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Valuing Your Time?
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x0x


Joined: 10 Jul 2008
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Location: Ontario, Canada
PostPosted: Wed Oct 03, 2012 1:25 pm    Post subject: Valuing Your Time? Reply with quote

Several years ago I knew this one guy who always noted that whatever I spent my time on was costing me.

He'd say something like: " Imagine if you were teaching music instead of volunteering for 5 hours a week, you'd make some nice cash on the side " etc.


This guy now owns his company. He's not a millionaire but fairly well off, probably earns in the hundreds of thousands.

He looks awful ( weighs 300+ on a 5"10 frame ), has few friends and no long-term relationships ([REMOVED] - That's neither appropriate, nor relevant.).


Now yes, this is a cynical example but I myself have a pet peeve of people who look at every minute of their time in monetary gain. I do favours for friends free of charge cause I want to.




Why do so many people look at " This will take me an hour to do, $50! ".


The hell????




In terms of what favours I do, for example I teach piano to one of my friends' kids for free.
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Gmen4ev


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PostPosted: Wed Oct 03, 2012 1:28 pm    Post subject: Reply with quote

Its not about how well you lived ... its about how happy you lived

Thats my motto
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RainbowCarebear


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PostPosted: Wed Oct 03, 2012 1:31 pm    Post subject: Reply with quote

Do whatever makes you happy. And helping other people makes you happy do it.
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JDLefebvre


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PostPosted: Wed Oct 03, 2012 1:32 pm    Post subject: Reply with quote

RainbowCarebear wrote:
Do whatever makes you happy. And helping other people makes you happy do it.


seems simple enough
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iPwn


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PostPosted: Wed Oct 03, 2012 1:37 pm    Post subject: Reply with quote

Sorta relevant: I never understood why people will wait around for ridiculous amounts of time to save a little money.

Like people will wait a half hour at this one gas station in town on Sundays because they have a sale that is like 3 cents cheaper than the empty gas station a block away.
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fretgod99


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PostPosted: Wed Oct 03, 2012 1:42 pm    Post subject: Reply with quote

iPwn wrote:
Sorta relevant: I never understood why people will wait around for ridiculous amounts of time to save a little money.

Like people will wait a half hour at this one gas station in town on Sundays because they have a sale that is like 3 cents cheaper than the empty gas station a block away.
"BRB! Gas station 30 miles away is the cheapest gas around by like nine cents!"
*burns two gallons of gas to save $1.10.*
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Flaccomania


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PostPosted: Wed Oct 03, 2012 2:04 pm    Post subject: Reply with quote

iPwn wrote:
Sorta relevant: I never understood why people will wait around for ridiculous amounts of time to save a little money.

Like people will wait a half hour at this one gas station in town on Sundays because they have a sale that is like 3 cents cheaper than the empty gas station a block away.


Yep.

I value time in the sense that I'll pay a little extra to have things done more quickly. I'd rather pay that money and save myself some time to do what I want rather than waiting to get the same result but for slightly less money. But, as for the OP, I too love to help people for the sake of helping. I never look at my time spent doing something and think "hey, I could have made $X in this amount of time".

I don't look at my time in terms of dollars, but my dollars in terms of time, I guess. I use my money to try and get myself more time/things to do, rather than use my time/things to do to get more money.
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theJ


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PostPosted: Wed Oct 03, 2012 2:44 pm    Post subject: Reply with quote

When i'm not at work, my time is worth $0/hr. Some people are in too big of a hurry sometimes.

Sometimes i'll mention to someone that i'm building something at home, and they'll come back with "it took you 8 hrs to do that plus materials, and you could have bought it for $50. Why didn't you just buy it? Your time is worth more than that."

A) I can't be at work all the time: sometimes i run out of things to do.
B) I enjoy making things with my hands, something that is radically different than my day job.

Meaning my down time isn't worth my hourly wage at work.
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MonserinNC


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PostPosted: Wed Oct 03, 2012 3:11 pm    Post subject: Reply with quote

iPwn wrote:
Sorta relevant: I never understood why people will wait around for ridiculous amounts of time to save a little money.

Like people will wait a half hour at this one gas station in town on Sundays because they have a sale that is like 3 cents cheaper than the empty gas station a block away.


!!!!!!!!!

I remember when Chic-fil-a first came to Chicago they had a free sandwich give away and people were lined up around the block, hahahaha, why would you wait in a line around the block for a free fast food chicken sandwich!!??

Also waiting in line for Iphones....just ridiculous.
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-Hope-


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PostPosted: Wed Oct 03, 2012 3:43 pm    Post subject: Reply with quote

Why worry about how he chooses to live his life?
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iPwn


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PostPosted: Wed Oct 03, 2012 4:01 pm    Post subject: Reply with quote

MonserinNC wrote:
Also waiting in line for Iphones....just ridiculous.
Agreed. Preordering is the way to go. Wink

I'm not waiting for something unless it's necessary to do so.
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RyanFuller003


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PostPosted: Wed Oct 03, 2012 4:18 pm    Post subject: Reply with quote

It's just economics. The ultimate resource is time because it's just about only thing that can't be manufactured or traded. Every one of us is subconsciously making a labor-leisure tradeoff at all times.

That doesn't mean you have to spend all of your time working, because leisure has value too. There comes a point for everyone when they say, "I don't care how much you're paying me; I'm done working."
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MaclinandMCcoy


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PostPosted: Wed Oct 03, 2012 4:59 pm    Post subject: Reply with quote

-Hope- wrote:
Why worry about how he chooses to live his life?

My thoughts exactly
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IrishGreen


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PostPosted: Wed Oct 03, 2012 6:53 pm    Post subject: Reply with quote

RyanFuller003 wrote:
It's just economics. The ultimate resource is time because it's just about only thing that can't be manufactured or traded. Every one of us is subconsciously making a labor-leisure tradeoff at all times.

That doesn't mean you have to spend all of your time working, because leisure has value too. There comes a point for everyone when they say, "I don't care how much you're paying me; I'm done working."


MY MAN

this is why i'm so glad i'm an econ major. it just opens your eyes to a ton of things.

btw the dude in the op is an idiot. thats called a person who misses life because he's trying to plan for a perfect one.

brb using "time i could be earning" and getting ripped so i can spend my free time talking to females and having fun going on instead of sitting in my room staring at the wall until my next shift.
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Dalton


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PostPosted: Wed Oct 03, 2012 10:57 pm    Post subject: Reply with quote

It's called opportunity costs.

Everyone has a set amount of time to live. You may be able to increase or decrease that time depending on your decisions in life. I wouldn't recommend wasting any of it, but that's pretty impossible, I'll admit.

I'm actually anticipating the day a no-sleep pill is invented. Think about it. You waste a third of your life laying in bed. You could almost live a second life. (Think of that American Dad ep if you've seen it.)
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