Tuesday, July 12, 2011

Crappy Housewife Tip of the Day

Doing it yourself to save money isn't always economical. Before you try to darn those socks, do a little math. Figure out how much money you will be saving, and how much time it will take you. Calculate an hourly rate, then ask yourself, "If this was my job, would I be willing to work for these wages?"

Some examples from my own life* (yours will be different, these are just examples):

Cloth diapering: Money saved: about $14 per week. Time spent: about 2 hours per week. Hourly rate: $7. Worth it? For me, yep.

Baking my own bread: Money saved: about $3 per loaf. Time spent: about 2 hours for 2 loaves. Hourly rate: $3. Worth it? For me, nope.

Making my own chicken broth: Money saved: about $2 per can. Time spent: about 10 minutes for the equivalent of 3 cans (using leftover bones that cost me nothing). Hourly rate: $36. Worth it? Heck yeah!

Share some of your own calculations in the comments, I'd love to hear them!

*Time estimates don't include waiting times, like waiting for bread to rise or soup to boil, because you can do something else during that time. Value estimates don't include non-monetary values, like how much better my broth is than the canned stuff or how much you enjoy kneading bread, but you can factor that in during the "Worth it?" stage.

1 comment:

  1. Baby Food: Money saved (assuming you purchase Stage 2 Earth's Best in a Value Pack): about $30 per week. Time spent: whatever I was already going to spend making dinner for the family, with one minute for blending or mashing. Hourly rate: $30. Worth it? Of course! (And my child is an awesome eater. I do mean to brag.)