In business, we often consider the time value of money — how a dollar today is worth more than a dollar tomorrow because of its potential to grow through things like compounding interest. In our personal lives, we think about this concept when buying a car or house when interest rates can add significant cost to the purchase. The same can be said about credit card interest rates. So while we do often consider the time value of money, have you ever considered the money value of time? Your time, specifically.
By that, I mean thinking critically about what your time is worth. Not just in theory, but in real life. To take this one step further, we can look at the job we have and figure out what our hourly value to our employer is. However, the math isn’t so easy in our personal lives. We don’t typically think about how much per hour I am worth to my home to my family to my friends, even to my pets. What are the risks and rewards of how we spend our time? When does it make sense to outsource something? When does it make sense to do it yourself? And how do those answers change depending on your season of life? Often, my answers change day to day depending on my schedule.
Managing it All
As a working mom, I’ve had to learn this the hard way. There are only so many hours in a day, and on a typical day, many of them are spoken for: work, meetings, emails, meal prep, laundry, housework, maybe a workout, and being present with my family. There have been times when I felt guilty for outsourcing something simple like using grocery delivery or having our dinner delivered from a local delivery service. But the reality is, those hours I got back? They bought me breathing room. They bought me clarity. Sometimes, they even bought me a better version of myself because I am not stressed driving to and fro. I can spend my time doing something I want to do or something I need to do.
This isn’t just about being a working mom. Anyone with caregiving responsibilities — whether it’s homeschooling, tending animals, driving kids to their activities, or taking care of aging parents — is constantly being pulled in multiple directions. And when your time is stretched thin, every minute becomes more valuable. Not just because it’s limited, but because your energy and attention are even more limited.
So how do you decide when to outsource something?
For me, I like to think about it through a quick mental checklist. First, do I enjoy this task? If the answer to this is no, I may be more likely to outsource. Second, am I good at it — or is it something someone else could do faster or better? This one is often variable. There are some weeks that my schedule is lighter or heavier than other weeks. Third, what could I be doing instead with that time? This is also a variable as there are times when I have one or two meetings past normal business hours or sometimes I have additional family responsibilities that I just can’t outsource. And finally, what’s the cost of my energy? Because some things might not take long, but they’re emotionally or mentally draining. This reminds me about every time I decide to list something on marketplace. I find it overwhelming and mentally taxing negotiating on price and location. To me, for most items, it’s easier to donate to a charitable organization and use the tax write off.
There’s also something to be said for timing. The decision to outsource (or not) isn’t permanent. It shifts depending on your current season of life. When I was earlier in my career, I DIY’d just about everything. It saved money and gave me a sense of control. Especially, when my daughter was involved in sports. You can read about that here. I would never think about grocery delivery or personal shoppers. Even when they first came to my area, I did not use them for a very long time. But as my working mom life got busier and responsibilities multiplied, I had to reevaluate. My time was no longer “cheap.” My bandwidth was maxed. And that shifted the math entirely. Don’t get me wrong, I still like to do a lot myself and prefer it when I can. However, I have learned to release unrealistic expectations.
Time doesn’t just have value — it has compounding value.
When I give myself time back, I often spend it in ways that bring more value into my life: reading, writing, connecting with my family, investing in me. Those activities pay dividends too, just not the kind you track in a bank account.
So yes, money matters. But so does time. And knowing when to protect your time, spend it wisely, or buy some of it back — that’s a skill worth building. Because in the end, both time and money are just tools. It’s about using both in ways that reflect what really matters to you. Being able to spend time in my garden brings me joy and peace. See my first tour here or check it out below: