How Much is Your Time Worth?
YOU should figure out what your time is worth! It will help you to put in perspective how your time is spent.
If you know what your time is worth you can then decide whether or not if it is to your benefit to do the task yourself or pay some one ELSE to do it.
Now, I know this may be something most people do not pay too much attention to, but when you have to figure out a dollar figure for what a minute of your time is worth this is how you do it.
Step 1 First, write down how much you made at your job for the past year (excluding any money made on investments).
All you are going to consider is the pay you received for the work that you did in the past 52 weeks.
Step 2 Next, you will want to subtract from it everything that you spent in that 12 month period because of your job.
Think about all the money you would saved from gas, lunch, etc.
Step 3 Furthermore, you will want to figure out how many hours you devoted to that job in a 12 month period.
For example, you may have worked 40 hours a week for 48 weeks, but you also need to take in consideration the time you spent driving to and from work, overtime, holiday parties, etc.
Step 4 Lastly, you will take your "real" wages and divide it by the amount of "real" hours you worked.
The answer you get is what your time is worth right now based on what you do for a living.
How is this number relevant to me you might ask? Well, this number you just figured out will tell you whether or not that job you have, which you probably don't enjoy, is worth it.
Furthermore, it should allow you to realize if you are really being paid for your abilities or just for your presence.
Lastly, it gives you the ability to figure if the task at hand is worth doing or outsourcing it to someone else.
FREE UP TIME WHILE STILL GENERATING INCOME!!! THIS IS NOT HARD, BUT IS NOT EASY.
Jonathan Cottle "Helping people, Help themselves" www.
pathtofreedomandriches.
com [http://www.
pathtofreedomandriches.
com]
If you know what your time is worth you can then decide whether or not if it is to your benefit to do the task yourself or pay some one ELSE to do it.
Now, I know this may be something most people do not pay too much attention to, but when you have to figure out a dollar figure for what a minute of your time is worth this is how you do it.
Step 1 First, write down how much you made at your job for the past year (excluding any money made on investments).
All you are going to consider is the pay you received for the work that you did in the past 52 weeks.
Step 2 Next, you will want to subtract from it everything that you spent in that 12 month period because of your job.
Think about all the money you would saved from gas, lunch, etc.
Step 3 Furthermore, you will want to figure out how many hours you devoted to that job in a 12 month period.
For example, you may have worked 40 hours a week for 48 weeks, but you also need to take in consideration the time you spent driving to and from work, overtime, holiday parties, etc.
Step 4 Lastly, you will take your "real" wages and divide it by the amount of "real" hours you worked.
The answer you get is what your time is worth right now based on what you do for a living.
How is this number relevant to me you might ask? Well, this number you just figured out will tell you whether or not that job you have, which you probably don't enjoy, is worth it.
Furthermore, it should allow you to realize if you are really being paid for your abilities or just for your presence.
Lastly, it gives you the ability to figure if the task at hand is worth doing or outsourcing it to someone else.
FREE UP TIME WHILE STILL GENERATING INCOME!!! THIS IS NOT HARD, BUT IS NOT EASY.
Jonathan Cottle "Helping people, Help themselves" www.
pathtofreedomandriches.
com [http://www.
pathtofreedomandriches.
com]
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