Recently we ordered a new softwater system and reverse osmosis system.
The water in Las Vegas is about as hard as there is anywhere. It is like bathing in the river with all the sand and sediment rushing through your shorts. Drinking the water is like drinking out of the stream and I haven’t done that since fishing in Montana as a little kid.
It cost us a chunk of change for the new system but hey, it is our health.
Two days later our anti-siphon valve busted…purely coincidence. The point is, we just spent quite a bit of money on the soft water system and now I need to replace the anti-siphon valve.
I could do it and it would not cost much because there would be no labor charge or premium on the parts. Just go down to the store and buy it along with the fittings and do it myself.
I’ve done many things around our house just like this and it saved me hard earned cash. If I didn’t do it myself my dad would probably give me a hard time since he taught me how to do everything around the house. He has been a carpenter for 35 years and he is a big advocate of, Do it yourself and save the money.
I have subscribed to this theory for many years and previously I even bought my own bug sprayer to save on pest control service, wash my own car, etc. Heck, I even built a wood deck in the backyard.
If you enjoy doing something…enjoy. But if you are doing it to save money, you may want to subscribe to a new theory.
Do only the high value tasks.
If you are in business for yourself you know that you can’t do everything and sometimes you hire others to do what you can’t or won’t do. But so many people I talk to forget to do the same thing around the house and in their every day life.
While the plumber fixed my valve and charged me $325 I was in a meeting with a business partner working on a major project that may pay us more in a month than we used to make in one year.
So does it make sense to do it myself to SAVE $325 or pay the $325 and go make one hundred times more?
If you didn’t own your own business you might not get this. If you are not making more than the $90 per hour plumber you may still be struggling with this but let me ask you…
“At what point are you going to value your time at the rate at which you want to be paid.”
For all the naysayers that will respond by saying something like, “Don’t waste money when you can do it yourself” or “the economy is tough, you should save money and don’t be wasteful”…I have a response for you-
I can hire the plumber and make more than it costs me to hire him. It gives him a job and I get to make more so we both WIN.
The same thing is true for everything else I pay to have done versus doing it myself.
You have heard people talk about outsourcing. They may even mention outsourcing certain marketing tasks to India or the Philippines because it is cheap…and that is true…but outsourcing can start right at home.
- Calculate how much you want your time to be worth.
- Write down everything you do on a daily basis and figure out what you can hire someone else to do it if it is below your time value.
- Perform high value tasks while that person you hired is doing something else. This is the key. If you watch TV while someone mows your lawn, it costs you money.
Not to be contradictory but if something is below your paygrade BUT you enjoy it that is different. Spend time with your kids instead of hiring a Nanny…yeah I agree with that one.
What do you want to outsource first? Tell me below.