The Opportunity Cost of Time
Dave Ramsey talks about the opportunity cost of money – if you spend money on A, you can’t spend it on B. We all know this, but we may not process it when we spend. Learning to think through this before spending is a good way to make wiser use of money.
What about the opportunity cost of your time? If you spend your time on A, you can’t spend the same time on B. If you spend time playing a video game, you can’t spend that time with your wife. The time you spend in the garden can’t be spent walking with your wife. Time spent at the third church meeting of the week is time you can’t spend making love.
The thing about time is we can’t get more. Rich or poor, young or old, we all get the same amount of time each day. Wasted time is gone forever. Time well spent is also gone, but we can reap the returns of our investment for up to a lifetime.
How we use our time says a great deal about our priorities. How you spend your time also communicates to your wife how important she is to you.
Do you need to rethink how you budget your time?
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