Time is Money

In these times, it is sometimes tempting to get caught up in trying to cut corners to save a buck. I’m here to tell you that it is OK to spend — especially if it means saving you in the long run.

I once knew a guy who liked to save money by being a do-it yourself type. He was pretty good at painting, and basic carpentry, but not much else. There were things he taught himself how to do — like change his own oil, for example. All these things helped him save money for his family, and he was proud. One day, he decided to work on his plumbing. He knew it might be tricky, but he was determined and he had a book to help him along. Well, one thing led to another and in his attempt to fix the problem he created three new ones.

That day he also ended up missing his son’s baseball game and his daughter’s soccer game. Ultimately, he had to call the plumber, but he learned an important lesson: The time he wasted was more valuable than the money he spent. The moral of the story: Stick to what you can do — and don’t be afraid to pay someone so you have the time to enjoy your family.

The other side to this story is to deal with problems early on — ideally before they even start. Taking good care of your things and maintaining them as needed will certainly preserve the life-span, but fair wear and tear is bound to happen eventually. Keep an open eye out for problems that show up in their early stages (a leaky faucet; the hot water heater not getting the water as hot as it used to; odd sounds coming from your appliances or boiler, etc.). Act quickly when you suspect something is not right. While you try and figure out how to solve these “little” problems, they often get worse and repairing them becomes more difficult (and, often times, more costly).