Time Equals Money

time-is-money-1050857_1920.jpg“How do you have the patience to thrift?” That’s one of the most frequent questions I’m asked when people find out that nearly my whole closet is thrifted. It’s a legitimate question: It takes time to sift through racks of unsorted (and sometimes unfashionable) clothes to find something that looks nice and fits.

My resolve to start thrifting started around this time several years ago. I work at an academic institution, so once May hits, my schedule dies down and I enjoy more leisure time. The downside is that I make less money.

About three years ago, I was thinking about a way to make extra money during the summer, and frankly, I didn’t want to get a summer job. I was exhausted and tired from a hectic year, but I knew I also needed a way to have more funds, especially if I wanted to travel.

We’ve all heard that “Time is Money.” In other words, the more time we have, the more money we can make. In theory, I could have used my extra time to get a summer job and, in turn, generate more money.  But I instead began thinking about ways I could use my time to save money. Because a penny saved is a penny earned, to quote Benjamin Franklin.

So I began thrifting. Thrifting takes time, and it requires a lot of patience. But knowing that my time was being used to earn money through saving money was a big motivator. Essentially, thrifting became  my “summer job” that year.  Three years later, I’ve “earned” thousands of dollars with my extra time because of the money I never spent. I’ve used this money to pay off debt, save for the future, and travel.

How did you start thrifting and for what have you used your extra money? I’d love to hear your story.