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Placing a dollar value on your free time
Posted on 6/5/21 at 11:41 am
Posted on 6/5/21 at 11:41 am
Have any of you ever tried to do this? Like create a formula to place a dollar value for your free time (including or excluding personal preference)?
Some questions I am trying to figure out the most efficient answer to:
- How much extra for a nonstop flight vs taking a cheaper flight with an hour long layover is too much to spend?
- How much are you willing to pay for someone to mow your lawn every week or spend an hour doing it yourself?
- How much should you pay for someone to delivery your groceries vs shopping for them yourself?
Some questions I am trying to figure out the most efficient answer to:
- How much extra for a nonstop flight vs taking a cheaper flight with an hour long layover is too much to spend?
- How much are you willing to pay for someone to mow your lawn every week or spend an hour doing it yourself?
- How much should you pay for someone to delivery your groceries vs shopping for them yourself?
This post was edited on 6/5/21 at 11:42 am
25
Posted on 6/5/21 at 11:48 am to dewster
quote:
How much are you willing to pay for someone to mow your lawn every week or spend an hour doing it yourself?
Son does it for $20
I will do stuff that I can do on my own like change my own oil vs the rapid oil change places.
Unless I have to be in a location for a specific time, I’ll fly at a convenient time for me vs a very early fight time.
This post was edited on 6/5/21 at 11:49 am
Posted on 6/5/21 at 11:49 am to dewster
I put more of a dollar value on frustration than time, but I’ve never actually sat down and figured it out.
I just ask myself if it’s worth being pissed off at something in my free time versus what it costs to pay someone else to be pissed off at it
I just ask myself if it’s worth being pissed off at something in my free time versus what it costs to pay someone else to be pissed off at it
Posted on 6/5/21 at 12:15 pm to Tiguar
Another thing to look at is some people use lawn work etc as a relaxant. My dad got more fun from doing his yard and drinking beer than going out doing things.
Posted on 6/5/21 at 12:34 pm to Tiguar
I've opened my wallet, especially with travel or anything that involves lines.
Worth it every time.
Worth it every time.
Posted on 6/5/21 at 1:57 pm to dewster
Apparently my worth of time to get my grass cut is $60 since that’s what I’m paying. Used to pay 200/month for house cleaning but that stopped last year when COVID hit so we been making it work since then. I pay a couple hundred each year for termite treatment and I pay for oil changes to be done on the vehicles.
Posted on 6/5/21 at 2:04 pm to dewster
The value of my free time changes frequently. I value mine at the value of my pay. When I would rather spend time on free time than work it’s become more valuable to do so. Sometimes I place very little value on free time when work demands my time or when I want/need to make more money. Other times I place much more value on my free time when work can wait and leisure is wanted (vacation or golf), needed (after long stretches of stressful periods), or only available at limited times and should be utilized then( hunting, fishing or college football games).
Posted on 6/5/21 at 2:25 pm to dewster
It's worth what I pay my grass guy weekly. So about $40.
It's worth whatever instacart charges us. I've literally only been inside Costco 3-4 times since Covid.
It's worth the $240 to have cleaners come every other week.
For me, it's about convenience. Money can usually buy that for you. That's why we have a nanny. I don't need one, but it's nice to have someone show up to your house every day vs. having to haul your kid to a nursery.
It's worth whatever instacart charges us. I've literally only been inside Costco 3-4 times since Covid.
It's worth the $240 to have cleaners come every other week.
For me, it's about convenience. Money can usually buy that for you. That's why we have a nanny. I don't need one, but it's nice to have someone show up to your house every day vs. having to haul your kid to a nursery.
This post was edited on 6/5/21 at 2:29 pm
Posted on 6/5/21 at 2:31 pm to dewster
It's easy for me to do these days - at my request my contract is to work half the normal hours in a year, as I approach retirement soon. I get paid extra beyond this - at a rate that let's just say is north of $50/hour, and I can work basically as much as I want beyond half time.
Free time just became pretty expensive. A vacation a few weeks ago ran me $2,800 for actual costs, and more than $4,000 for taking off work.
Free time just became pretty expensive. A vacation a few weeks ago ran me $2,800 for actual costs, and more than $4,000 for taking off work.
Posted on 6/5/21 at 2:47 pm to dewster
quote:
- How much should you pay for someone to delivery your groceries vs shopping for them yourself?
Not sure why you're assuming this is the more expensive route for groceries. I'd argue it's cheaper.
Posted on 6/5/21 at 4:03 pm to dewster
Usually I spring for the faster/easier solution even if it cost more money.
Another example, we can go in my wife's mini SUV on a road trip @ 30mpg or I can go in my full size SUV with a wonder American V8 getting 15mpg with leather, room for sumo wrestlers, TV for the little one,etc etc. We spend double the gas EVERY time.
Another example, we can go in my wife's mini SUV on a road trip @ 30mpg or I can go in my full size SUV with a wonder American V8 getting 15mpg with leather, room for sumo wrestlers, TV for the little one,etc etc. We spend double the gas EVERY time.
Posted on 6/5/21 at 5:39 pm to dewster
For me, it’s $250 an hour.
I pay for a lawn service because if it’s sunny, I play golf.
The flight thing varies. I have some risk of blood clots so I’m ok with connections.
I was doing some consulting projects for $200, but they called all the time so I escalated.
I’ve done a few consultations this year. It’s ok, but it does kind of interfere with after work golf.
I pay for a lawn service because if it’s sunny, I play golf.
The flight thing varies. I have some risk of blood clots so I’m ok with connections.
I was doing some consulting projects for $200, but they called all the time so I escalated.
I’ve done a few consultations this year. It’s ok, but it does kind of interfere with after work golf.
Posted on 6/5/21 at 6:39 pm to dewster
It’s more than what my annual salary + bonus comes to. My free time is more scarce so it’s inherently worth more.
Posted on 6/5/21 at 6:42 pm to dewster
My life just isn’t that interesting. I enjoy doing the lawn, doing various maintenance around the house etc. if I’m not doing that I’m spending time watching tv or tiger droppings.
Posted on 6/5/21 at 7:54 pm to dewster
I pay $25 every week to have someone cut our grass. No regrets.
Our luxury is we have a maid. She comes once a month and is typically $120. Around $200 if we have her team do the entire house. We have a deep clean upcoming for $290. It would take us 4+ hours to do the comparable work.
Groceries. I tip a very small amount - I pay an annual fee and that’s what I’m allocating to the service. I find it crazy that a grocer wants me to pay an annual fee and then also subsidize their delivery costs. It’s on them grocer to figure out the profitability equation. I use delivery once or twice a month.
I use DoorDash frequently and tip normally there.
We are spoiled living in a city with two major airports. I only take directs with very rare exception. It typically isn’t more expensive.
Our luxury is we have a maid. She comes once a month and is typically $120. Around $200 if we have her team do the entire house. We have a deep clean upcoming for $290. It would take us 4+ hours to do the comparable work.
Groceries. I tip a very small amount - I pay an annual fee and that’s what I’m allocating to the service. I find it crazy that a grocer wants me to pay an annual fee and then also subsidize their delivery costs. It’s on them grocer to figure out the profitability equation. I use delivery once or twice a month.
I use DoorDash frequently and tip normally there.
We are spoiled living in a city with two major airports. I only take directs with very rare exception. It typically isn’t more expensive.
Posted on 6/5/21 at 8:08 pm to dewster
Maybe I’m weird but i hardly pay anyone to provide me any kind of service. I do all of my own house/vehicle maintenance, no maids, etc.
I enjoy seeing my handiwork
I enjoy seeing my handiwork
Posted on 6/5/21 at 8:22 pm to jimbeam
I can earn multiples of what I'd pay for things like that so I prefer to focus on earning.
Posted on 6/5/21 at 8:38 pm to dewster
Going to echo both sides of sentiments in this thread. I do things like cutting my own grass because I believe it has some therapeutic value. On the other hand, since I’ve started using Instacart, I rarely go to the big box stores anymore. Much easier to pay someone $25 than deal with a 2 hour experience of overcrowding and lines.
Posted on 6/5/21 at 8:40 pm to VABuckeye
I work for the man. If I had my own business I could see paying a for a lot of things to allow me to stay focused.
Posted on 6/6/21 at 1:40 am to dewster
If you can afford it, you should have someone else mow your lawn.
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