Investing is fundamentally about taking actions today that you believe will benefit you in the future. We often think investing is about being smart with stocks, bonds, and retirement. That may be, but it misses out on the reality that you can invest your time and money in everyday ways that will give you future long-term outcomes.
I’ve noticed an intriguing phenomenon among many of my fellow Mom friends. We consistently invest our time and money very differently. I call it the “Chick-fil-A phenomenon.” The phenomenon applies to people with and without children, but I use this example because I see it so frequently.
Chic-fil-A Phenomenon
The Chic-fil-A phenomenon refers to investing your money and time for an immediate outcome, rather than on something of more lasting value. I have no issue with frequenting Chic-fil-A. In fact, I went there recently with another family. The phenomenon is not about the eating establishment, but about your choices around time and money. The Chic-fil-A phenomenon applies whenever you pay an equivalent amount of time and money for something that gives you an immediate respite, but fails to help you achieve anything long-term.
We all have some things we need to accomplish, often that require some focused time daily or weekly, to make a difference. When people ask me how I “get things done”, the answer is I have a lot of childcare. I pay people to watch my kids, often even when I’m home. The reason I pay someone to be with my kids, is that I put my money and time toward the things that give me the most lasting value. I have items that are a priority: exercise, decluttering, catching up on work from the office. I pay $5-15/hour depending on who is watching my kids. The low end is for a Mother’s Helper, someone who cannot be home alone, wants babysitting experience, and I’ll have to check on a lot. The higher end is for an experienced babysitter that I can leave alone with four children, ages 1-7 years.
We rarely get fast food. This is not about health, as much as it is about cost. We do order pizza, and Grandpa buys the kids McDonald’s, but that is the exception, not the rule. When things are crazy, I heat up canned soup, or we have cold sandwiches. However, I know many families that routinely order food out. Quite a few of my fellow Moms head to Chic-fil-A for the fast food and play area weekly, often when they need a break. Many of these same parents say they can’t afford childcare. Good quality childcare is hard to come by and often expensive. But it doesn’t cost much more than Chic-fil-A for three people. To simplify the Chic-fil-A phenomenon in this example:
If you can afford to buy Chic-fil-A, you can afford help at home.
Help at home, particularly in the form of childcare, let’s you focus on a priority item. It also creates an identity that says “I invest my time, money, and energy into this item” – which is invaluable for strengthening your ability to continue to prioritize that item in the future.
Take a look at this breakdown
Mother’s Helper/Babysitter: $25
- Your kids get dedicated play time for 2-3 hours
- You get dedicated time to focus on a project for 2-3 hours
- long-term benefit
Chick-fil-A for 3 (including tax): $25
- You are with your kids for 1-2 hours (possibly with a play area)
- You get a break from cooking
- You all get out of the house
- near-term benefit
The question when using your dollars day-to-day, is always what outcome do you want? If you want a long-term outcome (finally getting rid of junk; focusing on a work project; getting healthier), you will need to devote some undivided time and money to those outcomes routinely. You can always repurpose dollars from something with immediate benefits for something with long-term outcomes. Most of us can afford $25/week to making progress on items of lasting value in our lives. Give it a try.
Photo by Les Anderson on Unsplash