Balancing Experience and Efficiency
Valuing your time or the dime. As we navigate our personal finance journey by setting out goals, managing behavior, and determining mathematical paths, we will inevitably start to think about how these components interact. Ideally, the three will work together and we can maintain behavior that keeps us on the path and leads us to our goal. But in reality there are bound to be tension points where we need to decide which idea takes precedence over the others. For example, are we set on the destination (goals) or will similar destinations suffice? Is a particular path (math) the only one that we will consider or might we take detours if they present themselves? How flexible are we willing to be with our mode of transportation (behavior) given the different options available? To continue on the journey metaphor, let's say we are say we are planning a trip from Wisconsin to New England (my wife and I were fortunate to do this in 2023). There are a lot of places we could vi...