Convenience VS Price
By Matt - Tuesday, May 20th, 2008
The eternal question: Save money or time? The price of convenience can be costly but it can also be a very reasonable trade off. If you’re trying to save as much money as possible you will definitely inconvenience yourself a little for the sake of your goal. But on the other hand if you’re trying to maximize your time spending a few extra dollars simply makes sense.
The dilemma is a trade off between getting what you want in a more convenient fashion even if you spend a little more for it rather than trying to save a couple bucks and going out of your way. Most of the time this dilemma is on the smaller scale; for example I shop at a more expensive grocery store because its across the street and it saves me lots of time and effort. Would I save more money by going to the cheaper store? Of course I would but not enough for me to spend the extra 20 or so minutes to reap a $5 savings. If I was going to save $50 then it would be a big difference and if I was saving $500 there would be no question, I would inconvenience myself. The trade off is personal and it depends on what our needs are at any given moment.
When it comes down to convenience versus price the choice is personal an unique. Each and every one of us has a unique situation and needs. For some of us the time is more valuable where for others that extra dollar or two means more. I think most of us would trade a bit of money for the convenience of having things done faster and easier.
If the economy were to get worse and a deep recession set in I believe that more and more people would start opting for saving money versus the convenience factor. I would be interested to see just how this would play out (even at a personal level for myself). We all have our limits and a poor economy would (and has) change that for many people.
This entry is filed under Commentary.
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