You can learn from this mistake
Several years ago, we had trouble with our bathroom sink draining. I can usually fix things like this easily, so I got out the tools and went to work.
My plan was to snake the line, clear the clog and get back to work.
A few hours later, the line was still clogged and I had dis-assembled the pedestal sink into several pieces.
I thought I could get to the clog easier by taking the sink apart, but I was wrong.
When I finally gave up and called the plumber, (Yes, I can be stubborn) he was just as perplexed as I was.
But only for a few minutes.
Whatever was stuck in the line, would re-clog as soon as the snake was pulled back through.
And the plumber told me that taking the sink apart, actually made his job more difficult.
So he replaced that part of the line and put my sink back together.
And after spending the afternoon on this project, I was still out a service call from the plumber.
I learned a valuable lesson that day.
The present value of costs.
The biggest asset we have is time. And once it is gone, you can never earn it back.
If I would have called the plumber first and spent my time working, then I would have came out ahead because I can earn more in one afternoon than the $100 I spent on the plumber.
And so can you.
So, whether you have investment property or are just working around your own home, remember the present value of your time before you take on a project.
What life lessons have you learned lately?
I’d love to hear about it!