The Expected Value Method
- Break your time out by task.
- Find a unit of measurement that connects the tasks you work on with the income you earn.
- Estimate the expected value of each task.
- Add all the expected values together to calculate the total expected value of your time.
- Add extra variables as desired, like how much happiness a particular task brings to your life.
This method is highly individualized.
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Calculating the Value of Time: How Much is Your Time Really Worth?
lifehacker.com
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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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The Real Worth Of Your Time
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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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:
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The Growth Multiple Method
This method calculates how your work of today will pay off long term, but does not tell you how to use your time more effectively. It works on the assumption that your actions from this year will continue to drive growth over the next 12 months, so the real value of your time is high...
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