In the tradeoff between saving money or time, most of us choose money. Here’s why that’s a flawed perspective, according to an assistant professor at Harvard Business School.
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You can assign a value to some of your time. Thomas Barwick/Getty Images
- Ashley Whillans is an assistant professor at Harvard Business School and a leading scholar in time and happiness. The following is an excerpt from her book, “Time Smart: How to Reclaim Your Time and Live a Happier Life.”
- In it, she shares how individuals of all ages, educations, and incomes typically choose money when it comes to the tradeoff between money and time.
- When we do this, Whillans explains we give up things that can benefit us in the long run, including happiness, time, and efficiency.
- She reminds us to savor daily experiences, outsource for things we don’t like to do, take vacations, socialize, and take care of ourselves to better value our time as a resource.
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The income equivalent of happiness gains, I like to