The Value of Your Time
Divide your total money earned by your total time spent.
For example, let’s say you spend 2,500 hours per year earning money:
- If you make $46,226/year, your time is worth $18.49/hour. This is the 2014 median income for women in the United States.
- If you make $62,455/year, your time is worth $24.98/hour. This is the 2014 median income for men in the United States.
If you are surprised by the numbers, remember that we rarely calculate how much time goes into earning money outside of the working hours.
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Calculating the Value of Time: How Much is Your Time Really Worth?
lifehacker.com
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·7.73K reads
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"Many people are in the dark when it comes to money, and I'm going to turn on the lights. " ~ Suze Orman
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Measure the total amount of time you invest each year to earn money. It includes the time you spend to commute to and from work, and time spent working on a side hustle or dropping your kids at daycare.
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Use the Realized Income Methods to calculate the value of your time. It is based on the income you received and will help you make better decisions on how to spend money day-by-day. You need two numbers for your calculations.
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