#17 Rule Four: 15 Minutes Can Save You $3,000 A Year

Rule 1 is to "Invest In Yourself" 

Rule 2 is to "Waste Nothing"

Rule 3 is to "Live On One Income - Save The Rest"

Rule 4 is "15 Minutes Can Save You $3,000 A Year"


There is a riddle.

"If Bill Gates dropped $100 would it be worth his time to pick it up?"

Bill Gates is worth $90 billion. At a 6% annual interest rate, he is making $171 a second. Therefore it is not worth his time.


How much is your time worth?

Probably not that much.

If you make $50,000 a year you are earning about $20 per hour after taxes.

At $100,000 a year you are taking home $35 per hour.

  • If you are buying breakfast every morning, it might cost you $5 to $10. If you made your own breakfast it might take you 15 minutes and cost you $1-$2 or less. That's a $3,000 savings for just 15 minutes of your time. 

At $20 per hour, you would have to work 150 hours to make $3,000. That's nearly 4 weeks of work just to pay for your breakfast. It's ludicrous to think that you have to work an entire month every year just to pay for breakfast.

  • If you are buying lunch every day, it might cost you $8-$15. Taking leftovers from last nights dinner doesn't take much extra time. Less than 15 minutes to pack a box after dinner and the cost to you might be $3-$5. That's another $3,000 in savings for just 15 minutes of your time.

At $35 per hour, you would have to work 85 hours to make $3,000. That's over 2 weeks of work just to pay for your lunch. If you forgo you vacation time and get your vacation time paid out next year maybe you can use that extra cash to pay for your lunch. 

$1 saved is $2 earned as the saying goes.

It's easy to spend just a little bit of time and save a lot of money.


Rule 1 is the best way to make more money

Rule 2 is the best way to be as efficient as possible with whatever you spend your money on

Rule 3 is the best way to accelerate your savings

Rule 4 is the best way to save in the least amount of time and effort


What else do you spend money on but could instead spend time and save big money?


Save Money Retire Early is written by Jon Lo, a barely 30 something change optimist, and personal finance guy. I believe anyone can be rich or poor, it's what you save that makes the difference.

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