On The Economy of Time

There’s saving money by learning to do everything yourself. But then there’s the economy of your time, your interest in learning such things versus the things you really want to learn. Money doesn’t buy happiness, but it buys time, and time can yield the bandwidth to invest in yourself with the potential to earn many times over the money you spent to buy that time.

In a similar vein, businesses sometimes will lose a return client by providing bad or blatantly overpriced service. They win in the short term, but lose severely in the long term, not only from sending away a customer, but sending her away with motivation for bad mouthing among her peers. The ripple effect is real.