Comments on: How Much Is Your Time REALLY Worth? http://weakonomics.com/2009/08/27/how-much-is-your-time-really-worth/ Everything That's Wrong With You And Your Money Wed, 23 May 2012 01:09:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: How Much Is Your Time Worth? « Eliminate The Muda! http://weakonomics.com/2009/08/27/how-much-is-your-time-really-worth/comment-page-1/#comment-2973 How Much Is Your Time Worth? « Eliminate The Muda! Mon, 14 Sep 2009 00:39:06 +0000 http://weakonomics.com/?p=2895#comment-2973 [...] The Weakonomist recently shared his opinion: You don’t actually make $30/hour. It’s not even close to that in fact. You make $30 for every hour you work, but you only work 40 hours a week. There are 168 hours in a week. So you actually make about $7.14/hour. That’s $7.14 for every hour of every day. $7.14 for sleep, for time with the kids, for watching TV, and doing chores. [...] [...] The Weakonomist recently shared his opinion: You don’t actually make $30/hour. It’s not even close to that in fact. You make $30 for every hour you work, but you only work 40 hours a week. There are 168 hours in a week. So you actually make about $7.14/hour. That’s $7.14 for every hour of every day. $7.14 for sleep, for time with the kids, for watching TV, and doing chores. [...]

]]> By: Carnivals and Links, Week of August 31 – Don’t Quit Your Day Job http://weakonomics.com/2009/08/27/how-much-is-your-time-really-worth/comment-page-1/#comment-2901 Carnivals and Links, Week of August 31 – Don’t Quit Your Day Job Mon, 31 Aug 2009 15:36:37 +0000 http://weakonomics.com/?p=2895#comment-2901 [...] “How Much is Your Time REALLY Worth?” – Another post on the value of your time to pound the point home.  It’s true, some of what you do you can’t avoid easily… you need to know your true hourly wage (which he calculates based on the 168 hour week).  The Weakonomist makes his case. [...] [...] “How Much is Your Time REALLY Worth?” – Another post on the value of your time to pound the point home.  It’s true, some of what you do you can’t avoid easily… you need to know your true hourly wage (which he calculates based on the 168 hour week).  The Weakonomist makes his case. [...]

]]> By: Weekend Reading – Market Just Won’t Stop Edition | HighYields.com http://weakonomics.com/2009/08/27/how-much-is-your-time-really-worth/comment-page-1/#comment-2893 Weekend Reading – Market Just Won’t Stop Edition | HighYields.com Sat, 29 Aug 2009 04:20:58 +0000 http://weakonomics.com/?p=2895#comment-2893 [...] What is your time really worth? That’s a good question.  Weakonomics takes on some of the common methods that people value their time and justify their expenditures. [...] [...] What is your time really worth? That’s a good question.  Weakonomics takes on some of the common methods that people value their time and justify their expenditures. [...]

]]> By: Weekend Reading – Market Just Won’t Stop Edition | Darwin's Finance http://weakonomics.com/2009/08/27/how-much-is-your-time-really-worth/comment-page-1/#comment-2892 Weekend Reading – Market Just Won’t Stop Edition | Darwin's Finance Sat, 29 Aug 2009 04:06:04 +0000 http://weakonomics.com/?p=2895#comment-2892 [...] What is your time really worth? That’s a good question.  Weakonomics takes on some of the common methods that people value their time and justify their expenditures. [...] [...] What is your time really worth? That’s a good question.  Weakonomics takes on some of the common methods that people value their time and justify their expenditures. [...]

]]> By: 5 Things You Should Read | The Personal Finance Playbook http://weakonomics.com/2009/08/27/how-much-is-your-time-really-worth/comment-page-1/#comment-2890 5 Things You Should Read | The Personal Finance Playbook Fri, 28 Aug 2009 21:43:09 +0000 http://weakonomics.com/?p=2895#comment-2890 [...]  How Much is Your Time Really Worth @ Weakonomics – This is a good post about how to decide whether to hire someone.  I especially like that [...] [...]  How Much is Your Time Really Worth @ Weakonomics – This is a good post about how to decide whether to hire someone.  I especially like that [...]

]]> By: Darwin's Finance http://weakonomics.com/2009/08/27/how-much-is-your-time-really-worth/comment-page-1/#comment-2885 Darwin's Finance Thu, 27 Aug 2009 17:09:26 +0000 http://weakonomics.com/?p=2895#comment-2885 There's no clear answer for when it makes sense to outsource and when it doesn't. There's a strong correlation (IMO) with overall financial behaviors. Some people we associate with that are in debt and complain about money, high taxes, how they got screwed, etc. pay housecleaners (in a house with a stay at home parent!), pay to have their lawns mowed and pay for routine home maintenance and repair like painting and powerwashing. It also comes down to "what do you hate to do"? While I don't mind mowing my lawn, I don't change my own oil. I'm sure I could learn the process in an hour and do it myself, saving say, $15 over what I pay at Jiffy Lube. My father used to change the oil. I just don't think it's worth my time, getting dirty, disposal issues, etc. over $15. It's good that you point out that people don't assess what their time is worth either. They also don't consider that they're paying for most of these services with AFTER-TAX dollars. And even the ones that "write it off" because they have a "home office" (sure), they boast that they write off housecleaning or whatever for the business, but it's only like a 2.5% discount. 10% home space, 25% tax bracket. Is it really worth paying for something you could/should do yourself for 2.5% off? Well, if you really hate to clean, I guess it is. .-= Darwin's Finance´s last blog ..<a href="http://feedproxy.google.com/~r/DarwinsFinance/~3/O6oJpXuxB0M/" rel="nofollow">Corporate Pension Plan Shortfall – The Next Crisis?</a> =-. There’s no clear answer for when it makes sense to outsource and when it doesn’t. There’s a strong correlation (IMO) with overall financial behaviors. Some people we associate with that are in debt and complain about money, high taxes, how they got screwed, etc. pay housecleaners (in a house with a stay at home parent!), pay to have their lawns mowed and pay for routine home maintenance and repair like painting and powerwashing.

It also comes down to “what do you hate to do”? While I don’t mind mowing my lawn, I don’t change my own oil. I’m sure I could learn the process in an hour and do it myself, saving say, $15 over what I pay at Jiffy Lube. My father used to change the oil. I just don’t think it’s worth my time, getting dirty, disposal issues, etc. over $15.

It’s good that you point out that people don’t assess what their time is worth either. They also don’t consider that they’re paying for most of these services with AFTER-TAX dollars. And even the ones that “write it off” because they have a “home office” (sure), they boast that they write off housecleaning or whatever for the business, but it’s only like a 2.5% discount. 10% home space, 25% tax bracket. Is it really worth paying for something you could/should do yourself for 2.5% off? Well, if you really hate to clean, I guess it is.
.-= Darwin’s Finance´s last blog ..Corporate Pension Plan Shortfall – The Next Crisis? =-.

]]> By: Rob Bennett http://weakonomics.com/2009/08/27/how-much-is-your-time-really-worth/comment-page-1/#comment-2884 Rob Bennett Thu, 27 Aug 2009 14:43:15 +0000 http://weakonomics.com/?p=2895#comment-2884 The reality is that most of the money that has come into your life has come in as the result of a few key moments in which you made your best decisions. Choosing the right school or the right career or the right spouse can increase your wealth by hundreds of thousands. To make better calls at those Magic Moments, you need to build in time for just thinking things over. "Think It Over" time can be the most financially rewarding time of all. Rob .-= Rob Bennett´s last blog ..<a href="http://arichlife.passionsaving.com/2009/08/27/it-appears-that-i-inadvertently-stumbled-into-the-middle-of-a-religious-war/" rel="nofollow">“It Appears That I Inadvertently Stumbled Into the Middle of a Religious War”</a> =-. The reality is that most of the money that has come into your life has come in as the result of a few key moments in which you made your best decisions. Choosing the right school or the right career or the right spouse can increase your wealth by hundreds of thousands.

To make better calls at those Magic Moments, you need to build in time for just thinking things over. “Think It Over” time can be the most financially rewarding time of all.

Rob
.-= Rob Bennett´s last blog ..“It Appears That I Inadvertently Stumbled Into the Middle of a Religious War” =-.

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