Happy New Month, September 2018 is here for you, of which value of time is our theme this month.
Value Of Time
Time is money, as a lot of us know.
Around the world, the use of time is unequal, and this basic reality could make a significant difference in our lives.
The most money is made by those who utilise their time very well.
Also, individuals who spend their time investing and developing others tend to form better relationships.
Those who are more likely to impact the society spend their time working and executing high-profile projects.
The value you place on your time will greatly determine how much freedom, friendship, wealth, as well as influence you get.
Knowing how to manage your time will be critical to how much you’ll be able to achieve.
Time is very precious.
What Does An Hour Mean To You?
A useful illustration to explain this is.
If I want to get a bag, I have two alternatives.
One of them is to search for that particular bag online.
However, the issue is I’ll have to pay an extra cost to ship it down to my physical location.
The other alternative I have is to go to a retail store and get the bag for a lesser fee than I’m being charged online.
The downside of looking for a retail store that sells this bag is that I will spend more time looking for that particular store than I will searching on the net.
You need to ask yourself, is all that time I’ll use in searching for those retail store worth the extra money I’ll be for shipping the bag?
Or should I just pay the extra cost and save time?
Time versus Money
A lot of people place different values on how much their time is worth.
For instance, if an individual is offered $0.8 per hour of work, that individual may probably refuse the offer.
On the other hand, he or she will grab the offer with both hands if the pay is $3000 per hour.
It is very easy to know if a job is worth your time if you’re at the extreme end of the spectrum.
As you move towards the middle of the spectrum, it becomes a little complicated.
It is common knowledge that the gray zone is where most of life is lived.
One of the choices we make every day is should you purchase the nonstop flight and thus save some valuable time, or you save some money but book a flight with few stopovers?
How Do You Calculate The Worth Of Your Time?
There are several ways to calculate the worth of your time.
One of them includes the realised income method.
This calculation is dependent on just the income an individual has received or realised.
You’ll need two parameters to calculate the worth of your time using this method effectively.
One of them is the amount of time you spend to earn money, as well as the total amount of money you’ve earned during that duration of time.
Wrapping It Up
Although it is possible to know how much we’d demand for an hour of work, many of us do not calculate how much time we invest in making money outside our normal working hours.
We can get a more vivid picture of how our time is worth if we factor in all the times that we invest to earn money.
Till next month,
I remain truly yours,
Serving since 28th December 2008.