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Time or Money?

After reading a post and having dealt with a vaguely similar situation with my ILs, I was wondering which you would pick.  Example

LaDelle charges $50 for a haircut and is five minutes from your house.

Efra charges $30 for a haircut but is over thirty minutes away and gas is almost $4 a gallon.  

Which do you choose?  

I choose time that's for sure.  My FIL bought a new dishwasher for MIL after he destroyed their other one when he took it apart.  He had it delivered but decided to save the $75 for installation and do it himself.  Two weeks later and eight trips to Lowe's, he decided to wait until Bill and Michael were home so that they would install it.  

Re: Time or Money?

  • I choose whoever has the best reputation and does the best job.

     

    But all of that aside, I choose the closer, more expensive one. For sure.

  • It's all about opportunity cost.

    Without my geeky Economics background coming out, I would say everyone is going to have a different answer because everyone's preferences will be different.

    For me, it depends on the situation. I drive about 15 miles to get my hair done by a family friend who charges me $20 no matter what I do. Instead of paying God knows what at a regular salon. So, yes the drive is worth it. I give up some extra time to save some money. To others, their time might be worth more than saving $40-50 bucks. Mine isn't.

    ETA: I've also driven to her no matter where I lived in the metroplex. Sometimes it was 45 minutes away.

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  • I <3 Summer and geeky economics too!

    I drive 1.5 hours to my stylist in my home town.   I get hair wash/style for $20 and color for $60. That's less than half the price of DFW salons.... plus she has done my hair since I was literally a baby and has never once messed it up.

    I would drive to her even if she doubled her prices, just for piece of mind. :)

  • imagejuliebug1997:

    I choose time that's for sure.  My FIL bought a new dishwasher for MIL after he destroyed their other one when he took it apart.  He had it delivered but decided to save the $75 for installation and do it himself.  Two weeks later and eight trips to Lowe's, he decided to wait until Bill and Michael were home so that they would install it.  

    Goodness. 

    Well it depends on how much I like the stylist but more than likely I would choose time unless the only Five Guys was near Efra.  Yes food would be the determining factor.  

  • Most of the time I will choose time because I hate driving and I hate almost anything DIY.  However I have two Wholefoods and a number of grocery stores within minutes of me but I drive to Market Street in Coppell and Whole Foods off of Preston and Royal because they are just better.
  • I only used the hair thing as an example.  The lady who's done my hair since I was in college charges me about $80.  I tip her it's $100.  However, it's an hour drive, it will cost me a quarter of tank of gas ($12ish) and she books up quickly. 

    I really did mean only in general terms, though.  

    Shortgirl,

    I used old timey relative names.  LaDelle was a great great aunt and Efra was my great grandmother.  

  • imagejuliebug1997:

    I only used the hair thing as an example.  The lady who's done my hair since I was in college charges me about $80.  I tip her it's $100.  However, it's an hour drive, it will cost me a quarter of tank of gas ($12ish) and she books up quickly. 

    I really did mean only in general terms, though.  

      

    The only reason I used my hair stylist as an example, is because that's the only example I could think of off the top of my head.

    Ok, here's another one. We go to a guy in Denton anytime our cars need tires, because DH has been going to him since HS and he knows the guy and the guy knows DH's whole family. He gives us great service, we can trust him, and he cuts us a deal. So, we drive about 40 minutes, rather than going to some place in Las Colinas.  

    But, in general, we are frugal people. We are going to do what we can to save money. That's just how we are.  

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  • imagejuliebug1997:
     

    Shortgirl,

    I used old timey relative names.  LaDelle was a great great aunt and Efra was my great grandmother.  

    Oh, I didn't have a clue where you got them from and for all I knew they were actual places in Dallas- everyone talks about places in Dallas and it's usually lost on me so I figured that was the case.

    But I was saying goodness to the eight trips to Lowe's not the names if that is what you thought.  

  • OH!  In non-hairstylist terms! :)

    If the two products/services are perceived to be equal in value, but the cost is significantly different then more often than not I would value my time.  

    However, if I have a completely free afternoon or something, I would probably make the drive for the bargain.

  • imageTiffany618:
    If the two products/services are perceived to be equal in value, but the cost is significantly different then more often than not I would value my time.  

    However, if I have a completely free afternoon or something, I would probably make the drive for the bargain.

    I believe I will have to agree with you, Tiffany. 

  • For me, it would depend on what I conceived to be the best deal, taking into account quality of service, cost and distance. Would I drive an hour, round-trip, to save $20? Maybe, if they were better.
  • I think it just depends on the situation for me.  I drive to my hair stylist because I trust her.  I would rather pay someone to do something right the first time then try to do it - with no experience - myself.  That being said DH and I spent the weekend painting our dining room table and chairs.  What I thought would take 2 hours, actually took 2 days.  But, we painted them ourselves and we are proud of it.  :)
  • I like how Tiffany and Anna put it.  It really depends on the situation, but predominately, I value my time. I would rather have a maid and shell out $50 every other week then spend a few hours cleaning every other week.  Same with yard service.  Oh, and dry cleaning, I will take shirts to have them laundered so I don't have to press them.  I can afford it, so my time is more valuable.  Now if something happens to my job, I'm going to start doing all of that on my own because money will be more valuable.

    Unfortunately, DH sees things the other way.  I tell him, he can cancel whatever service he likes (maid, yard, etc) and do it himself, but don't expect me to pick up the slack.  :) 

    Our last sunset in Hawaii... Honeymoon 2010
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  • See, since I hate, hate, hate dealing with automotive things, I would definitely drive to a place I thought was trustworthy.  And I definitely agree:  during the school year, I will only go to places that are on my way since I don't have so much time.  During the summer, barring extremely high gas prices, I will drive somewhere--mainly so that I'm not spending all day in front of the TV. 
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