Time is money: How to value your time

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Time is money: How to value your time

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Dracomies

Күн бұрын

This is just a random schmandom video where I talk about the importance of time.

Пікірлер: 15

@iCantEditBro Ай бұрын

Your channel is so interesting, shame the algorithm has no idea how to push it

@ptstouring49 Ай бұрын

This gets really fascinating when your time gets more valuable. Let’s say you value your time at $2000 an hour. If you apply that you do things like throwing out your socks rather than washing them. I have never returned an item, even if they sent me the wrong item, it’s just not worth my time. If I don’t enjoy it, and it’s not paying me my hourly value of my time, I simply don’t do it. I don’t negotiate with people, I ask the price, if I like it I buy it, if not, I don’t engage further. This is culturally a problem for a lot of people but not for me (or Warren Buffet who I will note his hourly time value is a multiple of the hypothetical above). The transaction costs are just not worth it once you get to a certain point. This is why you see rich people doing things like throwing out valuable items. It’s not worth the time. You can make more money, your time is finite.

@Dracomies Ай бұрын

There's a video you might find interesting that talks about this but basically this guy has the same approach. In this case I don't make nearly as much money as this guy - but I get what he's saying. But this is why I'm ok with ordering via apps, ie Doordash, because the time saved is worth the cost: kzfaq.infoj4QL9xxUAHc It's not uncommon for me where I'll wait in a store but if the lines are full, I just flat-out walk out the store. I don't wait in line because it's not worth it; I don't bother with Black Friday deals because it isn't worth wasting the time.

@briankelly1240 Ай бұрын

I don't sell things, I just give them away

@allaboutroofing2 Ай бұрын

I've gone to garage sales since I was a kid and now as an adult, still enjoy it even tho I rarely buy anything. I've noticed people will take all the time to set up and price their items and then attend the sale for 12 hours over two days when all their items combined are under say $100 bucks. I don't get it. Why not just donate it and move on with life. Also anyone can come see everything you own in your garage. All for $100 bucks if you sell everything? That's well below minimum wage.

@Dracomies Ай бұрын

I've seen this too!! Basically their rationale is to sell a ton of cheaper items -- but then when you actually add up how much they got (which is still money) but you look at all the haggling, setup, hassle, cleanup, and you measure it by hours, they didn't make anything worthwhile. Time is money!

@Seanonyoutube Ай бұрын

Perhaps they just enjoy making new friends that way lol, the social aspect of garage sales cant be overlooked in the equation!

@allaboutroofing2 Ай бұрын

@@Seanonyoutube you might be right. I went to a sale last year where everything was free. They had a massive setup and gave away a lot of belongings. I found a few items and they refused any payment even when I insisted. Weird to me. I can meet people without all the time and effort.

@Seanonyoutube Ай бұрын

@@allaboutroofing2 I find it surprisingly hard to donate certain items, especially if it’s important to you that the person u donate to will actually use it and not just accumulate more crap because it was free. Perhaps that’s a consideration for them too, and hey, maybe they just enjoy the process and don’t care about more money.

@allaboutroofing2 Ай бұрын

@@Seanonyoutube me too. I get a bit of an attachment to my belongings admittedly. I think that might be why people have their own sales so they can see where their items go. Also it's not as easy to donate as it used to be. The thirft shops near me are quite selective and you have to pay for a pick up now and it's like $65 bucks. Also people are less resourceful, I have a $3000 safe listed for $0 because it weights around 800 lbs. Ive had three people.show up and can't move it. When I suggest them hire a safe mover, they are out. It's a security rated safe, well worth paying to move it as you'd do the same on a new one plus the 3K price tag. People are weird these days.

@Seanonyoutube Ай бұрын

In my country the return phase is 24 hours.

@Dracomies Ай бұрын

Does this mean you can return things in 1 day. Or what does return phase mean?

@Seanonyoutube Ай бұрын

@@Dracomies yea basically next day and ONLY UNOPENED. So this whole video is irrelevant for my country lol

@Dracomies Ай бұрын

@@Seanonyoutube Oh no!! Yeah, here we can at least open things and test them out and we have about 30 days usually to test it.

@Seanonyoutube Ай бұрын

@@Dracomies yeah I used to live in the USA, that level of flexibility is CRAZY compared to many other countries, y’all have it so easy! But I learn to do my thorough research now before buying anything and also I just buy a lot less stuff these days. America is super focused on consumerism, which can be fun but also distracts from more important endeavors.