Considering convenience in frugality
One of the most common objections to being frugal is: “I don’t have time.” People wonder if it’s really worth the time and energy involved in clipping coupons and making their own salad dressing? You’re expecting the answer to be “Yes, it’s worth it” aren’t you. But the truth is, it depends. Not every frugal method is worthwhile to every person. But if you don’t at least become aware of the possibilities, you will miss out on something.
Your time is money
When I’m considering which option is the most frugal available to me, I simply factor in my time. How much you consider your time to be worth is subjective. You could base it on what you make at a job, or on some arbitrary formula that makes sense to you. For example, let’s say I can save $X by driving an extra hour (altogether) to buy a product in another town. I deduct the cost of gas from the $X. Then I deduct my hourly rate. Is there anything of $X left? Then yes, it’s worth my time to drive that distance to save that kind of money.
But there are other considerations. What if that hour is the only time I have for something else that’s important to me? In that case, the savings may not be worth it. On the other hand, if I have to drive to that other town two weeks from now anyway, I could just wait and grab the product then – unless I have to have it now – and I’ve made the best possible bargain.
Convenience
The trick to being frugal but still enjoying yourself is simple: always consider convenience as part of the savings. Don’t prioritize it ahead of spending – just make it part of the equation. You may even find that some more money saving options are actually more convenient than the more expensive options. For example, ordering videos online through Netflix or Blockbuster is likely to drive video stores out of business. Not only is it more convenient to order videos online and simply pick them up and return them via mail, but it’s also much cheaper than video rentals ever were because they don’t have the overhead of a store.
Frugality is not about saving above all else. It’s about considering options and choosing the best ones for you instead of just spending unconsciously without a plan. That’s all it is – and it’s absolutely worth it.
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