Your Time or Your Money: Living Frugally, or Living Comfortably?

The single biggest issue that always strikes me when reading about the frugal living lifestyle is most things in life come down to two simple things - your time and/or your money. We seem to have a single tradeoff to contend with in each choice we make. Do we spend our time? Do we spend our money? Generally things cost more of one or the other based on the decision we make. We make a trade-off and a balance in each thing we need or desire.

When I go to the grocery store, for example, I make a choice. If my choice is to buy elemental ingredients for the foods I will cook that week then I purchase items like flour, eggs, milk, meat, fruits, and vegetables. Very few of the items in my cart come in a box or any kind of unnecessary packaging. I am not paying for processing of these items into another form so they are likely cheaper. The tradeoff that I then contend with is that I will have to cook my meals from scratch. This will likely take more of my time. I saved money when I shopped and I traded-off for more time in cooking and preparation.

Perhaps I do not know how to cook from scratch or perhaps I have very limited time to cook my meals due to my work or family schedules. I go to the same grocery store and purchase most of my items in a box or in the frozen foods aisle. My packages are filled to the brim with frozen pizzas and hamburger helper type meals. In theory these items will take me less time to prepare. My food bill will likely be double the cost it was when I purchased the elemental ingredients. I have traded a higher grocery bill for less preparation time.

My experience in life is that different people have different situations and goals. What works for one person may or may not work for another. Many of us are busy one week and have more time the next. That is just the way our lives tend to be. So, I make the assumption that most people will shop somewhere in-between both scenarios as their available money and available time allow.

As you learn to cook from scratch though you learn that it isn't always faster or easier to buy something in a box and cook it. Sometimes you could have just as easily cooked a meal from scratch and had it not only take the same time but also be healthier for your family. Instead of that hamburger helper type meal loaded with salt and preservatives you could have made tacos or you could have made hamburgers with a side salad or veggies. It is about money and time but it is also about health and choice.

Some people also balance their concerns with conservation and the environment in the equation. They consider their time, their money and the good of the environment when making choices in life. For me this usually just honestly isn't the case so I will choose not to write about a practice I don't generally accept as my own.

Life is never as cut and dry and simply your money or your time. But these two things always factor in and should be considered in your decisions.