The Economics of Time

Let’s be frank. It isn’t on my side right now. I find myself caught in-between trying to keep up with the day-to-day, while struggling to find new and exciting goals to be excited about this year. It is an odd place for me to be right now, but I’m starting to think this may become my new normal.

I was listening to a Planet Money podcast last week, in which the economics of love was the focus. It is a pretty entertaining, and frankly informative episode. In it, the conversation around love being in abundance came up and yet many of us (myself included) choose to limit our love to one partner.

The economist cited a Nobel Prize winning economist’s theory about the finite complexities of time and how it is a valuable resource for all. Later on in the discussion, the notion of being with something that’s good enough removes the time for you to experience or pursue something that could be really amazing.

This really hit home. At the time, I was border line burned out due to a number of events colliding at the same time. Each day, I’d wake up and go through my to do list and find a way to cram it all in, but I was missing the luxury of just enjoying life. I realized that while project management is great, equally as great is just saying no.

This past week I stepped down from a committee I wasn’t passionate about and passed on a great freelance gig because frankly, money isn’t and cannot be everything. I scaled back from a half-marathon to a 10K. I got excited about a bathroom remodel project, only to step back and put it on-hold. At first, I was pretty bummed out. Frankly, I felt like a borderline failure. But, then I realized that by saying no to these things, I was making room for things like planting a garden with Jake and reading a novel on my deck and even continuing the Tuesday night fitness classes. That while I may not be running a half-marathon this spring, that doesn’t mean I can’t do the Shamrock Shuffle followed by a 1k with Jake—both of which sound a lot more fun. Sure, I want a new bathroom. But, I also want my sanity.

I have an abundance of hobbies. An endless checklist of items I want to do in the here and now because frankly, we don’t know when our time is up. But, in my haste to make the most of each day, my time to do more of what I love is getting squished out.

I never thought economics would remind me of that. Nor, did I think a Planet Money Podcast would make me pause and re-evaluate the time-space continuum. But, I’m really glad it did.

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