Putting a Value on Your Time
In This Chapter
- Understanding that everyone has an hourly rate
- Calculating the value of your time
- Getting more out of the time you have
Depending on your values, different kinds of numbers may be important to you: To some, it's cholesterol count and blood pressure figures; to others, it's the number of years they've been married. To many, the sum total in the retirement account is the number-one number, and some people zero in on the amount left on their mortgage.
But I contend that your per-hour worth should be among the top-of-mind numbers that are important to you — no matter what your values or priorities are — even if you don't earn your living on a per-hour rate. Knowing the value of your time enables you to make wise decisions about where and how you spend it so you can make the most of this limited resource according to your circumstances, goals, and interests.
Obviously, the higher you raise your per-hour worth while upholding your priorities, the more you can propel your efforts toward meeting your goals, because you have more resources at your disposal — you have either more money or more time, whichever you need most.
In this chapter, I guide you toward optimizing your value so you can reap the rewards and attain what's most important to you. I start by showing you why your hourly value is crucial to effective time management. From there, I help you calculate the overall value of your time based on your employment income. (If ...