Relative worth, merit or importance; meaningful, forceful and significant are all words associated with value. But how do you or I really perceive the word value when used in context? To me, the word value is a means of measuring the importance or significance of an event, object, person or action in my life. For instance, I have a list of values which are the standard characteristics in which I uphold myself too. Likewise, I use value as a measurement of exchange for my time and energy. For example, I value my time (so my time becomes significant and important to me); so when a product or service offers to save me time and energy I consider that product of high value to me.
Value can be defined as the equivalent worth or return in money, material and/or services. Life always seems to give back value for value received, or coined in Latin quid pro quo; which means something for something. Now let’s say a service may cost you a little more on the front-end (example, shipping and delivering of consumable products) than if you were to allocate your time to ‘do-it-yourself’. In this instance, you should always go through a cost-benefit analysis. Let’s assume the shipping of products costs you $15. You pay up-front and like magic the products show up on your porch front, end of deal. Or perhaps you could chose to ‘do-it-yourself’…Therefore, you would have to get in your car, drive to the store(s), walk around the isles, wait in line, check-out and drive home. Let’s say all-in-all, to go to the store it took you an hour to get all the products that you could have ordered for $15 in shipping. Now, the value of your time has just become $15 per hour. Do you see how value has just become a measurement of time vs. money?
So the question is, how much do you value your time? Many people have a tough time answering this question and typically under-value their own time. Just remember, no one on their death bed ever looked up and said, “I wish I would have spent more cash with my family and friends.”
Today in our fast-pace society, it’s not so much a question of how much something costs; but rather, a question of the cost of your values. Don’t you agree?