In today's high-cost-of-living, wages-haven't-caught-up economy, finding ways to stretch your paycheck feels more important than ever. Some people are taking on second and third jobs, trying to figure out lucrative side hustles, moving to places with more affordable living expenses and making other big life changes to try to get ahead.But you don't necessarily have to make big sweeping changes to your life to find extra cash. The phrases "Time is money" and "A penny saved is a penny earned" may sound like lip service sayings, but what if you took them literally? What if, instead of assume that saving a few cents here or a couple of bucks there isn't really significant enough to think about in the big picture, you calculated opportunities to save money in terms of an hourly wage? Saving $1.50 on gas might seem like a minimal savings, but the hourly wage might change your mind.Photo credit: CanvaHere's what that means: Let's say your closest gas station has gas for $3.75/gallon, but the one a few blocks down the road has it for $3.65/gallon. If you got 15 gallons of gas, you'd save $1.50 driving two minutes out of your way to get gas at the second station—is that even worth it? Yes it is, when you calculate that $1.50 in terms of an hourly wage you're paying yourself. For two minutes of your time, you've essentially "made" $1.50. When you translate that into an hourly wage, you've just paid yourself the equivalent of $45/hr—basically what someone making $90K a year makes. "The Complete Tightwad Gazette" by Amy Dacyczyn m.media-amazon.com The hourly wage idea comes from a money-saving, frugal-living tome called The Complete Tightwad Gazette by Amy Dacyczyn. The book is a compilation of Dacyczyn's long-standing Tightwad Gazette newsletters, which offered not only a whole array of thrifty habits but also valuable shifts in perspective on saving money. Dacyczyn's main example of the hourly wage calculation in the book was washing out Ziploc baggies to reuse instead of tossing and getting a new one each time. Even back in the 90s, she calculated that washing baggies yielded her $30/hr. But when you start thinking this way, you start to realize that there are tons of ways to make a good hourly wage in tiny increments. Washing a Ziploc bag might feel like a waste, but it's not when you calculate the hourly wage. Photo credit: CanvaHere are some examples:It may take time to make your lunch instead of eating out, but the savings can be significant. Let's say it takes 10 minutes to put together a lunch at home. A really great made-at-home lunch would cost only a few dollars, but let's go with the high end of $5 including a drink. It's easily $15 for a lunch and drink out at a restaurant, so the 10 minutes you spent saved you $10. Hourly wage for making your own lunch = $60/hr. How about taking the time to call your phone and Internet provider and negotiate a better price? Those people can keep you on the phone for a while, but let's say they gave you their spiel for a solid hour, and you only saved $20/month for the next year after that negotiation. Hourly wage for an hour of phone and internet negotiating = $240/hr (or more) Spending an hour negotiating on the phone to lower bills might be a lucrative hourly wage equivalent.Photo credit: CanvaCanceling a subscription takes almost no time at all, but is something we might put off because it feels like we're taking something away or depriving ourselves of something we want. But streaming service subscriptions alone are eating into people's budgets like nobody's business. Even if you cancel a subscription that's only $4.99 a month, the hourly wage you "make" by canceling it is huge. Assuming it takes one minute or less to log into your account and click a few buttons to cancel, the hourly wage for canceling a $5/month subscription = $600/hr. (And that's only accounting for the first month's savings. If you figure you just saved $60 over the course of a year, assuming you stay unsubscribed, and you've made $7,200/hr for that one minute of "work." Doesn't feel like deprivation now, does it?) Taking a minute to cancel a subscription? Huge hourly wage. Photo credit: CanvaOf course, not everything is worth the time it takes, so it's worth it to do the math. For instance, it might be worth it to wash your own car, or it might not be, depending on how long it takes you and how much you would normally spend on a car wash. And some people have far more time than money, so even a not-great hourly wage equivalent might still be worth it. But try doing the calculation next time you have an opportunity to save a little money, especially if the time investment is minimal, and see how much the hourly wage equivalent is. Not only do all those little savings add up over time, but you can see how valuable those small efforts really are.