How to better manage your time to save money

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If your goal is to start saving more money, it may seem counterproductive to pay someone else to help you with everyday tasks. Why pay for someone to clean your house or do your landscaping? You’re completely capable and it saves money, right? Well you may be wrong. What you should consider is, can you do the task as well, as cheap and as quickly?
Consider looking over your budget and available time to decide what everyday chores you should begin outsourcing. Is there any opportunity cost you are missing because of your lack of time? If you hired someone to clean the house, watch the kids and cook, would you be able to increase the household income overall with a second job? Are you spending more on supplies for these chores than what it would cost to pay someone else? Some things you could consider outsourcing include:

  • Household work such as cleaning, laundry and cooking
  • Child care
  • Car washing
  • Lawn maintenance
  • Pet care
  • Grocery Delivery

An easy way to determine what to outsource is by evaluating how much your time is worth to you. Put an actual dollar figure per hour of your day. If you can pay someone less than that to do a task for you, it may be worth it.
On the other hand, there are also things you can insource and still save time and money. For example consider:

  • Doing your own investing and taxes rather than paying a company.
  • A hobby like gardening to supplement your groceries.
  • Learning how to cut and style your own hair.
  • Handling basic car and household repairs.

True, insourcing many of the things you currently rely on other people for may seem overwhelming. But with a bit of research (YouTube), you can learn to do most things on your own and will save tons!
Every person and household is different. Be attentive to what parts of your day can be restructured to save you both time and money.
Need help?
Contact Apprisen to see how our certified counselors can help. Visit our website to get started!

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