What is your free time worth?

Quote from LordOfChaos : You can put $50/hr value on your time if you like, but you have to take into consideration if your "free" time is actually worth that. For instance, if you fill out some online surveys or something and make $20 for 2 hours, you say you lose, but if you would have spent that 2 hours watching TV, then you actually came out ahead. Same goes for the TV purchase example. Say you spend 8 hours (shopping, price comparing, coupon-ing, standing in line) to save $200. You say you lose on that transaction. I say you only lose if you could have made that extra money in your free time. If you get paid $50 an hour and can work overtime whenever you want, then that 8 hours is better spent working and you can just pay retail for the TV. But if you dont have an extra avenue to get that $50 an hour, you're better off spending your time trying to save some money (within reason, I wouldnt stand in line for 8 hours for much of anything)

Valid point.

I pose this question though. If you saved $200 for that 8 hours, essentially you "worked" overtime of $25 an hour tax free.

What if that 8 hours saved you $8 dollars?

Based on your response, you probably wouldn't spend your time for $1 an hour. But is there someone here who would? If so that person values their time at $1 an hour, which is the question I am asking. What do you think your limit is?

Quote from ryanmw2002 : Valid point. I pose this question though. If you saved $200 for that 8 hours, essentially you "worked" overtime of $25 an hour tax free. What if that 8 hours saved you $8 dollars? Based on your response, you probably wouldn't spend your time for $1 an hour. But is there someone here who would? If so that person values their time at $1 an hour, which is the question I am asking. What do you think your limit is?

Thats a good question. I dont know if I would put it in dollars per hour, I think I would lean toward dollars in general, and the activity. Like if the activity is standing in line, then I am not likely to do it. But if it is surfing the internet then I am usually doing that anyway. And if the dollar savings on a TV is $50, but I can get it now and have a B&M store to take it back to if there are issues, I would lean toward spending the extra.

I wont stand in line overnight at those black friday sales. Saving money is generally at my hourly wage. I'll simply wait for a similar deal without the wait. Unless its for something I really enjoy or my wife does. Like tickets for her favorite band or a meet in greet with Bruce Campbell.

I had a co-worker ask me how much I'd charge to fix her daughter's computer. I was like nfc, but I'd trade her daughter babysitting my son while we go to a movie.

I agree with everyone about lines. I did that once and was only in line for about 2 hours and it was the most boring and tiring waste of time ever. Like someone said, I find deal hunting pleasurable. It's less about the money sometimes and more about the challenge. Plus, I'm so over facebook and watching mindless TV that this is a good source of entertainment.

It's the same thing with the trash hunting. We recently adjusted our strategy. We had been picking up the bottles for deposit. Each one is worth $0.05, and we figured, if you pick up 40/day, that comes over to over $700/year. But the amount of time it takes to collect, the space they take up in what we are carrying, the space they take up in the apartment, and the amount of time to return them... it isn't cost effective nor is it ENJOYABLE -- which the rest of the trash hunting is.

Quote from ryanmw2002 : I usually assume $50 hour when I am trying to figure out whether I should waste my time on a deal, fixing something up to sell, research prices, look for a coupon, etc.

You must not have a lot of free time.. I have too much

Quote from hAvAAck : You must not have a lot of free time.. I have too much

With my job it varies. During busy months I work up to 12-14 hours a day/ up to 6 days a week. Non-busy months is 10 hours a day/ 5 days a week. I've freed up alot of time though by selling my house and moving into an apartment.

Apparently a t-shirt.

Quote from stephenNYC : I agree with everyone about lines. I did that once and was only in line for about 2 hours and it was the most boring and tiring waste of time ever. Like someone said, I find deal hunting pleasurable. It's less about the money sometimes and more about the challenge. Plus, I'm so over facebook and watching mindless TV that this is a good source of entertainment. It's the same thing with the trash hunting. We recently adjusted our strategy. We had been picking up the bottles for deposit. Each one is worth $0.05, and we figured, if you pick up 40/day, that comes over to over $700/year. But the amount of time it takes to collect, the space they take up in what we are carrying, the space they take up in the apartment, and the amount of time to return them... it isn't cost effective nor is it ENJOYABLE -- which the rest of the trash hunting is.

So why were you not multi-tasking while waiting in line? I don't know anything I do where I'm not multi-tasking at the same time. I go to a doctor's appt., I know I'm going to have to wait, I take things with me that I can accomplish and get done. Why waste time there doing nothing? It's all in how one organizes their time.

Why aren't you turning in the bottles daily rather than storing them You would get an immediate return on the bottles, rather than them taking up space - that makes no sense - they are still a valuable commodity - it's a matter of time management of returning them and getting that deposit money back. Rinse and repeat as often as necessary in order not to build up a unnecessary supply in your apartment. What was enjoyable turned not enjoyable, unless you find a way to turn them around quickly and efficiently.

Quote from Piccaboo : So why were you not multi-tasking while waiting in line? I don't know anything I do where I'm not multi-tasking at the same time. I go to a doctor's appt., I know I'm going to have to wait, I take things with me that I can accomplish and get done. Why waste time there doing nothing? It's all in how one organizes their time. Why aren't you turning in the bottles daily rather than storing them You would get an immediate return on the bottles, rather than them taking up space - that makes no sense - they are still a valuable commodity - it's a matter of time management of returning them and getting that deposit money back. Rinse and repeat as often as necessary in order not to build up a unnecessary supply in your apartment. What was enjoyable turned not enjoyable, unless you find a way to turn them around quickly and efficiently.

Yeah I have thought about doing that. I guess I could more easily turn in like 40/day. It def is a time management issue. I will think about it after I get the 300 bottles that have been sitting in bags in the closet out of here haha.

Quote from LC2 : Sex.

This is a good answer

pretty valuable since i don't have much of it nowadays (all numbers are semi-rural midwest).

i used to charge $20/hr for computer work back when i was in college and single, but i've turned down lots of work in the last few years and have figured it would probably take at least $100/hr to get me to do that anymore. when i do photography work, it usually ends up being roughly $50/hr for the session/shoot fee, which i'm happy with. i used to say paid work outside of my primary job would have to pay at least twice my wage to be worth my while, but i think $50/hr seems to be my acceptable level now.

a few years ago, we started taking real estate pictures for a local agent who does more volume than nearly anyone in his company in a three or four state area. in one of our meetings, he said one of the reasons he's so successful is that he focuses on just doing his job well. he purposefully pays people to mow his lawn, paint his house, maintain his vehicles, and do all sorts of other tasks so he can focus on doing his job the best he possibly can while keeping time for his family. it's not a philosophy that transfers to all occupations (being a good real estate agent takes a lot more time than many other jobs), but i've tried to partly adopt it, and i feel i've been able to focus on my primary responsibilities/hobbies more because of it. and my wife is happy; some of the husbands in our extended family are always doing something at home (fixing cars, repairing fences, handyman stuff, etc.), and i know their wives/kids would rather they had more family time.

of course, i will gladly help a friend move, do volunteer work, and engage in other activities without a monetary payoff, but that's not really the question you asked.