| When people ask me about getting out of debt, | | | | than $5 paying for it. I'm not saying that you |
| they often ask "Doesn't it take quite a bit more | | | | should never eat out but, that if you do it |
| time to be frugal?" Of course, doing work | | | | regularly, it will cost you a lot more (in time and |
| yourself does mean you spend more time doing | | | | money). Is it really worth it?Example #3: Buying a |
| certain things, but it also means that you will | | | | car- If you buy a new car with $500 a month |
| spend a lot less time and money working to pay | | | | payments for 5 years, you pay $30,000. Let's |
| someone else to do it. Many people work more | | | | say you earn $30,000 per year at your job. If |
| hours to pay someone else to do a job than it | | | | you assume 25% income tax, you must earn |
| would take them to do it themselves. Of course, | | | | $40,000 to pay for your $30,000 car. This means |
| if you make a million dollars a year and have no | | | | that you have to work 1 year and 4 months for |
| manual dexterity, this article is not for you.Here | | | | no other reason but to pay for that car. Is it |
| are some examples based on my own | | | | really worth working over one year just to pay |
| experience with a family of 4. Because your | | | | for a new car? If you decided to buy a $7500 |
| household income is probably not the same as | | | | car instead, you could afford to take a vacation |
| mine, some things that make sense for me will | | | | from work for a year. Haven't you been saying |
| not make sense for you. I suggest that you read | | | | you need more free time? (If you didn't get that, |
| my examples and consider your actual | | | | get out your calculator and do the math. This is |
| costs.Example #1: Buying clothes- One great way | | | | important.)Always consider the hidden costs, too. |
| to save on clothes is to go to garage sales. This | | | | Would you feel more inclined to buy a security |
| seems very time consuming to many people, but | | | | system for that $30,000 car? How much will that |
| it really isn't. In the summer, I usually spend 3-4 | | | | cost? Are the parts more expensive for the |
| hours every 2 weeks (May - September) going | | | | $30,000 car when it breaks down? Trust me, |
| to garage sales. That may seem like a lot, but if | | | | your new car will still break down almost as much |
| you compare that to how much time the | | | | as a used car. Ask my brother...Be very careful |
| average person spends shopping at the mall, it | | | | when you start saying things like "Doesn't it take |
| really isn't any longer.Example #2: Meals- I usually | | | | too much time to be frugal?" or "I can't seem to |
| average an hour and a half each day preparing | | | | find time to be with my husband or children" or "I |
| and cleaning up from meals. Compare that to | | | | don't know where to start saving." Often, those |
| going out to eat: It takes the typical person 20 | | | | are excuses that you have created to ease your |
| minutes to drive to the restaurant and 20 | | | | guilt. If you think about it and do the math, living |
| minutes to return home. That is 40 minutes. Then | | | | simply will give you more free time. If you'd |
| you spend 15-20 minutes ordering and waiting for | | | | rather not, you can always keep spending money |
| your order. You are now up to one hour. If you | | | | and wishing you had more family time. It's your |
| plan an hour for eating, you are up to two hours | | | | choice! But take heart- if you have read this far |
| total. Don't forget the 2-3 hours you had to work | | | | then you get and A+ for taking the first step and |
| to pay for it! This assumes an income of $30,000 | | | | trying!Jill Cooper is co-publisher of a web site |
| per year and a $40 family meal.If you go to fast | | | | dedicated to teaching families personal finance, |
| food restaurants instead, you could cut your time | | | | frugal living and homemaking skills. She raised two |
| down to 40-50 minutes and 1-2 hours working to | | | | teenagers alone on $500 a month income after |
| pay for it.If you stay home and cook, it will cost | | | | becoming disabled with Chronic Fatigue Syndrome. |
| you 15-30 minutes preparing the meal and less | | | | |