Have you ever Dollarized Your Time?
Everyday we all end up waiting … waiting … waiting… so have you thought about what this wasted time is costing you in personal and professional productivity? Better than that, how about $$$$!
If you just stop and take a minute to figure out the amount of wasted time you spend waiting that accumulates during your typical day you might be shocked. Let’s be conservative but realistic, the easiest way to do this is take along a little notepad and just record you time in lines, car trips, breaks, lunch talking on the phone, you name it. Here are the steps to calculate the money you potentially loose due to wasted time.
Step 1. Decide how much 1 hour of your time is worth. Maybe you think it is what you are paid by someone at work; $10, $20, $ 100? I suggest to begin with keep this simple and figure out your hourly wage against you current paycheck.
Step 2. Figure up the number of wasted minutes per 24 hrs, yes include sleep.
Example: Time wasted
- 2 hrs driving to and from work (listening to music not being productive)
- 45 minutes waiting in lines
- 2 hours watching TV (morning news and news at night)
- 1 hour on the phone to home
Total without trying = 5 hours and 45 minutes
My time = $35/hr
5.75 x 35 = $201.25!! * Hourly wage (x) Hours wasted = Wasted money $/24hrs (day)
Incredible! Ok, where did the money go or where will it come from if I get back my 5.75 hours? This is a great question in which you need to things figure out. What am I telling you this for?
If you are happy with a single source of income or your current life as it is, do nothing.
If you are not satisfied, you can spend this time trying to stat an online e business, create a product to sell, get healthier, take self improvement courses, learn another language, read a book, learn yoga to relax … maybe you need some down time improving yourself, just do not waste it!
Look at my example; 2 hours a day I n the car, what if I got some CDs to listen to on improving my vocabulary, or how to make money on the internet (I did this), lean a foreign language series, that is productive! 2 Hours watching TV, zero productivity, why not formulate a plan to seek out a 2nd source of income?
Time is the only boundry during the day you have no control of. There are only 24 hrs in each and every day, however … you are the only person in charge of choosing how to spend those 24hrs being productive or wasted, it is within your control!
If you just stop and take a minute to figure out the amount of wasted time you spend waiting that accumulates during your typical day you might be shocked. Let’s be conservative but realistic, the easiest way to do this is take along a little notepad and just record you time in lines, car trips, breaks, lunch talking on the phone, you name it. Here are the steps to calculate the money you potentially loose due to wasted time.
Step 1. Decide how much 1 hour of your time is worth. Maybe you think it is what you are paid by someone at work; $10, $20, $ 100? I suggest to begin with keep this simple and figure out your hourly wage against you current paycheck.
Step 2. Figure up the number of wasted minutes per 24 hrs, yes include sleep.
Example: Time wasted
- 2 hrs driving to and from work (listening to music not being productive)
- 45 minutes waiting in lines
- 2 hours watching TV (morning news and news at night)
- 1 hour on the phone to home
Total without trying = 5 hours and 45 minutes
My time = $35/hr
5.75 x 35 = $201.25!! * Hourly wage (x) Hours wasted = Wasted money $/24hrs (day)
Incredible! Ok, where did the money go or where will it come from if I get back my 5.75 hours? This is a great question in which you need to things figure out. What am I telling you this for?
If you are happy with a single source of income or your current life as it is, do nothing.
If you are not satisfied, you can spend this time trying to stat an online e business, create a product to sell, get healthier, take self improvement courses, learn another language, read a book, learn yoga to relax … maybe you need some down time improving yourself, just do not waste it!
Look at my example; 2 hours a day I n the car, what if I got some CDs to listen to on improving my vocabulary, or how to make money on the internet (I did this), lean a foreign language series, that is productive! 2 Hours watching TV, zero productivity, why not formulate a plan to seek out a 2nd source of income?
Time is the only boundry during the day you have no control of. There are only 24 hrs in each and every day, however … you are the only person in charge of choosing how to spend those 24hrs being productive or wasted, it is within your control!
posted by Kent Jacobson, a.k.a. "Mr. Success" at 12:07 PM
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