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Elegant Simplicity

 home | elegant simplicity | the value of time

 

 "The Value of Your Time"
 By Scott Andrews, Founder 
 
  "You guys are awesome! I have discovered a very good part of life [through your] good information." -- Cynthia (MI, USA)  
    
 

The Value of Your Time? What is it? How often do you think about it? The value of time is difficult to calculate.  One example we can use to view what our time is worth is the financial comparison method.

 

The following chart indicates the time value in money:

 

In a year, one

If annually

Every hour

Every day

hour saved a

you earn

is worth

is worth

day is worth

$20,000

$10

$83

$2,302

30,000

16

125

3,453

50,000

26

208

5,755

80,000

42

333

9,208

150,000

78

625

17,266

300,000

156

1,250

34,531

* - based on a 240 days in working year and 8 hour work-day.

 

Notice how much money we save just by limiting how we spend time to save one hour a day.  Just one hour a day, for someone earning $50K a year, is worth $5,755.00 - not counting the interest income.  Several keys to the correlation between time and money can be derived from this chart.

 

    1.  Time is worth more than most of us realize.

    2.  Our wages are worth less than we think if we are working 12 hour days vs. 8 hour days.

    3.  Commuting time and other time gobblers DO matter over the long haul.

  

On a spiritual note about time:  it is the only resource we have which cannot be replenished once it is spent.  We must use it wisely.  Money is also energy; however, money lost can be replaced.  The value to money is seeing how money saved can compound when invested wisely.

 

Check out Franklin Covey's Gift Card towards time management productsOriginal Design Planning Pages (commission junction ad).

 

A valuable exercise to apply when evaluating this chart is to take your time value of money and double or triple the perceived worth of your time.  This will likely raise the value you place upon your time.  It pays dividends over the long run, because as you think, so shall you be.

 

A Chinese proverb states, "the best time to plant a tree was 20 years ago.  The second best time is now."   It is important to recognize the urgency in what we are doing, yet also understand the value in calmly and efficiently handling our matters.

 

Here are seven ways we can reorganize our lifestyle to save (therefore, create) more time:

 

    1.  Limit or eliminate our commute to the office (or drive outside of peak traffic hours).

   

    2.  Dine outside of popular hours (avoid Noon - 1:20 p.m. and 6:00 p.m. to 7:30 p.m.).

 

    3.  Eliminate clutter in scheduling (pick the three most important things to do and do them first).

   

    4.  Outsource all tasks that cost us more than it would to pay someone else.

            Examples:  housecleaning, gardening/mowing lawn, auto/home maintenance

   

    5.  Hire an assistant.  An assistant can be a valuable aid to helping us stay on our purpose.

   

    6.  Hire a coach. Coaches can advise us of matters such as career, fitness, financial (advisor).

   

    7.  Automate bills to pay online. Eyeball statements rather than balance personal checkbooks.

 

The amount of time saved will vary depending upon current schedules.  Creating time will free us to do more of what we love and less of what we don't.  This is the point of creating time - creating more abundance and happiness.

 
AspireNow offers Life Coaching! Improve your life, relationships, and career, starting today: Sign up now for a free 10 minute introductory call, then you will receive 3 45-minute monthly coaching calls for only $149.95 US (regularly $199.95) per call.  
Free $25 Gift Card with  Tote. Use code GIFTCARD 

 

We welcome your comments and success stories about creating an elegant, yet simple lifestyle and maximizing your time to create more abundance. (feedback).

 

Scott Andrews is a life coach, business consultant, and CEO/Founder of AspireNow (www.AspireNow.com), a site helping people realize their business and personal aspirations. He is a speaker and the author of numerous articles and workbooks on business success, life purpose, smooth sailing relationships, and creating abundant lifestyles. He launched the first interactive self-help program on the Net, called the AspireNow Advisor.

 

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