Its a time valuation concept, and its actually not much.
I make an average of 65-450/hr per job that I do, and I have very steady work (IT security).
Cooking a full meal (1 meat, two vegetables, 1 bread) takes roughly 30-45 minutes.
Time valuation is 1 hr equals 1 hour of wages, with your total value equaling your time value times 168 hours in a week.
From a concept of cooking, if a spend 30 minutes a day cooking a meal, 3 times a day, I spend 1.5 hours per day, 10.5 hours per week.
At my rate, I'd spend over 650 dollars a week cooking, as compared to 30 per day ordering in. Ordering out pays for itself time wise.
Now if you don't value your time, its another story. I didn't just get married because I love my wife though. I saw added financial benefits, and her working wasn't the only one. *dodges rocks and spears*
I have to ask - do you REALLY work those additional 1.5 hours a day in lieu of cooking? Do you REALLY spend those additional 10.5 hours / week working, in lieu of cooking?
If so why do you bother to sleep? Using the $65 / hr you assign to cooking, the 8 hrs / day, 7 days a week, you're using up 56 hours out of your budget of 168 hours and "wasting" $3,600+ / week on sleep - just think how much cocaine and speed you could buy for $1,000....it would be profitable! The 10 minutes / day on the shower is costing you ~1.1 hours a week - a mere $70, not counting the cost to heat the water, the soap and shampoo, etc. Just think of what it's costing you with all the time you waste changing clothes instead of just wearing the same thing until it literally falls off your back!!!!! And OMG....those damn friends are costing you a boat load of cash every time you chat or hang out with them. And WTF are you doing here on MMM - in the time it took you to type your post, you could have made another $5. Sorry if this seems snarky, but I find the type of assertions you're making don't hold water UNLESS you are
actually giving up working hours to do the task that can be possibly outsourced - cooking, cleaning, yard work, auto maintenance, etc. (and yes, one can't outsource sleeping....note, its hyperbole for the sake of illustration).
Then there are the intangible costs of outsourcing versus insourcing: The food I cook at home is far, FAR healthier than commercially prepared food - they slather in salt, oil / fat, MSG and who the hell knows what else and serve oversized portions. At home, I have total control of what goes into the meal and make "just the right" amount. Another intangible of DIY - the satisfaction that comes from making it EXACTLY the way you like in every detail. Then there's the stress of working 70, 80, 90 hours a week....instead of a leisurely bit of time over the stove sipping a beer while dinner simmers.
In the long run....I'd call the outsourcing of the basics of life a false economy for most people since in fact, few people actually work the extra hours in lieu of taking care of these normal, every day tasks. But, for each their own.....
