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Why do people tend to place a greater value on their money than their time when making banking choices?
Wiki User
∙ 10y ago
For several reasons:
Valuing time is very difficult. To compare two banks you would need to compile information on the amount of time each bank would take for the various processes that you are likely to use (banks are not likely to volunteer that information), how often you are likely to use these over a typical period, the consequent costs and benefits. You then need to work out the expected overall cost or benefit. If you value your time, all that is usually not worth it.
On the other hand finding out about banking charges (if any) and interest rates is easy.
Most people do not place much value on their time because it is too abstract. The only exception is when the car in front of them does not start moving within a nanosecond of the lights changing! And if that happens, every millisecond of delay is more valuable that the driver's sanity!
Wiki User
∙ 10y ago
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