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How much is your time worth?

What life factors should be considered when calculating the value of our time? 

 

Message 1 of 15
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14 REPLIES 14

How much is your time worth?

1. Do I really want to do this? So... Desire??

Message 2 of 15
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How much is your time worth?

I've sold retail for more than 50 years, first in bricks and sticks shops, then my own small publishing company and since 2008 in Etsy, and for a year eBay. I have never figured my time into prices. It's just not doable. You price your items with a fair value, which will bring more sales, and that in itself pays you for your time. Especially considering selling online is done at home, and you can watch tv at the same time, eat a sandwich, run your washing machine, take breaks anytime you want to, and basically run your life as usual...how do you determine an hourly wage for that? To me it just isn't worth figuring out how much to charge for something that's so much fun.  But I'm sure others will have it figured out and give you a money amount.

Message 3 of 15
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How much is your time worth?

Your age?     Your responsibilities?    Kids?   House payment?   Car payment?

 

Here's the criteria for me.    I need to earn a certain amount of money every week on ebay

 to pay my share of the household expenses.    If I can do it on ebay,  That's fine.   If ebay 

 comes to a point where I can't pay my share from the profits of selling here,   Then it's off

  to find a part time job.

 

Local grocery store across the street pays $16.00 an hour and I can go to work there anytime I want.

 

   I'd rather work from home in my jammies 

and take breaks whenever I feel like it or watch an old movie or take a nap at my leisure than

 work outside the home at age 68.

 

So,    If I have to work more hours at home than outside the home so be it.    

 

It's all about the $$$  What you need.   What you don't need.

 

Everybody's mileage will vary.

Message 4 of 15
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How much is your time worth?

"What life factors should be considered when calculating the value of our time?"

 

Level of education and what you could make at a traditional job.

Message 5 of 15
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How much is your time worth?

There will be no consensus answer to this.  It is different for each individual, depending on their circumstances.

Message 6 of 15
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How much is your time worth?

Here in British Columbia the minimum  wage is 25cents a minute.

In June this rises to 27.9 cents a minute.

On the one hand, will I make enough money at minimum wage to list this?

On the other hand, I can list this in my jammies.

 

Refunds and returns are one part of retail that should be looked at with a cold eye on the wallet and the clock.

If it will cost more to buy the return label than to refund without return, how long will each reaction take?

And how much will I spend at minimum wage.?

 

This works for hobby sellers like me.

"Professional" sellers who are making a substantial part of their household income from online selling, not just on eBay, will have other needs and costs.

Message 7 of 15
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How much is your time worth?

"To me it just isn't worth figuring out how much to charge for something that's so much fun."

 

Interesting...

Just curious, do you have a significant other? 

Have children? 

Other family responsibilities? 

Life goals outside eBay?

Message 8 of 15
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How much is your time worth?

The question the OP asks is a good one.    

 

On the one hand,   Everybody knows how much they NEED to earn.

                                       Everybody know how much they would LIKE to earn.

 

Peace of mind and being satisfied with what you are doing is priceless.     Sometimes it 

ain't all about the money and keeping score.   

Message 9 of 15
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How much is your time worth?


@turnpiketreasures1 wrote:

You price your items with a fair value and that in itself pays you for your time. Especially considering selling online is done at home, and you can watch tv at the same time, eat a sandwich, run your washing machine, take breaks anytime you want to, and basically run your life as usual...how do you determine an hourly wage for that? To me it just isn't worth figuring out how much to charge for something that's so much fun. 

Ditto the above:

 

My time in invaluable. But not worth nearly as much as my sanity. I would be willing to say that, based on some of the comments I have seen over the years, there are people here (myself included) who do this because they have come to the realization that sitting around doing nothing is not nearly as easy as it looks.

 

Years ago one of my mentors gave me a clue to a happy life: Having someone to love and something to do. Fortunately I have both.

 

My only concern is at the end of the month, after paying all my bills and indulging my recreational needs, do I have more money left than I had at the beginning of the month., If yes, I’m satisfied.

 

 

The government consists of a gang of people whose principal device is to search out groups who pant and pine for something they can not get, and to promise to give it to them. In other words, government is a broker in pillage, and every election is a sort of advanced auction on stolen goods.
H L Mencken
Message 10 of 15
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How much is your time worth?

Time-vs-money...
What can I do? 
What will I do?
What do I want to do?
  and the most important thing....
What am I doing? 
    There's a ton of things that I do every day that I wouldn't pay somebody else $10/hr to do.


 
   

Message 11 of 15
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How much is your time worth?

Story time. I shall speak a parable on the value of proper accounting, or the vice, perhaps. 

 A friend o' mine built up what he, and his wife, thought was a fairly successful business, but never paid themselves any salaries out of it.   

Then came the lawyers.  Friend kept the business, there was no interest in that.  But there was a great deal of interest in money, and the now ex-wife's lawyer came knocking, requiring a cut. 

Alas, there was no cut, for the lack of all those years' salary was factored in, and when it was deducted, the business value turned out to be somewhat negative.

So, the person who doesn't account for the value of their time, may find themselves in for a surprise.  But whether this is a nice surprise or a nasty surprise, depends on one's point of view. 

So much in life, depends on point of view.  


Message 12 of 15
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How much is your time worth?

Interesting perspective.

 

For myself, I feel the value of my time is based on what are the most valuable aspects of my life, such as my wife, my kids, grandkids, friends as well as my faith. I guess I could sum it up in one word...

"Balance".

Message 13 of 15
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How much is your time worth?

$1 a minute 24/7/365!

Message 14 of 15
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How much is your time worth?

My time is worth whatever you are willing to pay me for it. 

Right now it is not worth much!

Just my Two Cents...
Thank you for being here!
Penny
Message 15 of 15
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