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Old 05-19-2012, 01:10 PM
 
Location: MO->MI->CA->TX->MA
7,034 posts, read 14,474,847 times
Reputation: 5580

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How the Traditional “Rules” of Frugal Living Often Vastly Undervalue Time | The Simple Dollar
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Old 05-19-2012, 02:40 PM
 
Location: Las Vegas
14,229 posts, read 30,019,975 times
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Basically, a good article and most of it is true. Overall we do tend to put too little value on our time vs savings.

In 2003, I bought a 2000 diesel VW beetle and paid cash, $12,000.00. I'm still driving it today and probably will be driving it for another 7 years or so. It should be good for around 400K miles. Insurance and registration is cheap and it gets about 50MPG. There are bargains out there.

To me, there's also a huge value in not having a car payment to worry about every month. My car has been very reliable but a downside is that if I needed something major, VW's are expensive to work on.
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Old 05-19-2012, 04:25 PM
 
106,579 posts, read 108,713,667 times
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people make fun of us because we use fresh direct delivery service for our groceries.

for us to give up 2 hours on the weekend for grocery shopping is something we rather not do.

we get deliveries sunday morning at 6:30am to 8am and our day does not miss a beat.

the bills are less keeping me out of the store and away from impulsive items.

up at our 2nd home i never do anything i can afford to have someone else do so we can enjoy our free time when we go there.


we value our free time and with our photography hobby dominating what little free time we have i savor every moment more than the money it saves..
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Old 05-19-2012, 04:32 PM
 
Location: NJ
31,771 posts, read 40,672,588 times
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for a lot of people, their time is worthless. i like the examples in the article of "i could be making my own detergent, writing a freelance article, cooking a meal." for many people its "i could watch a few more hours of television." but its not for me to judge that. if they value their tv watching time more than $100 saved, thats their call. everyone likes to put down things other people like to do and i find this time thing to be silly. someone who spends a lot more time on a purchase and saves a few bucks probably enjoys it as a hobby. ill assume they know about the time they spent and the savings they got and not try to feel like i know better and put them down for it.
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Old 05-19-2012, 04:36 PM
 
Location: southern california
61,288 posts, read 87,384,526 times
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that is true trying to do it yourself can often result in wasted time and money.
knowing yourself is good too ----what can you do, what are u willing to do.
but to be fair look at the opposite if the rip off factor is high even if u mess up and need remedial work on a project, do it yourself, is still cheaper than to pay outrageous prices.
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Old 05-19-2012, 04:44 PM
 
106,579 posts, read 108,713,667 times
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im laughing because every time i set out to do something myself it ends up costing me 2x as much. they always have to undo the damage i did.

im the most un-handiest guy on the planet. i can design the most complex factory automation projects but dont ask me to hang a picture.

if i change a light bulb and it works i expect kudos from my wife lol.
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Old 05-19-2012, 06:19 PM
 
Location: MO->MI->CA->TX->MA
7,034 posts, read 14,474,847 times
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Quote:
Originally Posted by mathjak107 View Post
im laughing because every time i set out to do something myself it ends up costing me 2x as much. they always have to undo the damage i did.
This is nothing further from the truth whenever I attempt to do auto maintenance myself. Ditto when it comes to cleaning. People have wondered about me judging how I always hire maids and mechanics to do the "dirty" work but I still have the skill to cook a decent meal.
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Old 05-19-2012, 08:00 PM
 
243 posts, read 547,357 times
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I've been assembling my own computers since I was 11. Margins used to be higher, and good deals could be had at computer shows. Plus my time was worth about $0.00/hour.

My 4+ year old computer now struggles with Adobe Lightroom, and the larger files coming from current cameras. I just ordered a custom PC from AVADirect. The cost premium was about $90 versus doing it myself. But I don't have to deal with multiple vendors, days worth of burn-in tests, and the possibility of having to RMA components that are dead on arrival.

I was still able to pick out every part of the computer, down to the brand and type of thermal paste used. But AVADirect did all the cabling, testing, and grunt work.

They even noticed that the version of Windows 7 I ordered (64-bit Home) wouldn't address all 16GB system RAM and 1GB video RAM in my machine. AVADirect suggested ordering 64-bit Windows 7 Pro instead. It was a stupid oversight on my part. Would have cost me an extra OS license if I'd done the build myself.
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Old 05-20-2012, 01:04 AM
 
Location: In a state of denial
1,289 posts, read 3,034,434 times
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It's an age old problem, you either have the money or time, but not both.
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Old 05-20-2012, 10:13 AM
 
2,420 posts, read 4,367,597 times
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I think Frugality can be either a necessity or a choice.

It is a necessity when it is the only way to pay for your monthly needs. (food, shelter, utilities etc.)

It is a choice when it is the only way to pay for things you want but otherwise couldn't afford.

When it is a choice we all participate in the line drawing game. I know I could save a lot of money in groceries if I only bought fresh vegetables in bulk like ten lbs. of carrots at a time. But I don't want to peel 10 lbs. of carrots at one time and have to cook them all up and freeze them. Why, cause, it takes too much time. Now if someone would please peel them all for me first, I might buy a 10 lb bag. But then they wouldn't be cheap, cause I would be paying for someone else to peel them.

So most of us chose between savings and time. I tend to practice frugality more in shopping sales and discount stores and getting the best value for my money. Don't buy new or expensive cars and choose to live in a small house with low taxes. I draw my line, when I don't want to spend my time to save the money involved. So, I guess you would call that sort of frugal.
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