exchange money for time | Money