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Blog: Simplify Your Life
 How Much Is Your Time Worth?
Simplifying your life is all about prioritizing -- determining which activities are worth doing yourself, and which are better left undone or delegated to someone else. The first step toward making this determination is knowing how much your time is worth -- then you can decide when to invest this precious and limited resource, as well as when to save up for something you want even more.
Learning How To Quantify
When you were a kid, you probably didn't think much about what it took to earn money -- you just asked for what you wanted and somehow, mommy and daddy made it happen. You didn't worry about what stuff cost, and you didn't understand when someone told you it was too "expensive." Then you got an after-school job or started working for your allowance -- and I'll bet you became a lot more discriminating about what you did with hard-earned cash!
It's the same with time. Very few people really know what their time is worth, in concrete financial terms. They just go through their day on autopilot, wondering where the hours go. Until you recognize that your time is intrinsically valuable, you will never be able to make informed decisions about where your effort is best spent. Here's a general guide illustrating how much an hour of your time is worth, and how just one hour a day (spent poorly or wisely) adds up over a year's time:
YOUR
ANNUAL INCOME
|
WHAT ONE HOUR
IS WORTH
|
ONE HOUR PER DAY
FOR A YEAR
|
$25,000
|
$12.61
|
$3,125
|
$40,000
|
$20.49
|
$5,000
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$50,000
|
$25.61
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$6,205
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$75,000
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$38.42
|
$9,375
|
$100,000
|
$51.23
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$12,500
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$125,000
|
$65.10
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$15,884
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$150,000
|
$76.84
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$18.750
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$175,000
|
$89.65
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$21,875
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$200,000
|
$102.46
|
$25,000
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$250,000
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$128.07
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$31,250
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$300,000
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$153.69
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$37,500
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** Based on 244 working days per year
You can always look at delegating in terms of the biggest financial payoff. When I hire someone to take care of an item on my not-to-do list -- and I pay them $25 an hour while my hour is worth $60 -- I'm coming out ahead. The same is true when I can hire someone to do a task in a half hour that would take me 3 hours to complete. I can be focusing on higher priorities -- things that feed my soul or grow my business or let me know I'm alive -- without worrying that the work isn't being done.
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posted on: 1/3/2012 11:30:00 AM by Ramona Creel
category: General Organizing Tips
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Simplify Your Life
by Ramona Creel
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About Ramona:
I have been a Professional Organizer for more than 10 years, I am a NAPO Golden Circle member, and I was the original founder of OnlineOrganizing. I have worked one-on-one with scores of clients and have trained dozens of newbie organizers as they got started in the industry. I provide both hands-on and virtual coaching to help clients improve their organizing skills and simplify their lives. I invite you to visit my website at http://www.RamonaCreel.com, and I challenge you to find one new idea that you can put into practice in your life, to help you become better organized, starting TODAY! I am passionate about coaching folks toward a more balanced, productive, and enjoyable life -- and I firmly believe that if I can do it, so can you!
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