Most things that people skimp on are because it takes too much time to do it the better way. Food is a good example. Most store bought, or boxed food is gross but people eat it because it takes less time than preparing a real meal. Pumpkin pie, dinner rolls, and spaghetti sauce are a few examples that come to mind. Each one of those is SOOO much better home made.
Also, time with your kids and family. I see a lot of people unwilling to go to, or participate in, certain activities because it just takes up too much time. To me, it's worth it.
Without contradicting myself too much on time with family, I would say time spent on church callings and other volunteer things. The new emphasis the church has on reducing the time spent in meaningless meetings is good. However, if you have committed to do something, DO IT. Put in enough time to do it right. If you don't have that time enlist help or figure out a way to get it done so those depending on you aren't left hanging.
My exception to this is my job. Unless there is a really good reason I will not work more than 40 hours at my job. A few long days at quarter end or something like that is ok, but I will never work a job that requires 50+ hours a week on a regular basis. It's just not worth it to me.