Get The Most Out Of Your Time - Deepstash

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Calculating the Value of Time: How Much is Your Time Really Worth?

Get The Most Out Of Your Time

It starts with knowing what your time is worth. For instance:

  • People who spend their time doing more profitable work make more money. 
  • People who spend their time investing in others build better relationships. 
  • People who spend their time creating a flexible career enjoy more freedom. 

Understand that there will be tradeoffs, but that it can be managed.

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EXPLORE MORE AROUND THESE TOPICS:

SIMILAR ARTICLES & IDEAS:

Net Worth = Assets - Liabilities

Your net worth gives an overview of your financial situation at this point. It is the difference between what you own and what you owe.

Your net worth is positive if your assets exceed...

Calculating your assets and liabilities

Assets are anything of value that you own that can be converted into cash. Examples include:

  • Investments
  • Bank and brokerage accounts
  • Retirement funds
  • Real estate
  • Personal property: vehicles, jewellery and collectables.
  • Cash

Your liabilities represent your debts, such as loans, mortgages, credit card debt, medical bills and student loans.

Find your ideal

Determine your target net worth - where you want to be in the near-term and long-term future.

The following formula is helpful:

Target Net Worth=[Your Age−25]∗[1/5∗Gross Annual Income]

A 50-year-old with a gross annual income of $75,000 might aim for a net worth of $375,000 ([50 - 25 = 25] x [$75,000 ÷ 5 = $15,000])
Your net worth can be much more or much less than the amount indicated by the guideline.

Boosting your savings
Boosting your savings

While frugality is undoubtedly important in personal finance, boosting your savings can also be done by earning more money.

Whether you're self-employed or working for somebody else...

The More You Learn, the More You Earn

Your education has a greater impact on your earnings than other influences such as age, race, gender, and location. According to the U.S. Bureau of Labor Statistics, the average college graduate earns twice as much as someone whose education ended with high school.

If you can't commit to college, you can still improve your knowledge and skills with self-directed life-long learning. The best time to pursue education is at the start of your career. The next best time is now.

Work More. Work Better

Your pay is also based on the quality and quantity of your work. If you've been making forty sales calls each week, find a way to do fifty.

The quickest way to boost your income is to increase the number of hours you work. It can be done by working full-time, working overtime, or finding a second job.

Investing defined

Investing is about laying out cash or assets now, in the hope of more cash or assets returning to you tomorrow, or next year, or next decade.

Most of the time, this is best achieved th...

Productive assets explained
  • Productive assets are investments that internally throw off surplus money from some sort of activity. 
  • Each type of productive asset has its own pros and cons, unique quirks, legal traditions, tax rules, and other relevant details.
  • The three most common kinds of investments from productive assets are stocks, bonds, and real estate.
Investing in Stocks
  • It means investing in common stock, which is another way to describe business ownership or business equity.
  • When you own equity (the value of the shares issued by a company) in a business, you are entitled to a share of the profit or losses generated by that company's operating activity.
  • Equities are the most rewarding asset class for investors seeking to build wealth over time without using large amounts of leverage.