How to Be Frugal With Your Time (not just your money)
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Being frugal is important to a lot of people. It’s about spending on things that matter to them and getting the most value for their money. But that’s not the only area where we can be frugal.
Time is a valuable resource. In fact, it’s believed to be more valuable than money.
Regardless of whether you agree or disagree with that notion, one thing we can’t deny is that there are only so many hours in a day. So it only makes sense to spend at least some of this time doing things we actually enjoy.
Here are simple ways to be frugal with your time – which can also help you save money.
1. Be selective with invites
For many people, this might be a little difficult.
Whether you have a small or a large circle, turning down invitations isn’t always comfortable, and sometimes we feel obligated to attend events.
Obviously, there’s nothing wrong with being social and having a good time (and sometimes you absolutely have to be present). But one thing I have learned from experience is that an active social life can run you ragged.
It can be physically, financially, and mentally draining. And sometimes, you have to take a step back.
As hard as this might be, a key way to be more frugal with your time is to say no (sometimes), especially for activities that aren’t important to you or ones you wouldn’t otherwise spend money on.
Also, be selective when invited to events where you have to bring a gift or you’re expected to buy products, especially when the person extending the invitation never invites you elsewhere.
I used to accept invitations to play laser tag, attend business presentations, or go ice skating—things I didn’t enjoy. I would literally dread the day of the activity and silently complain because I was wasting my time, my money, or both.
From experience, I know that turning down invites can be a little awkward – but it does get easier.
2. Don’t spend too much time penny pinching
I absolutely love a good sale or deal. I use cash back apps and rarely buy anything full price. So my point is, I’m all for being thrifty.
But one mistake some people make (and I used to make) when being resourceful is wasting too much of their precious time for meager savings.
Another thing I’ve learned over the years is that being frugal with your time also involves looking past the moment and focusing on the grand scheme. The truth is, not considering the entire picture often results in spending dollars to save pennies.
For example, some people go out of their way to save a small amount.
What I mean by “going out of their way” is driving 20 minutes away (40 minutes roundtrip) because they found an item $5 cheaper, or driving to the other side of town to save $0.05 per gallon of gas.
At one point I had this mindset, so I know how easy it is to get caught up in the discount.
However, don’t forget to calculate the total cost and time spent chasing a savings. Because once you run the numbers, you might realize that you’re spending more in the long run.
3. Budget for “things that save time”
When I started my Youtube channel and blog, I said I would always give advice that was practical and realistic.
I’ve been writing about money topics for nearly 20 years now, and I’ve read a lot of articles and blog posts during this time.
At one point, a lot of money advice centered on giving up everything enjoyable to achieve financial goals – an idea I never really subscribed to.
Yes, you’ll have to make some sacrifices. I mean, if you’re trying to save money and you’re currently eating out every single day, it only makes sense to scale back.
But I think giving up “everything” you enjoy isn’t sustainable and often backfires – leading to frugal burnout.
So I say all that to say, part of being frugal with your time is allowing the occasional treat, and sometimes you might splurge on things that save time.
Splurges are things that you don’t necessarily need, but they bring enjoyment and make your life easier.
Using myself as an example, I don’t really like cooking. I do it, but it’s not my favorite thing and it feels like a chore. Therefore, we splurge and use Factor from time-to-time, which are chef-prepared meals delivered to the house.
For the other things I need throughout the week, I use grocery delivery (another convenience).
There’s an extra cost. But I’m not a big spender and I barely buy anything. So spending a little more on food to save time feels worth it.
The key is moderation and making sure it doesn’t negatively impact your finances.
4. Shop with a list (for everything)
When shopping for food, many people are accustomed to using a list, especially if they meal plan.
If you don’t grocery shop with a list, I encourage you to start. It keeps you focused and ensures you get everything you need. This way, you don’t have to make a second trip to the store.
But lists aren’t only great for food. I use a list for just about every purchase.
It doesn’t matter if I’m going to Target or Home Goods, or if I’m picking up items from CVS – I create a list before heading out.
One thing I’ve noticed about myself (and I’m sure many can relate) is that I’m more likely to stay in the store longer when I don’t have a list. And the more I browse, the greater the risk of buying items I didn’t intend on buying.
Frugal With Your Time FAQ
How can I live frugally but happy?
To live frugally but happily, focus on what truly brings you joy without overspending. Cook meals at home, enjoy free local events, and prioritize experiences over material goods. Practice gratitude daily and spend time with loved ones. Set a budget and stick to it, finding creative ways to save, like DIY projects or secondhand shopping.
How to be frugal but not cheap?
To be frugal but not cheap, prioritize quality over quantity. Invest in durable items that offer long-term value. Look for deals and discounts without sacrificing quality. Be generous and considerate with others, focusing on cost-effective yet thoughtful gestures. Plan and budget for experiences that enrich your life. Emphasize smart spending rather than cutting corners
What does it mean to be frugal with your time?
Being frugal with your time means prioritizing activities that offer the most value and satisfaction. Focus on essential tasks and set clear goals. Avoid time-wasting activities and distractions, such as excessive social media use. Delegate when possible and use tools to streamline your workflow.