The Calculator
Be sure to read the “Background” & “Applying The Concept” sections below and watch the TEDx Talk Brian delivered on this, to truly understand the intentions behind these numbers as a tool to help make decisions in your life.
Estimate Your Time's Value
No symbols. No commas. Use only basic numbers with decimals.
($68,703.50 = 68703.50 --and/or-- 15 minutes = 0.25 hours)
Calculated Estimates
Personal Time:
$0/HourWork Time:
$0/HourHours of Personal Time Weekly:
0 HoursCan I help you with this? Let’s chat, won’t take long!
Background
“There just aren’t enough hours in a day!”
Ever find yourself thinking that? Have you spent hours working on something, only to realize “That took me SOO LONG.” I’ve had those same thoughts at my job: “Wow, did I really just spend 40 minutes crafting the language in that email?” or “I just spent hours on this report that no one is going to read!”
It happens at home, too. Installing a new plunger in the toilet might lead to more than an hour lost. You fix what’s broken, and then go with a little cleaning, and keep going, and pretty soon it’s dinner time… already?!
What if we could actually assign a dollar value to that time?
Modern life pulls our time in all different directions. Really getting a handle on how you spend your time is a POWERFUL step in becoming more productive, both at work and at home! Incorporating the value of your time in your planning is a game-changer for many people when balancing work, and home and life. James Clear had a point when he wrote about The Value of Time:
“Not all uses of time are equal, and this simple truth can make a big difference in life.”
Most people are aware of this concept in general, but it seems to largely be ignored in practice. Most smartphones allow you to measure the amount of “screen time” being used — and knowing that doesn’t necessarily change how much time you spend on them though, does it? What about time spent on social media, or catching up on the latest episode of Game of Thrones? What’s the other shows you’re watching?
You spend this time, your time, but how do you get a perspective of it’s worth it?
The Wealth Hounds weigh in on this question:
“If time is money, then the decisions we make regarding how we spend our time are financial decisions.”
Ok, I don’t think that’s always true, but it definitely is sometimes!
Let’s work it out for you right now.
With Productivity Gladiator, we’ve worked out a calculator to let you estimate your own numbers.
Applying The Concept
Now that you know what your time is worth, I recommend remembering it 2 different ways. Remember the hourly value, and also remember what 5 minutes is worth. With those 2 numbers top-of-mind, we can easily interpret & see examples such as:
If there’s a $5 delivery charge, but it saves me 20 minutes, is that worth it?
I could take the bus for $2 and it will take 40 minutes, but an Uber will cost $8 and take 10 minutes, is it worth it?
I can pay someone $50 to fix the toilet, or it will take me 2 hours to do, is it worth it?
If you could pay someone $100 to clean your home and that would save you 4 hours on a Sunday, would it make sense to do that?
Certainly there’s more factors than just the dollar amount in some of these examples — it’s the perspective of what your time is worth that I want to add to your tool belt, because in many cases, it may simplify the decision making.
Let’s also examine some scenarios that work in the opposite direction. Considering your Personal Time’s value, what are these worth:
Take a 20-minute survey for a chance to win (1 person out of 1,000 will win a $50 gift card).
Take a survey about your experience and a company will send you a coupon for $1 off your next purchase.
Is that worth your time?
Remember the numbers we’ve calculated above. Check-in with yourself and update those hours from time to time as life changes and you make more money, or your work hours increase or decrease.
Consider this specific $/Hr amount as part of deciding what you’re spending your time on. It’s not always this simple. There will be times when you’ll make decisions that go against what these numbers might say — and that’s okay.
Armed with this knowledge you’ll be able to make better decisions with your time.
Henry David Thoreau once said,“It is not enough to be busy… The question is what are we busy about.”
Time is the currency of your life, spend it wisely!
More great reads on this topic:
The relationship between time, money, and happiness, by GetRichSlowly.org
I’m Brian. At age 4, I was diagnosed with insulin dependent (type 1) diabetes and told that I was going to have a harder life that was likely 10-20 years shorter than normal. I’ve lived my best life every day since then, because you only get one chance to live it. I created Productivity Gladiator because I saw what a difference it made to share small and specific actions you can take right now, right away, to achieve better work life balance, be more productive, and live your best life right now, today, not wait until retirement. I want you to start doing the things you WANT to do, not get stuck chasing what you NEED to do. If any of this resonates with you, send me a note. It brings me joy to share this passion with you.