Counting My Money In Public

Today was binge-cleaning day.

Similar to spring cleaning, but it’s the dead-middle of fall, and the weather was crap, so I couldn’t go outside…

As I was feverishly moving through my apartment, cleaning everything in sight, I stumbled across an old wine jug that had a whole slew of random change in it. My lucky day!

So I thought, “time to head to a coinstar, to get some moola”. In that moment though, I had a flashback of some random time in my life that my dad passed along the wisdom to “never use one of those coin-counting machines”. His logic was that I shouldn’t use the coin-counting machine because it charged a fee, and was essentially wasting money. Seems logical, right?

What ensued was a mental fight the likes of the battle in Braveheart. Should I use the machine, or should I wrap the coins myself so that I don’t get charged the fee? It was time-saving vs. money-saving in a head to head battle to the death…

But then, miraculously, I remembered a piece of wisdom that helped me make the final choice to use the coinstar after all. That wisdom, was the question…

“How valuable is your time?”

Let’s compare…

Option 1: Use the coinstar and pay 12% of whatever the final number is. So if I have $100, then I’ll be paying $12 as a service fee. Not too bad!

Option 2: Go out, buy the coin rolls, sit on the floor, separate the coins, roll them for 3 hours, and then go to the bank to exchange them for dolla’ bills. Well that sounds like a nightmare, doesn’t it?

Here’s a simple calculation:

If I chose to spend the 4 hours to go through the process of rolling all the coins (driving to the store time included), over the roughly $12 service fee (if I had $100 in change), then I would essentially be saying that my time is only valued at $3 per hour. Time is money, after all.

When you think about it in that light, I assume that any reasonable person would make the same decision that I made.

As a sales person, business person, or just a person that wants a balanced life, you have to assign a literal dollar-per-hour value to your time. So I repeat the question…

“How valuable is your time?”

Are you worth $25/hour, $50, $200? Whatever that number is, start analyzing ever time-consuming activity that you do, and see if it makes more sense to free up your time so you can do something more profitable! Your labor is NEVER free.

Until next time,

Jerrod H.

8:43pm

PS. Life is a series of choices. Make the choices that create the most wealth for you, whether that’s money, time, or something else.

But you know what won’t be a waste of your time? Subscribing to my email list. I aim to help you do exactly what I said above; create the most wealth possible! So jump on in by filling out the form below.

Leave a Reply

Your email address will not be published. Required fields are marked *