Value of Time

Today we went up to the California Academy of Sciences. We are members and so we try to go during members only hour since it's less crowded. We always have a debate whenever we go up there, should we try to find free parking on the road or park in the garage?

Since the museum is only open to members for one hour, we have to gauge what our chances are to find parking and then balance it against our aversion to paying for parking. But, at the end, we always end up parking in the garage because it's convenient and we want to make the most of our time at the museum. We ended up spending over $13 for parking, and that is a lot, but from my perspective it was worth it.

First, it is convenient. When deciding whether to pay for something that we could probably get for free, you have to calculate the value of your time. Unless it is apparent that parking can be found easily, is it worth it to spend an inordinate amount of time looking for parking ? We had a limited amount of time and the parking garage was open (it usually is as it is still early). Also, if you have young children, then it's almost a requirement to find parking that is close by.

Second, what is our purpose? We were there to spend some time at the museum and we wanted to get there during member only hours so that it wouldn't be too crowded. Spending time looking for parking would most likely defeat this purpose.

Third, I get easily aggravated if I cannot find parking easily. Having a parking spot that is close to the museum makes things so much easier.

Sometimes, it's worth it to pay for something that could otherwise be free because your time is worth something too. There's a balance and we all have to decide where that line is.