Do you assign a dollar value to your time and factor that into your frugal habits?

[Ocean_Beach_Dweller]

I'm probably overthinking this a bit, but here goes...

Let's say at your job you make $20/hr, so that's the value you you assign your time. So if it takes you 10 minutes to clip coupons thats about $3.30 worth of time, but you clip $30 worth of coupons so you still come out ahead. Conversely, if you spend an hour($20) clipping coupons but only clip $5 worth, you lose money.

I know it's probably not so cut and dry, and you might consider your time more or less valuable than the wage you earn at work. Also for SAHM, your hourly wage would be astronomical if you added up the wage for a nanny, housekeeper, driver, chef, teacher etc in which case your time would be so valuable, no activity would be worthy of it lol

I guess this is a really complicated way of asking if you factor in how much time your frugal activities take?

Sorry my brain is a bit too active tonight

[Contrary Housewife]

I do assign value to my time, but not in a dollar value way. Time is a resource that cannot be replenished once used up. While I don't usually put a monetary value on my time, I do often factor it into decisions... is it worth it to me to do this myself, or should I pay someone/ buy what I need?

IMO, unless you really could be at work making $20 per hour (or whatever you make) your time isn't worth that much.

[savvy_sniper]

I do assign a monetary value to my time. BUT I have lots more time than money; so there are some things I do that very green and frugal, but not worth it dollar wise. BUT I can put those dollars to better use some where else!

[2ndGenGranola]

Kind of - but like said above, I have more time than $$. After hearing DH's boss complain and even dismiss the painters he had, I'm glad I painted our house myself. I am no where near a professional but I didn't pull some of the booboo's they did.

[shoiji]

I do sometimes wonder if it is worth my time when doing something. With the coupons I definately will take the time since everything is so marked up. I figure there are people who don't use coupons because of the time factor.

Most of the frugal things I do really do not take up that much time. Then again I also enjoy cooking, baking, sewing, crafts. I also enjoy the most not having to worry about bills and money since I try to save were ever possible. That to me is definately worth the time.

[Jamauk]

I don't assign an actual dollar amount to my time (I'm a SAHM), but I do take my time and what its worth into consideration.

For instance, when deciding whether or not to do something I ask myself, how much time would it take and how much money would it save? Is it worth it to me to spend x hours to save x dollars? I don't have a magic number that makes it worth it, it also depends on what else I could be doing with my time......

I haven't had my morning coffee yet so I'm not sure if I'm making any sense at all

[spyzvixxen]

Clipping and using coupons to save money is my hobby so I don't factor in time (though if you are not just a casual clipper, it really does take up a bit of time). After all is said and done, I keep the ones I will use and sell off what I think will sell. So.....the cost of the papers + my time + profit made selling prettymuch evens out. Being home now allows me the time to do this also. If I were working FT again, I would scale down.

[Incognito]

When I first started with researching sites for coupons and freebies a year ago, I spent quite a bit of time learning about the process. I made lots of mistakes, and it was all very confusing for awhile.
But later on, I had the savvy that I needed to get the tasks done quickly and efficiently. Nowadays, it takes me very little time to do these things. I've also learned how to make better decisions when spending money, am more knowledgeable in my shopping, know prices better, understand marketing tactics and trends better, so it's all been worth it.
I compare it to a year in college, learning how to save money by becoming a more savvy and disciplined consumer.

[Nada.Leona]

I haven't made the effort to figure out what my dollar value is for my time. But I do consider what something is worth for us. For example, I might spend time clipping coupons for things like paper products, cleaners and bathroom items, but don't waste my time on coupons for food, because the majority of food coupons are for pre-packaged junk foods and DH and I eat fairly organic. At the same time, I cook a lot at home, and make sure my fridge stayed clean and empty, so that I don't waste precious pennies on rotten veggies.

Amy D. does a big article on this in the TWG.

[bumplett]

no, not so much.

I simply do what feels right, and don't do what I don't want to do.

I'll clip coupons while watching a movie, I'll crochet while relaxing in bed, I'll wash ziploc baggies while cleaning the kitchen sink..... so everything is surrounded by something else - if I don't want to clip coupons.... it can simply wait until I'm in the mood.....

I'm just not a math brain.

[never2late]

I do make that comparison myself to an extent, but more because of my work situation as I am able to work in my home. As an example, this summer we have had the ability to work as much overtime as I wanted. We had also planned on having a rummage sale and DD had started hauling things out of the attic already in May to sort through them. When the overtime became available, I really couldn't see exchanging an unknown amount of income for a sure thing, especially since we live on a dead end road in the country. But at the same time, all of this "stuff" has got to start to go. So we donated what my daughter had already gotten ready to St. Vinnie's and we'll take the charitable donation on our taxes instead. That's my winter project when the overtime is gone - cleaning out the attic and hauling the rest to St. Vinnie's.

If it's something I can multi-task, like clipping coupons while I'm making dinner, I don't count it. Or if I just have a lot of time available, I don't count it either; it's just part of life.

[PlainCash4]

I don't. I don't clip too many coupons, becuase most of them is for stuff i dont get or eat. I do clip some though, and i check out the flyers for stuff i DO usually get. I'ts just me i'm feeding so its not so bad.

[nuisance26]

~I love doing the math on what activities save me the most money for the time spent, but I love math.
I did a lot of number crunching years ago when we were paying off car loans. Every money saving activity was worth the time to me because I had a financial focus. There were times when I had to scrap plans to go to yard sales or thrifting so that DH could pick up an hour or two of OT. He earned more than I could save through my purchases so the OT won.
Now that we're debt free except the mortgage I can shift my priorities. I love being able to spend a half hour reading to my kids and not standing over the sink hand-washing dishes. I could save $1 by not using the dishwasher but it's just not worth it in light of what I really think I should be doing.
I still catch myself sometimes when I have an hour or two to spare, wondering what I could do in that time to save money. I usually end up baking goodies for the freezer. One of my biggest money savers for time invested!~

[Telephus44]

I generally value my time at $10/hr. I work full-time, and I do make more than that, but in figuring out if something is worthwhile to do, that's the figure I use.

Also, I agree with posters that some of it (particularly couponing) I consider a hobby, so it's not something that I do purely to save money, and don't consider time a factor. But if it's something I don't care to do, I will crunch the numbers for it.

[Judi Dial]

No, but I should! I have been self-employed for so long, and I dont' take pay that I don't think about it, and that's wrong. I do remember to include electricity, if appropriate though.

Judi