X47 Time Management Philosophy

What is a additional hour of free time worth to you?

As an employee, you can't really improve your net income by working more within your company. It is therefore clear, how high your net earnings are per hour. Imagine, you could BUY more time for your family, friends or your hobby. How much is an additional hour of free time worth to you?

A little brainteaser: Imagine you are working as a freelancer and are paid by the hour without a time budget, eg. 100 Euros per hour of work. What does that mean to you? What could it mean?

1. A journey with your own car for one hour, which you can’t invoice on, costs you 100 Euro plus additional costs for the car. A train ticket would be cheaper; you could work during the journey.

2. Cleaning your apartment, which you need three hours for, costs you 300 Euros! For that you could get someone to clean for you for 30 hours!

If you revalue your own time with an hourly rate and disregard the “fun factor”, you would get the following time-money-substitute:

1. Shop from catalogues, the internet or by telephone.
2. Get your groceries delivered rather than go shopping yourself.
3. Shop expensively, but quickly, rather than searching for cheaper offers.
4. Use other types of transport (taxi, bus, …)
5. Use household helpers or personal secretaries (even a couple of hours a week help enormously)
6. Use professional service providers.