Time Or Money, Which Is More Valuable?

furiousox

(My current job)

Salary is very poor, (barely over minimum wage)

I leave home at 8.30 every morning, drop my kids to school and start my working day around 9am.
It's a field service role, so the majority of my day is spent driving.
I usually do 6 to 8 jobs per day, sometimes more, sometimes less.
I could drive anything between 500-1000 miles per week.
I eat lunch on the go and usually get home around 4.30pm
The upside of the job is obviously the hours, it allows me to leave my kids to school every morning (and sometimes collect them as well)
I've left my kids to school every day since they started in primary, they're both in secondary school now.
I know I'm very fortunate to have been able to do this and I think it's been invaluable for me as a parent as well as for them.
The job doesn't come with much stress, the van has no tracker and if I need to go and get a haircut, or pick a few bits up in a shop, drop into the bank etc I can do so.
I've often said to my wife that it's the perfect job, apart from the salary,
(My wife leaves earlier than me for work and is home later than me, she may be gone from 7am to 7pm some days)

My dilemma is that I've been offered a job with another company.
The salary is around 33k rising to 35k but it would mean me working the same hours as my wife thus leaving the kids to get up and get themselves ready and then walking to school.
They would also come home to an empty house and have to sort out their own meals.
They're both well able to do this but think maybe I would feel the wrench more than they would at this stage.
My wife will support me whatever I do, she says we are doing ok and she would prefer me to stay in my current role.
She is of the opinion that the time I spend with the children and the security that gives them, is more valuable than any financial gain.
I feel I have no option but to take the higher paid job as we all, as a family, would benefit from having more disposable income to allow us to do more together.
So it basically comes down to time, or money?
Which is more valuable??

oinkely

Very subjective OP. Probably best to work out what the actual salary difference is between the two, and the take home also, ie is it an extra €100 a week in your pocket? And then will the extra €€€ make up for what you will be giving up.

IMO, it depends on how much you value the time with the kids, while they are getting bigger and can look after themselves, that time probably can't be bought, if you know what I mean.

IMO, if you have enough €€€ to live comfortably then you can never have enough time.

furiousox

I reckon it would give me an extra 600 net per month, a substantial difference.
Having said that, we're not struggling financially.
We're not living it up either, we budget carefully so all bills are paid on time.
we don't socialise much but we do get a family holiday every year by booking it 12 months in advance and paying it off.
Like most people, sometimes it feels like you're working just to pay bills.

tea and coffee

It would depend on 3 main factors for me;
- ages of the kids
- how much I would rely on the money
- better the divil you know

If the kids are in their teens and able to do their own thing a bit more, then I would be more in favour
If I was struggling each month and this gave some space as well as a bit extra for fun/ relaxation money then that would be in favour
If the new role was as relaxed and also as secure as the current one (the current one sounds secure) then that would be in favour.

How did youcome across the new role? Are you subconsciously unhappy where you are and went looking?

Mrs OBumble

furiousox wrote: »

I
Having said that, we're not struggling financially.
We're not living it up either, we budget carefully so all bills are paid on time.

What kind of pension plan do you have for when you're too old to work? I'm thinking maybe not much given what youve said. If thats true then I'd say that if the kids are old enough to cope then its time to focus on some savings.

EverythingGood

Are the kids planning on 3rd level? Would the new job give them better future options? Have you any rainy day funds? I think yo uneed to think of 10 years down the line and beyond, rather than tomorrow.

jimmycrackcorm

EverythingGood wrote:

Are the kids planning on 3rd level? Would the new job give them better future options? Have you any rainy day funds? I think yo uneed to think of 10 years down the line and beyond, rather than tomorrow.

This! They're old enough to be able to go to school and back and the extra money will help for this, not to mention for holidays or any extra expenses.

Time is more valuable than money only when you have enough money to start with.

Mc Love

Stress is a huge thing to think about. I went from working in a nicely paid job with stress to a lower amount paid job with no stress, and I think I'm happier in the lower paid one (although i wish it was a bit more money) and I have more time at home with our young child.

furiousox

For me personally the job that I do does affect my feeling of self-worth.
I'm not ashamed of what I do, but yes, I am ashamed of what I earn.
I have no pension plan in place.
Kids are 16 and 14, so old enough to look after themselves I know.
We've been putting money by every month in a separate account since the kids were born so there should be enough there if they wish to pursue a third level education.
I would certainly hope they would.
I've actually said to them to get a third level education or they would end up doing a job like mine!