-Justin Wolfers, business & public policy teacher at The Wharton School at the University of Pennsylvania-
I wrote the post you'll soon read below on a sunny day in August, 2009. And it's still one of my favorites.
But, this Thursday morning was a gray, snowy, cold January 5, 2012. I "made" myself get up early in the pitch black predawn darkness--out of a warm cozy bed (thanks to my heated mattress pad!!).
After-Work Birthday Dinner & Fun with the Gal Pals [over 240 years of experience here]
Sure--there are plenty of things I can't do because I choose to eat healthy, cook most of my meals (with the considerable help of "Lab Rat"), work, hang out with my friends, exercise religiously, visit my family every chance I can, and blog. But, we all make choices every day.
My soon-to-be-28-year-old son's (#2) favorite quote is something like, "Gandhi says we all have the same 24 hours in a day. How you spend it is your choice."
Update: Since writing this post in 2009 I've economized on the ways I fit in exercise, shop, cook--and spend my time. Far from perfect--but, I'm always tinkering with the best ways to "fit it all in". If your kids are still "in the nest", you have parents to help take care of, or you're a single parent--I know it's going to take a whole lot of creative time management to fit it all in.
Yesterday after work I planned to go to the gym, but I changed my mind. It was 72 degrees & sunny. I headed home, put on my workout clothes, attached the nifty radio receiver I have for my iPOD Nano & set off for an hour long walk, listening to NPR.
Marketplace Money came on with their series, Econ Fun-01--about what economists do with their free time. Listening to Justin Wolfers talk about the "Time is Money" conundrum is making me do some serious rethinking about how I'm spending my limited "free time".
Look, we only have so much time in a day. I'm at a big disadvantage right from the get-go because I live "way out" in the sticks--about a 45-50 minute commute to work--a 20 minute drive to where I work-out--a 30 minute drive from lots of my friends, my favorite movie theater, and decent shopping.
But I love where I live--it's green and open and quiet and peaceful--and my house is paid-off. Moving is non-negotiable for now.
I've got some other "time-user-uppers" that are also non-negotiable:
1. I need 7-8 hours of sleep
2. I try to exercise at least 5 days a week for 60 minutes
3. Healthy eating takes lots of time to shop & prepare for. I "make" breakfast, lunch & dinner, and I enjoy cooking.
4. Work
5. Weekend evenings are reserved for socializing
6. If I want a good night's sleep, I need to just do something mindless after 9:00 pm, like TV, magazines, or book skimming
7. I would never say "no" to an important activity or event involving family or friends
Justin's hobby of choice is training for a marathon.
My hobby of choice--reading about health & wellness, and blogging about it--is a huge time-sucker. But I love it. I love learning new things and taking the time to capture them on a computer. I love the positive feedback from readers all over the world. But, I have far too much to write about than I have time for and that creates its own stress.
And frankly, Justin is right! There is an opportunity cost.
1. Less time to do nothing--don't discount that one.
2. Less time to hang out with friends, or take long leisurely walks.
3. Less time to organize & fix up my house.
4. Less time to volunteer.
5. Less time to sit on the couch & read an entire book.
6. Less time to meditate.
7. Less time to spend with my husband.
8. Less time to work in my garden.
9. Less time to switch gears & pick up a new hobby.
10. Less time to clean up my messes, organize my photos, or learn something new.
11. Less time to just talk.
We all have our hobbies.
And we all have our time-wasters. What can we cut out? Or is it possible that some time-wasters are mind-savers because they help us to wind-down & chill-out? Facebook, Twitter, favorite-must-check-daily websites, ESPN, HGTV, sudoku, KenKen, garage sales, computer games, talking on the phone, texting, you-fill-in-the blanks.
If the internet is your time-wasting addiction of choice, you MUST READ a recent article in Slate that shows how it adversely affects our brains, and why it's actually a most unsatisfying activity! Seeking: How the Brain Hard-Wires Us to Love Google, Twitter, and texting. And Why That's Dangerous. by Amy Yoffe. Click here for the article. After reading Amy's article I'm definitely curbing my laptop usage. (Update 1/7/12): Yeah right! Hasn't happened.)
Want to waste some time seeing how Americans spend their day? Check out this interesting interactive graphic. How are we spending our time? (Very cool graphic!)
The problem:
"The same logic applies to you. Each hour you spend on your hobby you don't spend working harder to get a promotion, studying for a degree, or shopping around for the cheapest groceries."
According to me: "Or, each hour you spend on your hobby you don't spend with your spouse, friends, family, neighbors, getting your house in order, having fun or just plain relaxing."
So, am I going to keep on blogging, or am I going to give it up for more walks, housework, reading, Mahj games, and meditation? Something to think about. "I keep doing an activity only as long as it yields greater benefits than the alternative."
This "not having enough time to do everything" is a running theme for me. It's my "Fighting Entropy" syndrome and I've written about it here and here.
Justin's Marketplace transcript:
JUSTIN WOLFERS: I'm not just an economist, I'm also a runner, training for the Marine Corps Marathon.
Runners World magazine recently argued that marathon running is an incredibly cheap sport. All you need is a pair of shoes, and you're off and running. But they're wrong.
You see, they were emphasizing the out-of-pocket cost, which is small. But the foundation of all economics is something called opportunity cost. It says that the true cost of something is the alternative you have to give up.
So each hour that I spend running is an hour that I don't spend hanging out, working, or sleeping. How do I choose? Following economic theory, I keep doing an activity only as long as it yields greater benefits than the alternative.
And as I spend my hours slugging out the miles, I'm forced to confront my choices. Instead of sweating it out on the trails, I could take on extra teaching and earn a few extra bucks. And so going running costs me good money.
The same logic applies to you. Each hour you spend on your hobby is an hour you don't spend working harder to get a promotion, studying for a degree, or shopping around for the cheapest groceries.
By my calculations my 16-week training program comes at an opportunity cost of several thousand dollars. A quicker runner would have a smaller opportunity cost. It's only because I'm both slow and an economist that I fret that the world's cheapest sport is actually incredibly expensive.
But to an economist, the choice is still a no-brainer. We think you should only do what you love, and pay for it by doing what you are good at.
By sticking to economics, I make time for running. Rather than spend hundreds of dollars worth of time cleaning my house each Sunday, I hire a cleaner, who does a better job, at a better price.
When a friend asks me to help them move, I write them a check to pay professional movers instead. It's just more efficient.
And while it can be hard to forgo extra income for a long run, it is even harder to justify wasting that time on Facebook. And with the time that saves, I'm pulling on my shoes to head out for another run.
Justin Wolfers teaches business and public policy at The Wharton School at the University of Pennsylvania.
Love this post! What a solid way to think about our choices and the consequences. I have given up a lot of fun socializing because I need so much down time to read (it is a "must" with me, but the cost has been high as I do not see my friends as often (when the kids were little it was wonderful because our socializing was wrapped up in theirs) and the research is pretty clear that our personal connections are very important! I am fortunate that my family all live within blocks of each other so we socialize easily with them. Still it is not a perfect solution. I see why people end up in retirement communities because it becomes much simpler to just hang out with friends.
Posted by: Amy | January 07, 2012 at 09:21 AM
Thanks for thumbs up, Amy.
So jealous that your family lives so close to you. I have to make a conscious effort to stay in touch with the out-of-town gang--because it's easy to get busy (plus, they all have very busy lives)--and then before you know it, you become less connected in each other's lives. Don't want that to happen.
That retirement community thing always sounded like a return to college days--and that was about the easiest time for hanging out with friends.
Posted by: The Healthy Librarian | January 07, 2012 at 09:32 AM
With the busy life you lead, I am so grateful that you take the time to blog. The recipes and healthy living information you provide enhances so many lives that you simply make this world a better place. Thank you so much for sharing your time!
Posted by: deb | January 07, 2012 at 01:46 PM
I loved this thought-provoking post. I'm in the middle of personal deliberations about time use (i.e. should I take that gym class that would make me work harder and be more sociable but would take two hours out of my day all together, or get on the treadmill at home and keep doing my sporadic weight program that is too easy to be lazy about but only takes 30-40 minutes....?) so it's very timely for me.
P.S. I'm also grateful that you take the time to blog. Please don't ever take up knitting (says the one with about a dozen works in progress....!)
Posted by: Carol | January 08, 2012 at 12:16 PM
please do not EVER feel your blogging and research is a waste of time! you have helped more people than you will ever know to be inspired to take control and responsibility for their own health! i am awalking advert for HHL...it is continual hardwork to do this and my daily doses of info from your work keep me on track. the advantages definitely outweigh the disadvantages...i wish i could be as effective in inspiring others to do what is necessary but they all think it is too hard..you have a special gift..please keep on using it! When you retire from work you will be able to find a lot more hours in the day! Please hang in there till then!
Posted by: wendy doran | January 08, 2012 at 12:34 PM
Deb, Carol, & Wendy,
Thank you all for your encouragement and your kind compliments. It's so appreciated--you have no idea! Getting feedback from readers is what keeps be writing.
Carol: I've had the same deliberations about exercise: home or gym? For me, I just have to spend the 2 hours to go to a gym. It makes all the difference for me. The music, the camaraderie, the friendships, the always changing routines, & the way it pushes me far harder than I can push myself. It turns work into fun, at least for me. My one change over the years is to save time on days I'm not working by going to a local class that's only 5 minutes from home, instead of the one that's on the way to work, & 22 minutes away!
Posted by: The Healthy Librarian | January 08, 2012 at 07:42 PM
Your response is so encouraging, it's tipping me over the line into action. There's a community centre a 15min drive away that actually gears its programs to boomers, since there are so many living in the immediate vicinity. They have one hour cardio-strength-flexibility classes that cost only a $3 drop-in fee for anyone over 55, but sound like a moderate class, not sissy "seniors" stuff. So I guess I have no excuse not to give it a try! I'm planning to buy a 10-class ticket and reserve my evaluation till I've gone that many times. The only question is whether they will have a 911 situation on their hands because of me trying to get moving that early in the morning!
P.S. How is your at-home strength training program going?
Posted by: Carol | January 09, 2012 at 09:58 AM
Carol,
Sounds like a pretty good deal to me. Good memory about my at-home strength-training. I quickly realized that I prefer a "strength-training" class a lot more than doing it at home by myself.
1. I work harder in a class
2. I have a teacher who is talking about proper form as I lift--and I have some one to model. It's really hard to look at written instructions while you're trying to do a new move. No feedback.
3. Every class is different, so my muscles are continually challenged
4. There's music to distract me.
5. It's more fun & I see my friends.
6. I go 3 times a week & it has made a big difference.
7. All 3 classes uses complex moves--upper body at the same time as lower body, so it ends up being a cardio workout at the same time--heart rate up the same as in spinning.
8. Home workouts aren't for me.
Posted by: The Healthy Librarian | January 09, 2012 at 07:19 PM