Saving Money vs. Saving Time

Almost every day a person can find themselves weighing the time vs. money issue. It is important to evaluate whether time or money is most important, especially for tasks such as remodeling your home or repairing your car. This is a guide about saving money vs. saving time.
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10 found this helpful
September 9, 2004 Flag

Here's my 2 bits: Sometimes people will tell you it's not worth your time to do various things to be thrifty and frugal. However, whether any given activity is worth it is entirely up to the individual. If you go about frugality with the attitude that your tasks are entertaining to you, or that your work will be good exercise, your whole attitude changes.

Maybe you would rather build your own deck or sew your own dress while listening to the radio than veg out at an expensive movie. Maybe you actually love to cook and it is good therapy for you at the same time. Cleaning your own house can be marvelous exercise, performed at your own pace. Keeping your activities in a positive light really helps. Also be yourself. Don't let our consumerism society change you or make you feel lowly for the things you do.

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By Jayne

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3 found this helpful
November 6, 2004 Flag

To me, thriftiness is not just about saving money. It's about making the best use of the resources you have. For me, one of my most precious resources is TIME.

Don't get me wrong; I'm a great admirer of frugality and have enjoyed reading and using many of the tips published here. I love finding ways to be more efficient and effective. But while spending hours refinishing furniture and searching the grocery store aisles for the cheapest brand is admirable (and fun), please consider what you're giving up to save a few bucks.

At this point in my life, playing with my kids, and studying to finish my degree are more important than the few cents I'd save searching for the cheapest can of corn. In a few years, my kids will be at an age where they won't want Mom to play with them anymore. And by finishing my degree earlier I'll be able to support my family better that much sooner.

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Spending a bit more money now to gain time for family and education is a wise long-term investment, to my way of thinking.

By Lynne from Albuquerque

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Kelly Ann Butterbaugh4 found this helpful
July 6, 2009 Flag

There are some things that money cannot buy, and time is one of them. No matter how much money we save, we struggle to save time. But then, what's more valuable; time or money? Take a break from saving money and save time instead. It might cost you, but it's worth it.
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Spend Less to Work Less

Think about your daily routines. You work 8-10 hours a day to earn the money that supports your lifestyle. What if you cut back on that lifestyle a bit? Are you spending more time working to pay for your possessions than you're spending enjoying them? Spend less and you can work a bit less.

Sure, a person could live in an expensive home with fine furnishings, but when twelve hour shifts all week support this lifestyle, it makes one wonder. Is it worth it? The choice of a smaller house and a shorter work day seems to allow more time to enjoy that which we've been working for.

Ask yourself a few questions. Could you live without your cell phone (or at least with less of it) if it meant coming home in time for dinner each night? If you said no to weekend overtime, could you say no to something costly each month? If you answer "yes" to either question you need to shift your priorities to saving time by saving money.

Cut Time Costs

So many activities cost us time. They're addictive, they're popular, and they're time consuming. Avoid the "in" activities that quickly become obligations. Managing social webpages takes too much time without efficient reward. Video games are fun, but set a limit even for adults.

Plan ahead to save time later. So much time is wasted because of poor planning. Try to group errands together and strategically plan your route to save driving time. Likewise, avoid the grocery store during the most crowded time of day because you need dinner supplies. Instead, plan the weekly meals ahead of time and make one well-planned trip.

If necessary, schedule free time into your week. It sounds rash and a bit over-controlling, but like any type of savings, it needs to become a habit. Mark Sundays as "booked" and spend them at home doing something enjoyable. Build in an hour of "cool down" time after work. It's revitalizing and fulfilling to have this time each day.

Sacrifice Some Money for Time

Sometimes it's worth the extra money to save some time. Think of it this way: you can earn more money but you can't make more time. I'm not afraid of hard work, and if I can save some money by assembling something myself I'll do it. However, some things are worth the money to pay to have other people do it for me. My husband and I learned long ago that while we may be able to tackle many home improvement projects, we're not gifted in the art of tiling. When it came time to retile a bathroom floor, it wasn't worth an entire weekend of frustration to save installation money.

Spend Less Time Driving and Pay for Postage

We were in search of a particular item the other week, and we spent most of an afternoon driving from one store to another looking for it. I could have searched the Internet, found the item, comparison shopped, and then had it shipped to me in a fraction of the time. Yes, we would have had to wait for the item to appear at our door, but it would have been worth the money to save the time. In fact, how much money did I spend driving around shopping? Was it really worth it? No, because time is the most valuable asset we have.

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0 found this helpful
April 2, 2010 Flag

Time is money, or so goes the cliche. There's merit to that well-known phrase and many others. A person can't buy time, another cliche, so why not save it as the greatest resource? After all, if you worry about the business at hand, in due time you'll have time to waste.

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1 found this helpful
May 30, 2013 Flag

Cooking recipes usually date from the time people did not have to save on energy. Many recipes advise to put eggs, or rice or pasta in the water only once it is boiling to cook them. You can put eggs or rice or pasta or potatoes in the cold water and then start heating it.

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