How to Count the Cost of Savings - Kathryn C. Lang

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How to Count the Cost of Savings

The time you save may not be as valuable as the cost required to save it. Look at all the variables, whether in time or resources, before you determine saving time will add to the positive column.

Count the cost of saving
I shared on the Snarky Rainbows Moment from Thursday, August 2018, how saving five minutes (or potentially saving five minutes) was not worth the cost of the stress gained in the process or the loss of time with my son.

Snarky Rainbows Moment - The Cost of Saving Five Minutes

I could save five minutes, but I lost some peace and engagement in the process.

Ultimately, the saved five minutes were actually a loss.

On the flip side of the process, I have been talking about enclosing our front porch to make a bonus room for a few years now. I talked to a couple of contractors to see what the cost would be to have it done.

The cost was reasonable – or as reasonable as additions ever run.

Right before WordCamp Birmingham, I announced WE were going to enclose the front porch (and by “we” I mean me and my sons – with the occasional assist from my husband who is not a fan of DIY projects).

Doing the project ourselves would save money but it would cost more time. But there were other gains that would come from doing it ourselves (and we have since gained).

Counting the Costs of Saving

  • First, I learned to frame a wall. To me that is an amazing thing – and it was one of my Transformation BIG DREAM goals from my WhiteBoard of World Domination. I will confess that my husband is more than a little nervous about me gaining this skill. He sees visions of new constructions dancing in my head . . . and did I mention he was not a huge fan of DIY projects?
  • Second, my sons and I are working together as a team. There are some things you can do on your own when building an addition, but too often you need a second set of hands to make it work. Teamwork is a skill that can be carried in so many directions of life.
  • Third, I have learned to not sweat the small stuff. Okay, I already know that but this project has reinforced that understanding and also giving me the courage to try something (yes, Thom, I said “try”) I haven’t tried before. We all need that reminding now and then.

It is not just about saving – either money or time – but about the cost that comes from the savings (or the benefits of not getting the savings). You need to look at everything and let all the factors have a part in your decision to save the time or the money or the resources. Sometimes saving is more of a loss.

Be blessed,

Kathryn Lang signature



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