Time Does Equal Money- Saving Money! Take the Challenge and See Your Savings!

One of those previously learned truths we’ve often heard- “Time is money”- has been grossly abused over the years. It’s “time” to make some corrections for this more fiscally dinged generation on the value of that statement. Saving money isn’t a chance occurrence, like winning the lottery. It’s a skill, which takes knowledge and willingness to research new ways to save. At the close of this article I’ve got a challenge for you to test your savings proficiency.  

 In the past, we equated personal time spent on a project to equal lost money. Hence we paid big bucks for dinners out, grocery store stops without knowing (or caring) about price and clothing purchases that were “on sale” when perhaps it wasn’t such a deal after all. These things saved us personal time, and after all, time is money, right?

 With almost an arrogant attitude about our individual time being worth a great deal, we, as a society, have freely handed money over to retailers and merchants left and right.

 Here’s where we failed in understanding the virtue of time equaling money- we stopped thinking about how many hours it took us to earn that money or if there were better means to spend less. Worse, we began to care little about saving money at all. And, here we are, suddenly scrambling to retract years of fiscal damage.

 Time really was money, after all. We should have spent more time learning how to save it.

 Let me give you an example from real life:

 I just whipped up a second steaming pot of homemade marinara sauce from homegrown tomatoes out of my garden-a plot I’ve tended since May, which continues to produce various items even now in October.

 My initial investment was a paltry $18 for two flats of plants, plus one bag of organic fertilizer (with coupon $5) and a single bottle of combination organic fungicide/pest repellant at a sale cost of $6.00. I could have made those last two items, but I’d moved and didn’t have a compost pile this year. The organic fungicide and insect repellant was a time saver that didn’t break my bank either. In years past, I’ve also grown my own veggies from seed to save more.

 All said, I’ve gained at least 50 bucks above my initial investment- much more if you account for the fact all my produce (even herbs) are organic. It’s taken time to tend my little plot, just as it did to scald the tomatoes, pluck their skins off, and simmer a pot of marinara sauce.

 But I’m from the school of time does equal money.

 Recently I was at Walgreens picking up sale items. The register receipt showed a savings at Walgreens of $70. After my coupons, Reward Bucks and savings, I paid in cash only $14.00 for $90 of items. I got a standing ovation from three ladies behind me in line. A brief tutorial and demonstration on getting Dawn dishwashing soap for $.25, (via stacking the Walgreens coupon, plus sale price, plus manufacturer’s coupon) was all it took to make believers out of them on the virtue of spending time to save.  

 The biggest mistake we make on this process of saving money is being unprepared, expecting to save without being skilled in the process or doing our homework. Everyone is talking about saving money now. But a wise person needs to understand there’s a skill factor involved. Talking or jumping on “sales” aren’t enough.

 You have to dig in and really research. The most important step is trying to find the best buy for every penny you spend. Before you drop a dime on that gallon of milk, morning coffee, weekend trip or salon visit- ask yourself, “Is this the cheapest route?”  “Are there other ways to get the same service or product less costly or are there similar products available cheaper?” If you don’t know the answer, you haven’t done your research and likely are spending more than you could be.  

 Do the homework. Google search “cheapest prices” or “sale” or “coupons for x item” and see what you come up with. Scour the newspapers for sales. Ask at your local grocery store, CVS, Walgreens for sale flyers and extra coupon books, and network with others.

 Take this challenge: For one week, don’t spend a single penny without first knowing you’ve gotten the best price. This includes gas, groceries, clothing and personal care products. Stopping after work to buy that gallon of milk? What places offer the cheapest prices in your town? Need laundry soap? Where can you get it on sale or are there coupons for this? I’m betting if you do this for a week, your spending habits will change greatly. It will take work and some time, but you’ll begin to see why saving money isn’t a lottery draw, but rather, a skill worth learning.

Time is your money- spend it wisely!