The big picture

Are you really saving time and money, or does it just look that way on paper?

Calculators and spreadsheets do great things. They accurately add and subtract, which helps us figure out how to save money. But they fall short when calculating intangibles, because there's no way to calculate that value or the cost.

Here's an easy example.

The cost to drive to the train station and park our car there while we're away is about $80, when you add parking to fuel and general wear and tear on the car (it's a hybrid so fuel costs are low; otherwise, this cost would be higher).

The cost to hire an Uber to drive us to the station is about $94 each way. Round-trip, that's $186.

The cost to pay one of our daughters to drive us to the station and pick us up afterward is about $50 each way, or about $100 round-trip. Add the cost of fuel and it's closer to $150 total.

If we just look at this on paper, the most frugal thing to do is to drive to the station and pay to park there. The most expensive thing is to take an Uber.

We'll likely pay one of our daughters instead.

Why?

Because of intangibles.

I like finding ways for our daughters to earn money. The daughter I have in mind likes to drive and this will take little time out of her day.

It also avoids having me drive home in the dark, after an 8-hour international flight, when I'm exhausted, possibly managing jet lag and will have not driven any vehicle in a couple weeks.

Obviously, intangibles like this aren't a way to justify any cost. I'd love to fly First Class, for example, but at $3,000 vs. $500, I can't justify it. (I think) I'd love to hire a private driver for a couple days of our trip, but at $800 a day vs. $100 for train and taxi combined, I can't justify it.

What's intangibly meaningful to you? Even though I don't know, I'll bet you do.

Just remember to take finances into consideration when you calculate it.

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