Comments on: When Spending The Money Is Worth The Cost. http://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/ A place to discuss money...for the rest of us. Fri, 10 Feb 2012 05:21:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Robin Poulinhttp://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/#comment-33594 Robin Poulin Thu, 30 Jul 2009 18:20:07 +0000 http://www.mytwodollars.com/?p=2095#comment-33594 I agree with your equation Matt (Jabs that is). I try to do it myself or find a friend with the skill and return the favor if I can with my skill set. Often I only have my gratitude to offer and the chance for them to feel good for doing something nice for a friend. I'm also willing to give and not expect anything back. We definitely pay for our taxes to be done. We tried a couple of years on our own when first married. Then we had a tax accountant friend do our taxes (and did back years we had done). They found another $5000 for us so it became very worth it to spend the $100. She's amazed us every year. When somebody's good at their job it's a work of art and a pleasure to watch their passion/ability. I agree with your equation Matt (Jabs that is). I try to do it myself or find a friend with the skill and return the favor if I can with my skill set. Often I only have my gratitude to offer and the chance for them to feel good for doing something nice for a friend. I’m also willing to give and not expect anything back.
We definitely pay for our taxes to be done. We tried a couple of years on our own when first married. Then we had a tax accountant friend do our taxes (and did back years we had done). They found another $5000 for us so it became very worth it to spend the $100. She’s amazed us every year. When somebody’s good at their job it’s a work of art and a pleasure to watch their passion/ability.

]]> By: Slinkyhttp://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/#comment-33307 Slinky Wed, 24 Jun 2009 16:43:27 +0000 http://www.mytwodollars.com/?p=2095#comment-33307 Hemming jeans because my sewing machine can't handle the layers of denim. Moving pianos because I've seen so much damage come from people who don't know what they're doing. Hemming jeans because my sewing machine can’t handle the layers of denim.
Moving pianos because I’ve seen so much damage come from people who don’t know what they’re doing.

]]> By: Matt Jabshttp://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/#comment-33279 Matt Jabs Tue, 23 Jun 2009 02:16:03 +0000 http://www.mytwodollars.com/?p=2095#comment-33279 I'm pretty confident in my ability to most things... as long as I have the proper tools for the job! That said, I always prefer to weigh my opportunity costs regarding any job. I have a calculation I do in my head that would appear similar to this I suppose: x = difficulty for me y = my time spent z = cost for professional to do it If x+y>z then I will gladly pay the professional. If x+y<z then I will usually do it myself. I’m pretty confident in my ability to most things… as long as I have the proper tools for the job! That said, I always prefer to weigh my opportunity costs regarding any job.

I have a calculation I do in my head that would appear similar to this I suppose:

x = difficulty for me
y = my time spent
z = cost for professional to do it

If x+y>z then I will gladly pay the professional.

If x+y<z then I will usually do it myself.

]]> By: AnnJohttp://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/#comment-33271 AnnJo Mon, 22 Jun 2009 16:44:02 +0000 http://www.mytwodollars.com/?p=2095#comment-33271 There are so many good sites online for repair instructions and parts, I've become much braver in recent years. Lately, I - removed and cleaned out the clogged trap under a bathroom sink, - fixed a constantly running toilet, - cleaned out the overflow valve from the dishwasher (23 years living in this house, and I had never asked myself what that gizmo was on my sink, but when the new dishwasher leaked all over the floor and before calling the dealer, I did my research and fixed the problem in 10 minutes), - put in new wall sconces in the bathroom, - figured out why my washer was leaving white deposits on my clothes and fixed it, - figured out why my Foodsaver was smoking and fixed it, - ordered and installed a new bracket for a broken door-shelf in my refrigerator, - figured out why my cordless screwdriver wouldn't work even with a fully charged battery (I know this makes me sound like an idiot, but I had no idea that rechargeable batteries eventually stopped taking a charge. Hey, no one's born knowing this stuff, right?) The one project I wish I had decided to contract out is stripping the wallpaper in my bathroom. It seemed so easy at the beginning, but it's turned out to be a major pain. There are so many good sites online for repair instructions and parts, I’ve become much braver in recent years. Lately, I
- removed and cleaned out the clogged trap under a bathroom sink,
- fixed a constantly running toilet,
- cleaned out the overflow valve from the dishwasher (23 years living in this house, and I had never asked myself what that gizmo was on my sink, but when the new dishwasher leaked all over the floor and before calling the dealer, I did my research and fixed the problem in 10 minutes),
- put in new wall sconces in the bathroom,
- figured out why my washer was leaving white deposits on my clothes and fixed it,
- figured out why my Foodsaver was smoking and fixed it,
- ordered and installed a new bracket for a broken door-shelf in my refrigerator,
- figured out why my cordless screwdriver wouldn’t work even with a fully charged battery (I know this makes me sound like an idiot, but I had no idea that rechargeable batteries eventually stopped taking a charge. Hey, no one’s born knowing this stuff, right?)

The one project I wish I had decided to contract out is stripping the wallpaper in my bathroom. It seemed so easy at the beginning, but it’s turned out to be a major pain.

]]> By: Melissahttp://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/#comment-33239 Melissa Thu, 18 Jun 2009 14:48:18 +0000 http://www.mytwodollars.com/?p=2095#comment-33239 We purchased a house that needed quite a bit of renovating/TLC...we have done most of the work (laying hardwoods, drywall, some minimal electric work, etc) but we contracted out the exterior painting (the house is 3 stories in places), tile work and gutting/rebuilding the bathrooms. DH was really reluctant to contract the work out but now agrees it was SO worth it in the end as it saved time, stress and (likely) injuries! We laugh and say we'd still be demo-ing the bathrooms given the amount of time it took professionals...and we both work FT. On a regular basis, we "outsource" tailoring, car maintenence and my (guilty pleasure) monthly mani/pedi...I think that's it. We do our own taxes, care for our own yard, etc. We purchased a house that needed quite a bit of renovating/TLC…we have done most of the work (laying hardwoods, drywall, some minimal electric work, etc) but we contracted out the exterior painting (the house is 3 stories in places), tile work and gutting/rebuilding the bathrooms. DH was really reluctant to contract the work out but now agrees it was SO worth it in the end as it saved time, stress and (likely) injuries! We laugh and say we’d still be demo-ing the bathrooms given the amount of time it took professionals…and we both work FT.

On a regular basis, we “outsource” tailoring, car maintenence and my (guilty pleasure) monthly mani/pedi…I think that’s it. We do our own taxes, care for our own yard, etc.

]]> By: Genehttp://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/#comment-33236 Gene Thu, 18 Jun 2009 14:10:59 +0000 http://www.mytwodollars.com/?p=2095#comment-33236 It's Gene at www.kitchentablenomics.com here. I've been exploring both choices recently -- learning a new skill, drywall, to deal with consequences of a rented one, some quirky things a friend of a friend did when he gave us a 'deal' on some bathroom remodeling. I posted some details last month at http://kitchentablenomics.blogspot.com/2009/05/sometimes-you-need-to-spend-money-to.html if you are interested. Otherwise, I do as much of this myself as possible, because the lawn, garden and outside work is good physical exercise too. It's cheaper than a gym membership, which is a consideration for down-sized career changers like myself. Right now, I'm weighing house painting. Our trim needs it. I know I can do it. But 63-year-old ex desk jockeys shouldn't go up 22-foot extension ladders on a whim. It’s Gene at http://www.kitchentablenomics.com here. I’ve been exploring both choices recently — learning a new skill, drywall, to deal with consequences of a rented one, some quirky things a friend of a friend did when he gave us a ‘deal’ on some bathroom remodeling. I posted some details last month at http://kitchentablenomics.blogspot.com/2009/05/sometimes-you-need-to-spend-money-to.html if you are interested.

Otherwise, I do as much of this myself as possible, because the lawn, garden and outside work is good physical exercise too. It’s cheaper than a gym membership, which is a consideration for down-sized career changers like myself.

Right now, I’m weighing house painting. Our trim needs it. I know I can do it. But 63-year-old ex desk jockeys shouldn’t go up 22-foot extension ladders on a whim.

]]> By: Matt SFhttp://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/#comment-33229 Matt SF Thu, 18 Jun 2009 05:48:37 +0000 http://www.mytwodollars.com/?p=2095#comment-33229 I pay for jobs when I stare at a project for more than 10 minutes and still have a puzzled Homer Simpson look. Norm and the 'This Old House' crew make it look easy, but so does Tiger Woods when he tees it up. So if a weekend hacker like me spends a third of his time in the sand and another third in the rough, you can bet I'm calling a pro when I'm over my head. Taxes, pruning tall trees, plumbing, or anything else that costs me cash -- or body parts -- are always outsourced. I pay for jobs when I stare at a project for more than 10 minutes and still have a puzzled Homer Simpson look.

Norm and the ‘This Old House’ crew make it look easy, but so does Tiger Woods when he tees it up. So if a weekend hacker like me spends a third of his time in the sand and another third in the rough, you can bet I’m calling a pro when I’m over my head.

Taxes, pruning tall trees, plumbing, or anything else that costs me cash — or body parts — are always outsourced.

]]> By: JoeTaxpayerhttp://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/#comment-33228 JoeTaxpayer Thu, 18 Jun 2009 04:53:55 +0000 http://www.mytwodollars.com/?p=2095#comment-33228 I am the opposite of Abby's husband. I had my 6 yr old daughter change a broken dimmer. I touched nothing, just pointed, and told her what to do. Of course the first step was to flip the breaker. I don't mow the lawn, but I did build the pantry, a 6' x 10' room full of shelves and cabinets. Saved over $10K and bought a 'Norm' level table saw. I pick and choose to do what I enjoy, and sub out what I don't. I am the opposite of Abby’s husband.

I had my 6 yr old daughter change a broken dimmer. I touched nothing, just pointed, and told her what to do. Of course the first step was to flip the breaker.

I don’t mow the lawn, but I did build the pantry, a 6′ x 10′ room full of shelves and cabinets. Saved over $10K and bought a ‘Norm’ level table saw. I pick and choose to do what I enjoy, and sub out what I don’t.

]]> By: mapgirlhttp://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/#comment-33224 mapgirl Wed, 17 Jun 2009 22:03:58 +0000 http://www.mytwodollars.com/?p=2095#comment-33224 Movers - they are bonded and insured. My friends are not. Too many guy friends have thrown out their backs helping friends move. Not worth the pizza and beer there. Drywall - I agree with Sam. Mudding is best left to professionals. Tailors - If I don't have the time, it makes all the difference to send my pants in to be shortened. Movers – they are bonded and insured. My friends are not. Too many guy friends have thrown out their backs helping friends move. Not worth the pizza and beer there.

Drywall – I agree with Sam. Mudding is best left to professionals.

Tailors – If I don’t have the time, it makes all the difference to send my pants in to be shortened.

]]> By: Enrique Shttp://www.mytwodollars.com/2009/06/17/when-spending-the-money-is-worth-the-cost/#comment-33223 Enrique S Wed, 17 Jun 2009 18:24:26 +0000 http://www.mytwodollars.com/?p=2095#comment-33223 I try to do as much as I can by myself, as I've had mixed results with contractors. I mow the lawn, I've built several decks, done some electrical work, finished a basement, laid carpet, re-tiled a bathroom, shingled a roof, installed a stockade fence, changed the oil on my car, replaced the brakes, and I could go on. I'm a beancounter by day, and a jack-of-all-trades on the weekends. I try to do as much as I can by myself, as I’ve had mixed results with contractors. I mow the lawn, I’ve built several decks, done some electrical work, finished a basement, laid carpet, re-tiled a bathroom, shingled a roof, installed a stockade fence, changed the oil on my car, replaced the brakes, and I could go on. I’m a beancounter by day, and a jack-of-all-trades on the weekends.

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