Time or Money…..What Would You Choose?
Happy Monday, Clever Friends. I thought we’d start out the week by playing a game. It’s a game similar to one of those you might see at a carnival. I’m going to ask you a question, and then I’ll attempt to figure out the answer. Ready? Ok, here goes:
If you could have either more time or more money, which one would you choose?
If your annual income is less than $75,000 I would guess your choice would be money. If it’s greater than $75K, I’d bet your answer is time. Going further, if your answer was time I would guess you’re pretty happy with your life. If you chose money chances are you believe life could be better.
These are obviously generalizations and there will be exceptions, but my guesses are actually based on two separate surveys that have recently been done. One study shows that a person’s income and overall satisfaction with life grows proportionally up until the $75K mark. A separate study shows that people who wish they had more time are happier in general with life. It also shows that those people who chose time are older and have higher incomes.
Putting these two together one might conclude that a growing income results in greater satisfaction with life up until a certain point. At that particular point, something else takes the place of money as the stimulus for greater satisfaction. It appears that thing is time. Time to pursue dreams, and goals. Time to cultivate relationships and spend more time with family.
When a person has enough money to take care of his or her basic needs, they require something else to increase happiness.
I can identify with this because my household income is above $75,000, and I would absolutely choose more time if I was given a choice. My basic needs are taken care of. I have no issues meeting my monthly financial obligations. The cupboards and closets are full. If I needed more money, no raise is needed. I would just need to re-prioritize my spending, and be smarter with my money.
But if I had more time…..I could do so much if I had more time.
Yup, that’s right. I would work MORE. I love my job. It stimulates my mind, and because of that I enjoy going to work each and every day.
Become a Personal Trainer
I love working out, and I’m becoming more and more interested in making my body run as the most efficient machine it can. I’d also love to help others do the same.
When I was younger, I played the piano. In high school I played the saxophone. I don’t have time for either anymore. I’d love to play both again, as well as learn how to play the guitar.
Spend Time With Loved Ones
I’d love to spend quality time with my close family and friends. Talking, sharing experiences and making memories in every and any way possible.
There’s no doubt that money can make life easier. It takes away the worry of having to provide basic needs for yourself and family. But does it bring meaning to your life? Does it bring true satisfaction to your soul? For that, all you may need is a little extra time.
How about you Clever Friends? What would you choose if you were given a choice between more money and more time? Why?
Brought to you courtesy of Brock
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Brock is a software engineer by day and personal finance blogger at night. He is a fitness junkie and enjoys grilling and smoking meat. Married with two children, Brock strives to improve his skills as a husband and father, and is always on the lookout to stretch his family’s budget as far as he can.