Calculating the Value of Your Time
Calculating how valuable your time is can help you determine which tasks are worth spending your time on.
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When it comes to productivity, one of the most powerful things to realize is that not all tasks are made equal.
Everyone can place a value on their time, and doing so is one of the most valuable calculations you can make when it comes to your productivity.
For example, deciding whether to:
take an Uber or public transportation
hire someone to mow your yard, shovel snow, or clean your place
hire an assistant, student, or team to delegate low-return tasks to
Becomes infinitely easier when you calculate exactly what your time is worth to you.
What do you make in a year? Divide that by how many hours you work to get a true hourly rate.
I’m not saying to not do anything less than that rate, but don’t lose track of that number. Let it weigh against your choices.
When how productive you are is a direct result of how you spend your time, knowing the value of your time will let you evaluate opportunities to buy it back in the future.
Every minute you save by not doing low-value tasks is one precious minute you can spend doing something more meaningful or important.