Do You Really Save When You Do It Yourself?

March 23, 2013

Save money with DiY projectsIt’s a big question when you are faced with whether to do something yourself or have it done by someone else. Even beyond being good with your hands, there are times that you can do projects yourself and save money or spend a lot more (once you have added the cost of your time into the equation). The Equifax finance gurus explain in the recent article, “DIY: Make It or Buy It—How to Decide.”

For instance, you can spend a lot on specialized tools or ingredients you don’t normally stock before a project. This becomes a direct cost to the project if it’s not something you’ll be using a lot, in which case the cost would be spread out over multiple uses. The time required to find the right tools for the job also has a cost, as does the amount of time you invest in the project – which might be influenced by how much you enjoy the project or work. Finally, a good question to ask before you start the project is if the overall cost of materials plus cost of your time will end up being cheaper or more expensive than just purchasing it or paying a professional to do the job.

Understanding the total costs for things can lead to you making smarter financial decisions, and the Equifax experts have more wisdom and services, from

credit ratings to investing and more. Be sure to Like Equifax on Facebook!

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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