Is This Just As Valuable As Money

An important part of managing your finances is learning to manage your time.  After all, your time is just as valuable as your money isn’t it?.  Without time, it is difficult to earn money.  As you learn to manage your finances, it is also important to learn to manage your time.  After all, if you spend several hours saving a dollar, you haven’t really saved any money at all.

Determine the Value of the Savings

Some people feel that it is a good idea to run from store to store getting all the best deals from the weekly ads.  While this can save some money, it can also be time consuming and difficult.  A better choice may be to consistently shop at one store.  The major grocery stores cycle through most products on their weekly ads each quarter.  If you stock up while items are on sale, you will save money without having to run around.  The canned soup on sale at one store this week, will likely be on sale at your store the next.  The savings you find must be equivalent to the value of the time spent to obtain them.

Use the Internet to Save Time and Money

The internet is a great tool for saving time and money.  It provides easy access to information, prices and tools that you can use to save time and money.  Use the internet for price comparison rather than running all around town looking for the best deal.  This will help you know where to make your purchase for the best value.  You can also using time saving tools like online banking, financial tracking and more to save time while managing your finances.  Saving time is the same as saving money.

Don’t Bulk Up

Many people think that a great way to save money is to buy in bulk.  This can work well for large families but may be inefficient for those living alone.  Buying in bulk for small groups requires spending a lot of time packaging and storing items.  This diminishes your savings.  Additionally, if the items purchased are not used, the money is simply wasted.  Make sure that your purchases are actually needed or you will be spending your money unnecessarily.  A good deal isn’t really that great if you will never use it.

How do you save time?

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{ 6 comments… read them below or add one }

Everyday Tips

I save time by actually going through the circulars to look at sales and make a list. I don’t usually go down aisles and buy things I don’t need. It is more of a ‘power shopping’ trip. I grab what I need and leave.

However, I do usually go to more than one store a week, mainly because I run out of fresh fruit by mid-week, and milk and bread. So then I shop at a different store to take advantage of their sales.

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Kevin

I make a list from the circulars as well and combine it with my coupons. That helps save both money and time.

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Travis

I agree that a person’s time is invaluable. It is a finite resource, so spend it wisely. I do 95% of my grocery shopping at one store….but there are a few items that are significantly cheaper at a different store. The unfortunte thing is it is inconvenient and time consuming to go there. So, when I do go to that store, I stock up on those items (they are non-perishable). That way I don’t have to go there as often.

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Kevin

That’s a good way to stock up on time

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Well Heeled Blog

Yeps, you definitely have to balance time with money. But everyone has different ways of saving – some people are really good at the coupon game, and has the patience and the desire to learn how to do it. I don’t, but I try to make up for it in other areas of my life. Doesn’t mean I don’t trade my time for money though – instead of clipping coupons, I do my freelancing or put in longer hours at work, both of which should help me make more money, but both of which takes A LOT of my time.

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Maggie@SquarePennies

We really use the internet a lot to save time and money. Besides paying bills online we often research purchases online. I like to buy clothes from online retailers I trust for quality. I know my size from them & buy items on sale/discount for much less than I could get them at a brick and mortar store. It saves me travelling to a store & the trouble of finding just what I want. I also get gifts this way too. Helps the budget & saves stress!

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