When do you Hire Yourself?

Have you ever thought about how much money you spend for conveniences?

I’ve been ruminating on the idea of paying a premium for someone else to do a task that I can do myself… Is it because I lack the skills, the time, or the initiative? When am I willing to hire someone else for a task, and when do I hire myself?

My brother-in-law has established a threshold of “how much is my time worth per hour” and then, if he can hire someone to do the task for less than his threshold, he does so. It’s an interesting way to think about it. Putting a value to my time and treating it like a commodity.

I’m in the situation where my “personal pay threshold” is lower than it used to be because I have more time and less money. I am willing to invest in cost savings (home cooked meals, coupons, the drug store games) because I see a good return on my time investment. When people say “I just don’t have time to cook at home” or “finding deals is a lot of work” they may be right, but do they do so consciously? Is it really because they don’t have the time, or because they have a higher personal threshold.

I am committed to cost saving measures because I don’t have the extra disposable income, therefore my willingness to invest time is greater. My personal “cost per hour” threshold is lower, so I am less likely to hire someone to do a job for me.

Obviously each person has a different threshold based on their circumstances, but it’s probably a good idea to think it through and establish a personal number.

When are you willing to hire yourself to get the job done?