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Wednesday, June 12, 2024

How spending money on convenience makes you richer


7 areas to buy back your time

Now let’s take a look at seven areas in our lives where we can buy back our time. I’ve included a price range for how much you’ll be spending for each service — as well as how much time you can buy back.

1. Laundry

What you’re currently doing: Taking load after load of laundry to the dingy laundry room in your apartment basement you share with a dozen other families.

How you can buy back your time: Pick up and drop off laundry services like Rinse.com.

Cost: $1.75 / lb or $59 / month

Time saved: 1 – 2 hours per week

2. Housecleaning

What you’re currently doing: Scrubbing, cleaning, and vacuuming every inch of your house and still somehow not getting it clean enough.

How you can buy back your time: Hiring a housekeeper.

Cost: $50 – $100 / hour

Time saved: 5 – 20 hours / week

3. Transportation

What you’re currently doing: Using public transportation, walking, or biking to save money.

How you can buy back your time: Using a ride-sharing app like Uber or Lyft.

Cost: $5 – $15 / ride

Time saved: Variable, depending on commute.

4. Home improvement

What you’re currently doing: Watching YouTube videos while risking life and limb to repair issues around your house.

How you can buy back your time: Hiring a repairman.

Cost: Variable. This depends on the work that needs to be done and the extent of damages. However, some appliance servicers charge anywhere between $100 – $200 / hour

Time saved: 3 – 6 hours / week

5. Cooking

What you’re currently doing: Cooking every one of your meals and trying to figure out why your food doesn’t look like it does in the pictures online EVEN THOUGH YOU FOLLOWED THE DIRECTIONS.

How you can buy back your time: Order food to be delivered via apps like GrubHub or Postmates.

Cost: $10 – $20 / meal

Time saved: 6 hours / week

6. Groceries

What you’re currently doing: Going to the grocery store each week, forgetting to bring your reusable grocery bags, and hating yourself for it.

How you can buy back your time: Grocery delivery sites like freshdirect.com.

Cost: Price of groceries, plus shipping is $5.99 / order

Time saved: 1 – 2 hours / week

7. Dog walking

What you’re currently doing: Taking Fido out three times a day including the occasional 3 a.m. bathroom break because he accidentally drank too much water in the evening.

How you can buy back your time: Dog walking services like Wag and Rover.

Cost: $10 – $20 / hour

Time saved: 5 – 7 hours per week

How are you going to buy back your time?

All told, if you outsourced each of the seven areas above, you could potentially save 46 hours each week! That’s more than SIX hours per day.

Now here’s something I want to hear from you: What would you do if you had six extra hours a day? Leave a comment below. I’d love to hear what you would do if you bought back your time.



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