Valuing Your Time?

x0x · Joined: 10 Jul 2008 Posts: 13913 Location: Ontario, Canada

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 · Posted: Wed Oct 03, 2012 1:28 pm Post subject:

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

Thats my motto
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RainbowCarebear · Posted: Wed Oct 03, 2012 1:31 pm Post subject:

Do whatever makes you happy. And helping other people makes you happy do it.
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JDLefebvre · Posted: Wed Oct 03, 2012 1:32 pm Post subject:

iPwn · Joined: 10 Oct 2009 Posts: 35483 Location: Stand United

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 · Joined: 05 Aug 2005 Posts: 17823

Flaccomania · Joined: 12 Aug 2008 Posts: 16550 Location: Parkville, MD

theJ · Joined: 20 Mar 2005 Posts: 15893

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 · Posted: Wed Oct 03, 2012 3:11 pm Post subject:

-Hope- · Joined: 16 Feb 2007 Posts: 16096 Location: The []_[]

Why worry about how he chooses to live his life?
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iPwn · Joined: 10 Oct 2009 Posts: 35483 Location: Stand United

RyanFuller003 · Joined: 07 Jan 2007 Posts: 19881

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 · Posted: Wed Oct 03, 2012 4:59 pm Post subject:

IrishGreen · Joined: 22 Mar 2007 Posts: 30853 Location: Wisconsin

Dalton · Joined: 16 Mar 2010 Posts: 1636 Location: Illinois

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.)