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Most of us are willing to spend money to make our lives easier in one way or the other. We get takeout instead of cooking, hire someone to clean our house, or send our laundry to a service. Add to that the simplicity of doing it right from your phone, and it’s even more tempting. But how much do we end up paying for this convenience, and is the time and effort saved always worth the added cost? Some numbers to consider:• A $12 burrito can easily cost more than $20 once you factor in the service fee, delivery fee, tip, and the premium restaurants may charge for a menu item that’s being delivered.
• The average housecleaning costs $174, according to data from Angi.
• Laundry services can run $20 to $50 per load.
• It’s often $30 to $85 to get your lawn mowed.
• Dog groomers on Thumbtack charge $79 to $136 per session.
• An Instacart delivery can cost 30% to 50% more than going to the grocery store after the delivery fee, the service fee, and a 15%-20% tip, one analysis found.
• Basic car washes run $10 to $30, according to data from Yelp.
• The average trip with a rideshare service cost about $21 at the end of last year, according to Gridwise. On the other hand:
• The average meal at home costs $3 to $5 a person, government data shows. That’s less expensive than the tip and fees charged by some delivery apps. And cooking is healthier than eating takeout.
• Many conveniences have become less affordable. In the 2010s, digital startups made on-demand food delivery, car rides and other services cheap to get traction and grow their user base. But the “Millennial Lifestyle Subsidy,” as The New York Times technology columnist Kevin Roose termed it, ended when companies no longer needed bargain prices to attract customers.
• If you skipped a single $174 housecleaning a month, and instead put that money into a high-yield savings account earning a 3.80% APY (we like SoFi’s), after five years, you’d have amassed over $11,400 — including more than $1,000 in interest. (Based on monthly deposits of $174 for five years at 3.80% APY with no additional withdrawals, compounded monthly.) So what? No one’s suggesting swearing off convenience. Paying someone to put together a desk could be well worth the $150, for example. But it’s also worthwhile to examine the premium you’re paying to save time, especially in this uncertain economy. Plus, doing things yourself has other benefits. You could get the chance to practice a skill, talk with a stranger, or get some exercise — all of which can improve your life in ways that money can’t measure.
Related Reading
• Exploring America’s Appetite for Food Delivery Apps (YouGov)
• I Started Using the "1-Minute Rule" — and Now I Spend Way Less Time Cleaning (Real Simple)
• 20 Life Skills That Can Help You Save Money (SoFi)
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