When talking about the cost of something we usually think in terms of cash, currency. How much money will this item or service cost me? For most the financial resources we have access to in our banking and brokerage accounts are limited. We can’t afford to buy anything we want and must live on a budget. Unfortunately, many violate sound financial principles, don’t like the constraints of living on a budget, and end up in deep debt. American’s collective credit card debt surpassed one trillion dollars for the first time in the second quarter of 2023.That’s just credit card debt, and doesn’t include mortgages, car payments, and other types of loans. Money matters is a major issue in marriages and the cause of much stress.

When I was in high school one of the books I was required to read in my literature class was Walden, by Henry David Thoreau. At the time I couldn’t stand it. First, it was way too long, the paperback version I had was like 350 pages! I was not at all an avid reader and was much more interested in playing varsity soccer than reading about a guy who spent two years in the woods. Fifty years later I have read the book with a whole new mindset and understanding. I’ve also become a voracious reader. I don’t agree with all of Thoreau’s writings or philosophy, but his lessons learned from his time at Walden Pond and a life of simplicity, I have fully embraced.  

One of his most well-known and memorable quotes is, “The cost of a thing is the amount of what I call life which is required to be exchanged for it, immediately or in the long run.”  Don’t ask,” What does this cost, but how much time, life will it cost me now and in the long run. Thoreau believed that by simplifying our lives, we could reduce stress, increase productivity, and live more fulfilling lives. The principles of simplicity stem from a simple idea: less is more. Thoreau said: “If you can’t do more with less, you should simplify.”

We think just the opposite, don’t we? We live in a world that wants more not less. Companies want more sales, more profit margin, more dividends for their shareholders. We want bigger houses, more luxurious cars, and all the latest tech. Instead of conserving we consume, and the result is anything but contentment. Ralph Waldo Emerson said, “Money often costs too much”. He was right! Is the “price” we pay to make more money and acquire more stuff, worth the amount of “life” in the form of time, health, relationships, and integrity, required to obtain it?

I am challenged by this “new economics” for determining the cost of a thing and how much “life” I am willing to spend in exchange for it. Relationships are always worth the investment. I am very willing to invest in experiences. But when it comes to buying more stuff ask yourself, “how much “life “are you willing to spend to get it?” I’ve decided time is more important than money. I’m not willing to compromise my health to “get ahead”, working unreasonable hours and weekends, available 24/7 just to keep a job or get a promotion.  I’m not willing to pay the price and risk ruining relationships, missing recitals, ballgames, birthday parties, family events or vacations. I’m not willing to give up the rest and life balance I’ve worked so hard to achieve especially over the past five years.

Consider the following for tracking the cost of the things or services you purchase this year. Let’s say you make $25 per hour, which comes out to 33.3 cents per minute. So, the next time you buy your favorite latte and blue berry muffin, and the total comes out to 8 dollars, instead of 8 bucks, realize you spent or exchanged 19 minutes of life to get it. Or that $500-dollar new phone that just came out that you can’t wait to get. Recognize that you will exchange 20 hours of life for it. And that $25,000 new car, you will spend 1000 hours or around 6 weeks of “life” in exchange for it, not including gas, insurance, oil changes, or maintenance and repairs. Perhaps this exercise will give you a new perspective on wants versus needs. Matthew 6:33 says, Seek first the kingdom of God and His righteousness and all these things shall be added unto you.

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