Most people think this way, and it's a very common misunderstanding.
Over the past few years, I've become very good friends with a number of highly successful people. And one of the most valuable lessons I've learned from them is that, generally speaking, wealthy people pay very close attention to the value of their time.
They see it like this:
Let's say you make an average of $25 per hour while you are working at your job, or if you are an entrepreneur, working on your business. That means your time is worth $25 per hour.
If you spend 1 hour this evening doing your laundry when you could have hired someone else to do it for $10 per hour, then you are literally saying:
"I would rather do my laundry and make nothing than let someone else do my laundry and make $15." (the $25 you would have earned in that amount of time, minus the $10 you would have paid someone to do your laundry).
You are also saying, "My leisure time isn't even worth $10 per hour to me."
If you think about it, it makes a lot of sense.
My business coach once said to me, "Jesse, some of my friends think I'm lazy because I hire someone to put up my Christmas lights every year. But I'm not lazy. When I pay $100 to have my lights put up, what I'm really paying for is an evening to relax in the living room with my kids. To me, it's worth it."
A different perspective, huh?
Unfortunately, most people don't think this way.
They say, "I'd love to hire someone to do my laundry, but I don't have that kind of money yet."
Has it ever occured to you that perhaps the REASON you don't have that kind of money yet is that you're still spending your valuable time on tasks that are worth only $10 per hour?
The poor and middle class are willing to sacrifice hours of every day doing menial tasks just to save a few bucks, when that time could have been used working toward their goals (a higher profit-per-hour), or enjoying the more important things in life.
Hmm. ;)
Anyway, my main reason for writing you today was to show how you CAN hire someone to do your laundry, dishes, or other housework for even LESS than $10 per hour.
I've been moving around a lot lately, so I'm temporarily doing my own laundry and dishes. But last year, I hired someone to completely take over all the laundry and the kitchen at my apartment.
And wow.
Can I tell you how nice it was to come home every day and find my clothes clean and neatly folded in my drawers, my closet thoughtfully organized, and my kitchen sink sparkling clean?
Ahh! It was awesome.
It took so much pressure off my shoulders since I always tended to procrastinate these tasks before, and it gave me more time to relax (really relax) and hang out with my favorite people in the evenings.
Best of all, it only cost me about $8 per hour.
How did I do it?
Most people don't realize what an incredible resource a local university can be. If you've read my post on getting a personal trainer, you already know about one exciting way to utilize the services of college students.
This is another one that works incredibly well.
Generally speaking, college students want and need money!
And they aren't looking for thousands.
I personally know probably a dozen responsible college students who would agree in a heartbeat to do housework for $8-10 per hour, because in most cases they are just looking for some extra weekend spending money for dining out, movies, beer, etc.
How To Do It
1) Decide exactly which tasks you need done, and make a quick and simple checklist. If you're particular about HOW a certain task is done, be sure to explain that on the list as well. If you like your jeans hung in your closet instead of folded in your dresser, write it down. If you want your coffee cups placed in the very front of your cupboard so you can reach them better, write it down.
2) Get the word out. Print up bright yellow flyers with bold, black letters that will grab attention and explain your offer. Post an advertisement in the college classifieds (most likely online). Use the local Craigslist. Do whatever you can to attract interested candidates.
3) Interview! Sure, it's a menial job. But an interview is still absolutely necessary. It will help you get a feel for each candidate and determine which one is most likely to be trustworthy, organized, and hard-working. Firing someone sucks, so do everything you can to find the right person from the start.
Bonus Tip: When hiring someone to help with housework, it will be tempting to just hire a friend or a college kid you already know and like. But be careful. Never hire someone without first asking yourself, "If I hire this person and it doesn't feel like it's working out for whatever reason, would I be able to fire him/her without possibly damaging a relationship that's important to me?" If the answer is no, then hiring that person is a no-go. Period.
And that's it folks.
If you decide to take action on the ideas in this article, or you already have a story about outsourcing your housework that you would like to share, we would love to hear about it! Just drop us a note in the "comments" section below.
Thanks for stopping by...and remember:
You don't have to wait 'till you're a millionaire to live the good life. ;)
Love and best wishes,
Jesse
P.S. Happy 09/09/09!
[Jesse Lear is the founder of Millionaire Lifehack, a unique blog that demonstrates how any responsible person can live like a millionaire, without having millions of dollars in the bank! If you have thoughts or an opinion on this post, be sure to leave your comment below. For private comments or questions, send email to millionairelifehack@gmail.com. These ideas are only for entertainment and MLH is not responsible for anything that may happen as a result of their use.]