What Value Do You Place On Your Personal Time? (AKA Opportunity Cost)

[arakboss]

There was a discussion on the radio this morning about Opportunity Cost and how people value their time. It would be fairly easy to value your time if it was compared to making money. What about your personal time, how would or do you place a value on your free time?

The example given was a guy who decided to pay $3 more to fill his tank at a gas station across the street from a Costco fuel station where he would have had to wait 15min in long lines to save that $3 on his fill up.

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[L84Cabo]

Hard to have a, "one answer fits all situations." However, one thing I've noticed as I've gotten older is that I seem to value peace above all else whether it's in regards to work, personal relationships, etc. Whatever time I have left on this earth, I want it to be peaceful and I find myself saying "no" a whole lot more to things if I think there's going to be drama, B.S., stupid people present, stress, etc.

I can totally see a guy willing to pay more for gas than to spend 15 minutes in the CostCo line. CostCo is an absolute magnet for idiots.

 

[arakboss]

They also mentioned that successful people do stuff they like to do instead of stuff they don't.

In my case I like hanging out on this forum and thinking about new project ideas more than I like going shooting. I would not consider myself successful but I can say I have a lot more reloading supplies now than I would if I went out shooting every weekend

 

[Alexx1401]

I have LONG been REAL big on this. When online shopping really took off I was super big on it. Reason was not to save a buck. It was because I had never liked driving store to store to find what I needed. Gas has always been this way. I will not go out of my way or sit in line to save a few bucks on a fill up. When gauge is close to 1/4 I am looking for one of the places I get points for that in on my way to or from work and stop. I used to work with a guy who during a couple ammo shortages loved to drive from Wally to Wally grabbing up ammo. He would now and then head to the show to sell it. He seemed to enjoy it so great for him. I would buy it when I found it shipped to my door. Never cared if it cost me a little more. I did not want to drive all over hell and gone to try to find it cheaper.

 

[SHOOTZMEDLER]

Agreed on all above as I have gotten older. I will absolutely pay more to avoid waiting I guess I've always had that mentality come to think of it, I prefer peace and slower pace over rushed and stressful... I used to live for the rush and the get bubblegum done as fast as possible, the older I get the less I want to kill myself rushing when I can take my time.

I catch myself wanting to leave work and hang at home way more often than going out and being in crowds and such. Especially after a stressful day at work. Whiskey is cheaper too.

 

[wired]

I do not place a monetary value on my free time. If I have to wait a few minutes to save a few bucks I can use for something else you bet I'll do it. If I have to do something myself vs pay someone else to do it for me 10/10 I'll do it myself if I have the skills and equipment and even then its a question of how much will the equipment cost me and can I learn the skill before I pick up the phone. This is why I have about 100K worth of tools in my garage .

$3 is $3

 

[CLT65]

I think about this every time I'm casting bullets. I've been casting for over 30 years, but lately I've been getting tired of it. As I get older, I realize more every day how little time we actually have. As my wife likes to say, the days are long but the years are short. Life really is short, too short to be wasting time on pointless pursuits.

My kids are growing up, so my priority at this time is to spend time with them.

 

[wired]

I think about this every time I'm casting bullets. I've been casting for over 30 years, but lately I've been getting tired of it. As I get older, I realize more every day how little time we actually have. As my wife likes to say, the days are long but the years are short. Life really is short, too short to be wasting time on pointless pursuits.

My kids are growing up, so my priority at this time is to spend time with them.

Some of the best times I had with my dad were spent rebuilding engines, casting bullets, smelting silver etc. He didnt give a rats but about playing with balls or walking on beaches.
The hours and hours we spent going through surplus bolt stores looking for bags of grade 9 bolts. Those were the best times.

 

[BBQ Guy]

Pick your battles in life.
I've never understood the folks who will sit in long lines, letting their motors idle, waiting for gas/food/coffee. Park it, get your lazy fatt butt out and go get your food/coffee. Go across the street and get your tank filled immediately for a few bucks more. Some of these same folks are the ones that are bat crap crazy about green energy nonsense.

 

[Alexx1401]

Pick your battles in life.
I've never understood the folks who will sit in long lines, letting their motors idle, waiting for gas/food/coffee. Park it, get your lazy fatt butt out and go get your food/coffee. Go across the street and get your tank filled immediately for a few bucks more. Some of these same folks are the ones that are bat crap crazy about green energy nonsense.

LOL, my Wife is FAMOUS for sitting in a drive through line for a LONG time, getting over the top angry, then doing it again.
I rarely eat any fast food but if I do? I will NOT get in that drive through lane. Once in you're stuck. If I am going to pop in one I park, walk in, and order. Wife always get heated when I do. Swearing that the drive through is faster. Sure it is. Same when we go to a store. I find a place to park AWAY from the front door where I can pull through when done. If she is driving she will go into a holding pattern, circling looking for a spot in front. Great because when you come out there is a crowd in the way, and a car or two blocking traffic to get your spot you can't get out of.