I can’t believe that Get Rich Slowly is going to link to two different xkcd comics within a single month, but it’s true. Genevieve dropped a line to point out this recent gem about one of the problems with penny pinching: Sometimes people forget to value their time.
“This made me think a bit about my deal-hunting habits and what I’m really spending and saving,” Genevieve wrote. But I think this concept applies to more than just shopping. It’s taken me a long time to realize this, but as the income I earn from writing has increased, the more it makes sense for me to outsource routine chores.
It was you folks, for instance, who finally convinced me that I should pay to have somebody else do yardwork. I can more than break even by using my time on business-related activities. It still seems wrong on some fundamental level, but the truth is I have more free time to get the work done, and that makes me more money. (If I were paying somebody to do the yardwork but wasting my time by playing World of Warcraft, that’d be a different story. That’d be foolish.)
Frugality is an important part of personal finance, but it’s not the only part. Cut your costs whenever you can try and get your free credit report handy.But don’t forget to make more money — and remember to value your time!
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