This post is part of my Freaky Financial Fridays series, where I argue a case from an opposing view, generally in contradiction to my own philosophy or conventional financial advice.
Comparison shopping sounds like a great idea. Research the best product or service to meet your need, exhaustively look for the best deal, and only make a purchase when you’re sure that you couldn’t possibly save any more money. The problem is that such a method is often a waste of time and thus a waste of money.
Undervaluing your time is selling yourself short. Your time is probably worth a lot more than your employer pays you on an hourly basis. To estimate what your time is worth, you can use this calculator.
Once you know how valuable your time is, you quickly see why comparison shopping isn’t worth it. A quick check on a comparison shopping websites might be worthwhile, but any more effort than that and you’ll probably be spending more money in terms of your time, than you can hope to save.
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