I was once enough of a frequent flier to qualify as a United Premier Executive. No surprise, I loved the movie Up In The Air. I could identify with George Clooney’s character as he navigated security, shopped in airports, and crashed in peaceful hotels. Today I was at O’Hare waiting out a flight delay, and I got a massage.
I like to get massages to head of repetitive stress problems, which had me sidelined several years ago. (I could not hold a pen; typing was manageable only with large doses of ibuprofen.) And lo and beyond, O’Hare is one of many airports with a little spa space offering chair massages, manicures, and pedicures. The massage was not as cheap as one at the little nail salon near my house, but that’s okay. During a flight delay, I have the time, and that allows for saving time at the airport.
Self-employed people learn very quickly what their hourly income is. It is almost always less than the hourly rate billed to clients because a lot of a freelancer’s work time is not billable: researching story ideas and potential sources; invoicing; and making trips to the post office.
People on salary should take the time to figure out their hourly rate, too, including commuting time and work done at home – and after taxes but including benefits like health insurance and vacation time. Once you know your hourly rate, you’ll have a better sense of whether you have a surplus of time or of money. You’ll know better whether it”s worth your while to do something or if you should pay someone else.
Hey, it’s all relative! Most people would like more of both, but most people find that they have at least a little bit more of one than the other. Right now, my family has slightly more money than time, so fitting in an expensive massage during a flight delay makes sense. When our kid goes to college, we will have slightly more time than money, so some of my habits (having groceries delivered, having the dry cleaner do minor mending) will have to end.
One reason that there are so many burgeoning personal services business (Uber, Instacart, Task Rabbit, Sitter City) is that there are so many people who are willing to take on relatively low paying, relatively unpredictable work. It will be interesting to see how long these businesses thrive once the economy picks up. Will the willingness of people to pay for services keep pace with increased worker demands?
Take the time to figure it out, and then make your plans accordingly. It will change, all the time, but knowing where you are at any given time will help you make better decisions. Spending time with family is almost always better than spending time at work, but family time can include errands, cooking, and crafts.
