Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Frugal Living
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-18-2010, 04:00 PM
 
53 posts, read 55,144 times
Reputation: 51

Advertisements

Today I was washing out a zip lock bag for reuse. I began to wonder if I was using 20 cents of water to save a 15 cent bag.. I did it and will probably continue anyway, out of reflex I guess.

I wonder if anyone else has found things about their frugality that they may have thought were borderline redundant or not as helpful (later) as they thought when they first began doing it.
Reply With Quote Quick reply to this message

 
Old 08-18-2010, 05:55 PM
 
13,005 posts, read 18,903,092 times
Reputation: 9252
You also have to consider the value of your time. Someone who drives on surface roads to save 50 cents on tolls but spends an additional 10 minutes is doing something worth $6.00/hour.
Reply With Quote Quick reply to this message
 
Old 08-18-2010, 06:42 PM
 
Location: Victoria TX
42,554 posts, read 86,954,125 times
Reputation: 36644
Quote:
Originally Posted by Anthony Pepperoni View Post
Today I was washing out a zip lock bag for reuse. I began to wonder if I was using 20 cents of water to save a 15 cent bag...

According to my current water rates, it takes me about a third of a day to use 20c worth of water. I have never bought a plastic bag in my life, since everything I buy in the produce department goes into a free one.
Quote:
Originally Posted by pvande55 View Post
You also have to consider the value of your time. Someone who drives on surface roads to save 50 cents on tolls but spends an additional 10 minutes is doing something worth $6.00/hour.
If there is nobody standing around waiting to pay me for that ten minutes, my time is worth absolutely nothing. The value of something is what someone is willing to pay for it. "Time is Money" is one of the most absurdly false of all platitudes. My time is clearly not worth $36 an hour, because nobody has ever paid me that much for any hour I've ever worked in my life. If my time was worth $36 an hour, I'd never have worked any more than about 400 hours in any year. $14K, tax free, ten weeks work. I can manage that . . . because I'm frugal!

Last edited by jtur88; 08-18-2010 at 06:55 PM..
Reply With Quote Quick reply to this message
 
Old 08-18-2010, 10:35 PM
 
Location: Wherever I want to be... ;)
2,536 posts, read 9,929,427 times
Reputation: 1995
Quote:
Originally Posted by jtur88 View Post
If there is nobody standing around waiting to pay me for that ten minutes, my time is worth absolutely nothing. The value of something is what someone is willing to pay for it. "Time is Money" is one of the most absurdly false of all platitudes. My time is clearly not worth $36 an hour, because nobody has ever paid me that much for any hour I've ever worked in my life. If my time was worth $36 an hour, I'd never have worked any more than about 400 hours in any year. $14K, tax free, ten weeks work. I can manage that . . . because I'm frugal!
That is absolutely untrue (no offense). In the time you waste you could be bettering you skills, learning new things, broadening your skill set, etc. Ask any business owner...

For example, I do web programming... although I might not have someone immediately wanting to pay me 24/7... my time is valuable because it takes time to learn new things that give me more "value" to a prospective client/employer.

With the "Time Is Money" idea, you have to take it to the next step of not necessarily meaning immediate payment of money for time spent doing something, but of the concept of an opportunity cost.
Reply With Quote Quick reply to this message
 
Old 08-18-2010, 11:36 PM
 
Location: Victoria TX
42,554 posts, read 86,954,125 times
Reputation: 36644
Quote:
Originally Posted by thepinksquid View Post
That is absolutely untrue (no offense). In the time you waste you could be bettering you skills, learning new things, broadening your skill set, etc. Ask any business owner...
And why can't one be bettering himself with constructive and analytical thinking while leisurely driving a slower route? To some people, this would come as a surprise, but there are people who use their leisure time actually thinking, which sometimes even betters their skills. But driving at higher speeds on tollways requires a higher level of concentration on driving, precluding constructive thought process. So driving on a slower road might release 30 or 40 minutes for constructive thought, rather than wasting ten.

A person who reduces his insatiable passion to purchase consumer goods, at the same time reduces his need to better skills that have no virtue except their economic marketability. In other words, if you don't sell your soul to the marketers, you don't have to sell your soul to the producers. That formula leaves life, as a remainder.
Reply With Quote Quick reply to this message
 
Old 08-19-2010, 04:00 AM
 
Location: Wherever I want to be... ;)
2,536 posts, read 9,929,427 times
Reputation: 1995
Quote:
Originally Posted by jtur88 View Post
And why can't one be bettering himself with constructive and analytical thinking while leisurely driving a slower route? To some people, this would come as a surprise, but there are people who use their leisure time actually thinking, which sometimes even betters their skills. But driving at higher speeds on tollways requires a higher level of concentration on driving, precluding constructive thought process. So driving on a slower road might release 30 or 40 minutes for constructive thought, rather than wasting ten.

A person who reduces his insatiable passion to purchase consumer goods, at the same time reduces his need to better skills that have no virtue except their economic marketability. In other words, if you don't sell your soul to the marketers, you don't have to sell your soul to the producers. That formula leaves life, as a remainder.
I see where you're going, especially with the last part... but one could also say that bettering your skills might not necessarily be directly related to money/purchasing power/etc, but simple personal fulfillment as well. In that case "Time Is Money" would take a broader sense, I suppose. It could be more related to someone feeling as if they're utilizing their time in the best way possible (even if that is, to some, driving slower and using the time to be introspective).

And, although I consider myself far from materialistic... I'm not ashamed to say that to me, it's more of a time = money equation than something of a deeper sense.
Reply With Quote Quick reply to this message
 
Old 08-19-2010, 08:22 AM
 
13,811 posts, read 27,445,190 times
Reputation: 14250
We all have limited time. I prefer to use my spare time doing things that have a great value than saving $0.10 on a bag. Although I have on occasion washed out plastic bags.

For example, to replace my car's front O2 sensor would be around $250-$300 at a shop. I can do it myself for $150. Time is better spent doing that then washing out various $0.10 plastic bags.

I also make $500-$900 per day of over time, so if I am available I will work OT and farm out the things I can't do at home like laundry, mowing grass, etc.

It wasn't always like that, I used to do everything myself but now it just makes more sense to start paying others to do things for me if I am able to work.
Reply With Quote Quick reply to this message
 
Old 08-19-2010, 09:09 AM
 
Location: Victoria TX
42,554 posts, read 86,954,125 times
Reputation: 36644
Quote:
Originally Posted by wheelsup View Post
We all have limited time. I prefer to use my spare time doing things that have a great value than saving $0.10 on a bag. Although I have on occasion washed out plastic bags.

For example, to replace my car's front O2 sensor would be around $250-$300 at a shop. I can do it myself for $150. Time is better spent doing that then washing out various $0.10 plastic bags.

I also make $500-$900 per day of over time, so if I am available I will work OT and farm out the things I can't do at home like laundry, mowing grass, etc.

It wasn't always like that, I used to do everything myself but now it just makes more sense to start paying others to do things for me if I am able to work.
Very few of the people reading this are in a position to make $100 or more per hour ($2 a minute) in the time they spend rinsing out plastic bags. For nearly all of us, working any overtime at all is a virtually closed option unless specifically requested by the employer, and not simply a recreational choice "if I'm available". Your world, to the rest of us, would be a dream world, and we are not necessarily well-served by adapting your time-is-money view to our real world circumstances.

Incidentally, I have a problem with your figures. It appears that your hourly wage for working overtime is much higher (maybe double) than the shop labor rate, so why would you waste time (= money) doing your own auto repairs? Why not drop your car at the garage, go to the office for a couple of hours and make $300, then pick up your car and pay the $150 labor bill?

In fact, why not work overtime EVERY day, for an additional $250K a year, ten-million in your working lifetime, instead of fritting away your time (= money) doing ANYthing else? Throw in every weekend, and make that twenty million. Or do you sometimes LIKE to do something with your time (= money) that does not necessarily make money? Is it nice to have the option?

Last edited by jtur88; 08-19-2010 at 09:29 AM..
Reply With Quote Quick reply to this message
 
Old 08-19-2010, 09:12 AM
 
Location: Texas
44,254 posts, read 64,351,440 times
Reputation: 73932
You could just put the ziplocks in the dishwasher.

To me it's not a matter of frugality. The ziplock bag is still good and there's no reason to throw it away. Wasteful.
(Of course, if you stored raw meat in it, then by all means...toss it.)
Reply With Quote Quick reply to this message
 
Old 08-19-2010, 12:38 PM
 
Location: Victoria TX
42,554 posts, read 86,954,125 times
Reputation: 36644
Quote:
Originally Posted by stan4 View Post
You could just put the ziplocks in the dishwasher.

)
That's where all mine are. I use the dishwasher for storage of plastic bags. It has no other usefulness.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Frugal Living
Similar Threads

All times are GMT -6. The time now is 03:45 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top