What is your time worth?

[heidrek]

depends where you are and what you do for a full time job I guess.

In my case i'd value my time at around $30/hr.

I tend to volunteer it for pet projects though.

[money blogger]

I think Timothy Ferriss book "The 4 hour work week", sums it up great. Take your annual salary and divide by two then that would be your hourly rate. For example:

If you make $50, 000 a year then your hourly rate would be $25 per hour. So, if you were to spend 3 hours searching for the least expensive microwave only to save $10 would be a waste of your time.

This is how I measure my time

Brandon

[elessar78]

I do freelance (in addition to my 9–5 gig) work so I've had to calculate what my time is worth.

But that in it of itself is misleading because obviously my time is worth way more than what someone will pay me, but it's what the market for my services will bear.

I also coach youth soccer on a volunteer basis so I end up losing a lot of time and money through that... real money (gas, coaching clinics, training aids etc) and opportunity cost.

[PrincessPerky]

No one pays me for anything I do. So in a way my time isn't worth anything.

But on the other hand if I needed to pay someone to do what I do. chef, maid, personal educator, nanny, and multiple 'director jobs'. An hour of would cost a small fortune.

If on the other hand I looked at what I could be paid if I wanted a paid job, I guess the standard NC teaching rate would be rather easy to come by. Not sure what it is, and then I would have to take off extra clothes, convenience foods, drive time, and transport costs, plus a few other legal details (no official state ID card-subtract taxes, ect) oh and then take out the cost of paying someone else to be with my kids. I am fairly certain it would be a net of zero or less.

So summing it up, either my time is priceless, or worthless. One of the two.

[woodie96]

I'm in line with moneyblogger here. My DW and I often talk about what time is worth between each of us. I'm guessing ours is worth between 25-30 bucks an hour.
In a couple of weeks we are taking vacation to see my dad who is an 18 hour drive each way from my house. Instead of driving the entire trip, we are buying plane tickets to get within about a 3 hour drive and renting a car. Multiply the trip by a 15 hour savings on each end, it saves me 30 hours worth of drive time so I can spend more time with my father. The plane tickets for us both only cost about 250 bucks, so it is a no brainer for us. If the tickets were 750 or more, then we might would consider driving.
I think it all depends on what you do with the time that you are placing a value upon that really determines the cost...