Cost-Benefit Analysis

I don't think there are any activities that bring true, long term satisfaction except for those which involve considerable sacrifice and/or inconvenience. Often, the sacrifice will involve money, and it will always include a sacrifice of some of your time.

A cost-benefit analysis is typically used to make financial decisions, but I feel that it can be applied to most every decision when deciding if the result of carrying out that decision is worth more than the time and resources put into it. Going through this process is necesarry if we desire to follow the ancient counsel: "Wherefore, do not spend money for that which is of no worth, nor your labor for that which cannot satisfy."

Now the question: What satisfies you? Or in other words, what is so important to you that the time, inconvenience, and money it costs are no longer an issue? The answers will inevitable vary from person to person, but I think there are a lot of similarities in what we each value. As I give and explain my answers to the above questions see if you can identify some things about your own priorities.

Creating joyful memories is one of the most valuable and satisfying things I can do, and on a similar note, I find immense satisfaction in building positive relationships. These two feed off of and reinforce one another, memories are created as relationships are built and vice versa. The long-term worth of good friends and memories exceeds most anything else you can invest in. When difficult times inevitably arrive, I plan on having a reservoir of happy memories to draw on and hopefully a team of friends to support me, just as I try to be supportive of them.

Recently I took a road trip with a few friends up to the Pacific Northwest, which I will no doubt blog more about later. The trip was designed to be relatively inexpensive but of course it still carried with it a sizable price tag in money, time lost at work, missing school, and so forth. But I hardly gave those things a second thought when invited because I knew that the memories made and friendships strengthened were well worth it, and I was right. I also do not typically like to eat out a lot, but eating clam chowder or fish and chips on a pier in Seattle was more than just a meal, it was an experience.

I rarely, if ever watch TV or movies by myself because I do not think the loss of time is worth what I gain. Especially if I have seen that movie before, or if it is not educational in someway. However, I often watch movies and shows with friends/family because spending time together strengthens bonds and so forth. I'm sure by now you get the idea.

Other things that are worth my efforts, I put into goals so that I can measure them better. These are mostly things that are meant to improve myself as a person spiritually, mentally, emotionally, and physically. Things like studying the scriptures, exercising/triathlons, reading good books that benefit me with what I learn, which is why I only review non-fiction books on my blog. (I like fiction as well, but typically only listen to it while doing other things.)

Aspects of many of these things are not enjoyable, but the overall result is truly satisfying. Hiking as an example, the blisters, soreness, bug bites, and rocks in your shoes are not very fun. But the scenery and views you see, the peace you feel, the strength and endurance you gain, the appreciation for nature's beauty, the satisfaction you achieve, and (if you are not alone) the relationships built and strengthened, make the whole experience one worth repeating.

Before I wrap things up, I want to make a brief comment on the things we buy, rather than just the activities we spend money on. The same rules for me apply. Most often I can justify a purchase because of the long term benefits it will provide to me, take my recent purchase of a raft for example. It will help me better myself physically as I get exercise, as well as help create memories and friendships as I share it with others. The same went for my bike, my wetsuit and everything else that was required for my triathlons, these things are investments in a better life.

I hope that we are all happy with the way we spend our time and money, and if not, I know that we can be by undergoing a cost-benefit analysis by seeing how activities and purchases will help us later in and throughout life, and beyond. Pleasure is always trumped by satisfaction.