2 Engineers, 1 website.

 

Financial Jiu Jitsu will teach you how to gain leverage in the real world, step by step, until you are confident you no longer need more.

Saving money with a time sink

Saving money with a time sink

Bathroom faucet has been dripping for weeks. Finally I have a weekend without anybody bugging me to take a look at it. Step 1: Take the faucet apart.

Well what have we here?

Well what have we here?

Step 2: try to figure out which part is leaking slowly. It probably this valve looking thing:

probably

probably

Step 3: go to town and buy one for 10$. Install it. 

Step 4: Faucet still drips, so take it apart and put it back together 5 times to make sure you did it right. Also swap the old valve in there a couple of them to make sure it still doesn't work. 

Step 5: Give up.

Step 6: Stop by Home Depot and buy another valve of the same type which looks identical but is from a different manufacturer for 8$.

Step 7: Take the sink apart again and install the new valve. It still doesn't quite stop the leak. 

Step 8: ram a bunch of romex yellow exterior plastic in the retaining nut so that it applies more pressure to the seat of the valve when it's closed. This will make it so that the handle is difficult and annoying to turn. 

Step 9: Success!

So from a financial perspective here were the 3 options I was choosing from before I embarked on this fix:

  1. I could have called a plumber. Likely he would have been able to fix it in an hour at about 120$ an hour. I would have had to take time off work to meet him there lets say 2 hours of work. This would have also required me to wait two weeks and schedule with him (or her, it is 2017 after all.) 
  2. I could have replaced the entire faucet/fixture assembly. I would have had to do both fixtures so they matched because this is a dual vanity setup. After pricing things out I could have got 2 decent faucet assemblies for about 80$ and installed them in about 2-3 hours depending on how many of the hoses needed to be replaced in the process. Those under sink hoses really don't like to be re-used so I didn't want to go this route. 
  3. Try to fix the valve. See above explanation of how this panned out.  

So yeah I would like to think I saved about 100$ by doing it myself compared to hiring a plumber. Make this kind of thing a habit and you will be saving quite a bit of money over the course of your life. 

Time sink get it?

Time sink get it?

How much do you need to save to retire? Check the risk free ROR

How much do you need to save to retire? Check the risk free ROR

How much does it cost to get shredded? We tell you right here

How much does it cost to get shredded? We tell you right here