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General Category => Off the Record => Topic started by: Josquius on December 13, 2011, 03:06:15 AM

Title: What is your time worth?
Post by: Josquius on December 13, 2011, 03:06:15 AM
As I've posted in the OTT I've never had a puncture on my bike in my life yet here in Japan it seems to be happening a hell of a lot.
I've never had to fix a puncture before and it is quite a long and reasonably difficult process. Painful too.
At a bike shop...fixing a puncture costs 1000 yen...
Now...this does seem rather a lot of money for something which you can do at home. Yet...I'm earning pretty good money these days...its painful but...1000 yen for an extra hour to do what I want/sleep/whatever is pretty nice.

Everyone of course values money differently.
To a kid £100 is an amazingly huge amount of money which he will only ever see once in a blue moon. The thought of ever buying a games console himself is just crazy talk.
To a student...£100 is maybe a fortnight of living. A significant amount of money but nothing he doesn't handle on a daily basis.
To a rich lawyer or the like though £100 would maybe cover a pair of expensive socks bought on a whim.

How do you value your time and money?
Would you walk 5 minutes extra to spend 50p less for a can of coke?
If something saves an hour of your time does it also have to cost a lot less than you earn in an hour? Or would you pay more than you earn to get some extra convenience in life? Hell, for some of you; would you ever consider doing a simple household task that will take a hour or so when you can just pay someone to do it?
I'm not being vulgar here and asking for everyone to detail exactly how much they earn. Just how do you value your time in relation to your money?
Title: Re: What is your time worth?
Post by: Zanza on December 13, 2011, 04:01:27 AM
Quote from: Tyr on December 13, 2011, 03:06:15 AMWould you walk 5 minutes extra to spend 50p less for a can of coke?
Probably not.

QuoteIf something saves an hour of your time does it also have to cost a lot less than you earn in an hour?
I work a fixed number of hours so I can't really convert free time into more income. So even if some activities would cost me either two hours of my time or my salary for one hour of work, I might still opt for doing it myself.

QuoteOr would you pay more than you earn to get some extra convenience in life?
In some cases. Simple example: I never iron my shirts myself. It's not that I couldn't easily do that and it doesn't even take that much time, but I hate it so I rather pay so that someone else does it.
Title: Re: What is your time worth?
Post by: Viking on December 13, 2011, 04:07:12 AM
My time gets sold at $250 per hour. But, as a general rule I value it at $50 per hour when I'm buying plane tickets and travelling on personal business. Naturally any extra expenses related to the layover; airport food, hotels etc; are included in that calculation.

This actually matters alot since the flights within norway tend to be twice as expensive at 6pm as they are at 10pm.
Title: Re: What is your time worth?
Post by: Brazen on December 13, 2011, 05:38:45 AM
Quote from: Tyr on December 13, 2011, 03:06:15 AM
Would you walk 5 minutes extra to spend 50p less for a can of coke?
Yes, that's like a 50% saving. Plus I like walking during my lunch hours and sometimes go somewhere 15 minutes away just for some fresh air.
Quote
If something saves an hour of your time does it also have to cost a lot less than you earn in an hour?
When I earned £50 an hour maybe. Now I'm a pauper I'm time-rich and money poor so I'm prepared to do a lot more.
Quote
Or would you pay more than you earn to get some extra convenience in life? Hell, for some of you; would you ever consider doing a simple household task that will take a hour or so when you can just pay someone to do it?
I do all my own DIY - I've painted several rooms top to bottom, rewired light fittings, assembled furniture (even when the first instruction says "requires two people" ) and fixed stuff to walls. All single women need a wireless power drill/screwdriver combo for full independence. I know my limits, though, so I got in a friend with a plumbing qualification to fit my new sink and an electrician to fix my fuse box. The latter I was completely ripped off on and took a plumber and two electricians before they identified and fixed the fault. Never again. KHAAAAAAAAN!!!!

I also use money off vouchers (only for things I would buy anyway or as a discount off the total in the supermarket, I'm not one of those mad clipper ladies) and won't buy a single thing online without first checking for discounts, free postage or cashback. The cashback thing's a real revelation.
Title: Re: What is your time worth?
Post by: Monoriu on December 13, 2011, 05:56:28 AM
I make peanuts and my time is next to worthless.  So yes, I will walk 5 minutes extra just to save a few dollars.  But I also suck at doing anything that involves my limbs.  I can, with some difficulty, change the lightbulbs.  I can do some of the IKEA stuff.  That's about it.  I can't paint.  Can't do anything involving wires or pipes, leakages or the toilet.  Can't change the oil in the car.  Doesn't even know how to open the hood, in fact.  Can't change tires or do anything about tire pressure, obviously.  I can refuel, but the last time I did it, I left the engine on accidentally.  Despite working in IT support for 3 full years I have little idea how to fix computer issues.  My most common response is to remove the power when the computer is dead. 

Title: Re: What is your time worth?
Post by: dps on December 13, 2011, 06:22:32 AM
Quote from: Zanza on December 13, 2011, 04:01:27 AM
Quote from: Tyr on December 13, 2011, 03:06:15 AMOr would you pay more than you earn to get some extra convenience in life?
In some cases. Simple example: I never iron my shirts myself. It's not that I couldn't easily do that and it doesn't even take that much time, but I hate it so I rather pay so that someone else does it.

I think that's an important point.  It's not just a matter of how much time an activity might take and how much your time is worth, but how much you enjoy or dislike the activity enters into it as well.  For example, I actually kind of enjoy painting, so I don't see that I'd ever pay someone to paint a room for me.
Title: Re: What is your time worth?
Post by: Martinus on December 13, 2011, 06:58:39 AM
Quote from: Viking on December 13, 2011, 04:07:12 AM
My time gets sold at $250 per hour.

Is it what you get or what your employer gets?
Title: Re: What is your time worth?
Post by: Caliga on December 13, 2011, 07:37:27 AM
Quote from: Monoriu on December 13, 2011, 05:56:28 AM
Despite working in IT support for 3 full years I have little idea how to fix computer issues.
These days that actually makes you the rule rather than the exception.  Most of the people who know how to fix computer issues have long since been promoted to the level where they don't actually have to anymore. :)
Title: Re: What is your time worth?
Post by: Eddie Teach on December 13, 2011, 07:49:17 AM
Quote from: dps on December 13, 2011, 06:22:32 AM
For example, I actually kind of enjoy painting, so I don't see that I'd ever pay someone to paint a room for me.

I hate painting and I wouldn't either. Mainly because it's such an unnecessary task.
Title: Re: What is your time worth?
Post by: Razgovory on December 13, 2011, 07:49:36 AM
Pretty much nil.
Title: Re: What is your time worth?
Post by: Josquius on December 13, 2011, 08:10:07 AM
Quote from: Caliga on December 13, 2011, 07:37:27 AM
Quote from: Monoriu on December 13, 2011, 05:56:28 AM
Despite working in IT support for 3 full years I have little idea how to fix computer issues.
These days that actually makes you the rule rather than the exception.  Most of the people who know how to fix computer issues have long since been promoted to the level where they don't actually have to anymore. :)
Really?
When I was applying for jobs such roles seemed to have pretty high requirements.
And I couldnt get them.
Gah,.
Title: Re: What is your time worth?
Post by: Malthus on December 13, 2011, 09:09:46 AM
Quote from: Martinus on December 13, 2011, 06:58:39 AM
Quote from: Viking on December 13, 2011, 04:07:12 AM
My time gets sold at $250 per hour.

Is it what you get or what your employer gets?

I assume the latter ... I hesitate to say what my billing rate is. Needless to say, I personally do not get anything like it.
Title: Re: What is your time worth?
Post by: Ideologue on December 13, 2011, 09:48:21 AM
At a guess?  -$.25 an hour, and accelerating.
Title: Re: What is your time worth?
Post by: Viking on December 13, 2011, 09:49:27 AM
Quote from: Martinus on December 13, 2011, 06:58:39 AM
Quote from: Viking on December 13, 2011, 04:07:12 AM
My time gets sold at $250 per hour.

Is it what you get or what your employer gets?

Employer, but... that's just the list price... almost all contracts are fixed cost contracts. What offshore workers get paid can often be much more than 250 per hour net per month. But, that's what it costs per hour in principle.
Title: Re: What is your time worth?
Post by: Ideologue on December 13, 2011, 09:50:18 AM
How do you go about becoming an oil worker, anyway?
Title: Re: What is your time worth?
Post by: Richard Hakluyt on December 13, 2011, 10:04:20 AM
I find that there are tasks that I don't really mind doing and other tasks that I do. So I do the latter and avoid the former unless there is no alternative.
Title: Re: What is your time worth?
Post by: Rasputin on December 13, 2011, 10:47:46 AM
Quote from: Martinus on December 13, 2011, 06:58:39 AM
Quote from: Viking on December 13, 2011, 04:07:12 AM
My time gets sold at $250 per hour.

Is it what you get or what your employer gets?

exactly

i charge 350 per hour

in reality i only make about 250 per hour i work but there's no causal connection because my comp is really based on the business i generate not how much i personally work

i usually generate that business with very little investment of my personal time
Title: Re: What is your time worth?
Post by: DGuller on December 13, 2011, 10:58:38 AM
That's an interesting question.  There used to be a time when I could win $40 an hour playing poker online, before online poker dried up.  Eventually I greatly reduced my poker playing time just because it became a mindless grind that took up a limited amount of free time that I had.  Playing poker didn't have a negative fun factor for me, but it had nearly zero positive fun factor.  So I guess my time is worth more than $40 an hour.
Title: Re: What is your time worth?
Post by: The Brain on December 13, 2011, 11:00:15 AM
I do my job and pay others to do theirs.
Title: Re: What is your time worth?
Post by: Ed Anger on December 13, 2011, 12:03:09 PM
Quote from: Ideologue on December 13, 2011, 09:50:18 AM
How do you go about becoming an oil worker, anyway?

http://www.halliburton.com/careers/default.aspx?pageid=1901&navid=756
Title: Re: What is your time worth?
Post by: garbon on December 13, 2011, 12:11:46 PM
Nope. I used to have that thing where'd drive out of my way for cheaper gas but between driving more and then only saving like 5-10 cents/gallon, I decided it was silly. I do it still though when the difference is like 40 cents or more.  However, I still use card even when it is 5-10 cents cheaper to use cash at a station. -_-
Title: Re: What is your time worth?
Post by: derspiess on December 13, 2011, 12:18:48 PM
I bill $175 an hour (all goes to the company but whatever).  For stuff on the side I bill anywhere from $25 to $100 an hour.

I'll often spend some extra time/effort to save money or get in on a deal, but a lot of that is about the thrill of the hunt.  But I hate waiting in line and will not put deal-hunting ahead of quality family time or enjoying Thanksgiving, etc. so I draw the line at Black Friday-type nuttiness.

Having kids sure as shit makes you appreciate how valuable time is.  Just wish that made me better at *managing* my time :mellow:
Title: Re: What is your time worth?
Post by: Brazen on December 13, 2011, 12:25:26 PM
Actually, there is one thing I'm perfectly capable of but don't do, and that's wash my car. My flat is two floors up with no access to water at ground level - that would be a lot of trips up and down stairs and door unlocking. Once a year (that's plenty, I don't drive much and I keep my car in a residential car-park so there's so dirt or fumes) I take it to the car wash place where for £12 a bunch of Poles and Romanians clean and polish it inside and out to a far higher standard that I'd be capable of while I have a complementary cup of tea and watch the news or catch up on scurrilous tabloid stories in the waiting room.
Title: Re: What is your time worth?
Post by: Ed Anger on December 13, 2011, 12:27:01 PM
I have scantily clad cheerleaders wash my car. Jailbait in jean shorts and bikini tops? BINGO.
Title: Re: What is your time worth?
Post by: Ideologue on December 13, 2011, 12:33:44 PM
I don't wash my car.  That's what rain is for.
Title: Re: What is your time worth?
Post by: Admiral Yi on December 13, 2011, 12:48:25 PM
Do you have automatic car washes in Great Britain?
Title: Re: What is your time worth?
Post by: garbon on December 13, 2011, 12:54:10 PM
Quote from: Ideologue on December 13, 2011, 12:33:44 PM
I don't wash my car.  That's what rain is for.

When I picked up my car from the lot where it'd sat for 2 months and birds had a field day...rain couldn't do enough. :(
Title: Re: What is your time worth?
Post by: mongers on December 13, 2011, 12:54:35 PM
Quote from: Admiral Yi on December 13, 2011, 12:48:25 PM
Do you have automatic car washes in Great Britain?

:huh:
Title: Re: What is your time worth?
Post by: DGuller on December 13, 2011, 12:55:33 PM
Quote from: mongers on December 13, 2011, 12:54:35 PM
Quote from: Admiral Yi on December 13, 2011, 12:48:25 PM
Do you have automatic car washes in Great Britain?

:huh:
Those things that wash your cars automatically, rather than manually? :contract:
Title: Re: What is your time worth?
Post by: PRC on December 13, 2011, 01:07:36 PM
Quote from: Ideologue on December 13, 2011, 09:50:18 AM
How do you go about becoming an oil worker, anyway?

Drive up to Fort McMurray and ask around.
Title: Re: What is your time worth?
Post by: mongers on December 13, 2011, 02:06:38 PM
Quote from: Ideologue on December 13, 2011, 09:50:18 AM
How do you go about becoming an oil worker, anyway?

Strangely I got mine from a very good temping agency; one that didn't have anything suitable for me, iirc they said most of their stuff was rather too mundane for me, and that they'd get back to me.... and they did.
Title: Re: What is your time worth?
Post by: Ideologue on December 13, 2011, 02:09:44 PM
I actually looked at the Halliburton thing, and most/all seemed to require engineering or at least voc school type credentials/experience.
Title: Re: What is your time worth?
Post by: mongers on December 13, 2011, 02:16:30 PM
Quote from: Ideologue on December 13, 2011, 02:09:44 PM
I actually looked at the Halliburton thing, and most/all seemed to require engineering or at least voc school type credentials/experience.

Viking is your 'go to man' here. 

For what it's worth there are quite a few jobs in the industry that don't require that, you could get a service job with one of the contractors and then move sideways or jump ship into another related area ?
Title: Re: What is your time worth?
Post by: Ideologue on December 13, 2011, 02:20:52 PM
Networking on Languish?  Sure, that could work.  Shame there aren't any lawyers on here.
Title: Re: What is your time worth?
Post by: mongers on December 13, 2011, 02:26:06 PM
Quote from: Ideologue on December 13, 2011, 02:20:52 PM
Networking on Languish?  Sure, that could work.  Shame there aren't any lawyers on here.

:D

Oh, I meant for general advice, though given Viking is a well travelled guy, he might have useful US contacts.
Title: Re: What is your time worth?
Post by: Valmy on December 13, 2011, 02:31:46 PM
Not much....but probably too much to spend anymore of it here today  :blush:
Title: Re: What is your time worth?
Post by: Ed Anger on December 13, 2011, 04:29:50 PM
Quote from: Ideologue on December 13, 2011, 02:09:44 PM
I actually looked at the Halliburton thing, and most/all seemed to require engineering or at least voc school type credentials/experience.

http://rockcenter.msnbc.msn.com/_news/2011/10/27/8495501-now-hiring-north-dakota-oil-boom-creates-thousands-of-jobs
Title: Re: What is your time worth?
Post by: Barrister on December 13, 2011, 04:41:45 PM
Quote from: Ideologue on December 13, 2011, 02:09:44 PM
I actually looked at the Halliburton thing, and most/all seemed to require engineering or at least voc school type credentials/experience.

All the rig pigs out here seem like all they need to get started is an H2S safety ticket and they're good to go.

Mind you those are unskilled labour positions.  If you want something higher then yes, you need more qualifications.

Ideo - if you were in Alberta I'd just have you talk to my brother-in-law, who runs a rig for one of the big drilling companies - he's a push, essentially the foreman of the rig.  But for North Dakota I don't have any idea.
Title: Re: What is your time worth?
Post by: mongers on December 13, 2011, 05:40:14 PM
Quote from: Tyr on December 13, 2011, 03:06:15 AM
As I've posted in the OTT I've never had a puncture on my bike in my life yet here in Japan it seems to be happening a hell of a lot.
I've never had to fix a puncture before and it is quite a long and reasonably difficult process. Painful too.
At a bike shop...fixing a puncture costs 1000 yen...
Now...this does seem rather a lot of money for something which you can do at home. Yet...I'm earning pretty good money these days...its painful but...1000 yen for an extra hour to do what I want/sleep/whatever is pretty nice.

.....

I'd say you should fix your own punctures as it good practice if you ever have to do it out and about.

Today I've had a situation very similar to what you describe; I wanted a rack for my road/urban bike, so I got my local bike shop to order one, fit it and true the rear wheel, which is a bit of a black art you can either do it or not (bodging it to be sort of true is also not) and I can't do it for some reason.

I was more than happy to pay the $50 an hour rate for a skill I don't have, and they found the ideal rack for the bike and fitted it in a very neat way, otherwise I might have bought an inferior one and ended up with a not so good fit.  As it is they gave me some free 2nd hand spares for my run around bikes and over all I'm far more likely to use them again for all sorts of things anyway.

So for the right service I'm willing to pay about $50 an hour, but for most things I'll do it myself or try and repair stuff.
Title: Re: What is your time worth?
Post by: Maladict on December 15, 2011, 03:58:50 AM
Quote from: Tyr on December 13, 2011, 03:06:15 AM
As I've posted in the OTT I've never had a puncture on my bike in my life yet here in Japan it seems to be happening a hell of a lot.
I've never had to fix a puncture before and it is quite a long and reasonably difficult process. Painful too.
At a bike shop...fixing a puncture costs 1000 yen...
Now...this does seem rather a lot of money for something which you can do at home. Yet...I'm earning pretty good money these days...its painful but...1000 yen for an extra hour to do what I want/sleep/whatever is pretty nice.

Replacing a tire takes about 10-15 minutes, probably less time than it takes to take your bike to the shop and back.
You lost both time and money.  :)
Title: Re: What is your time worth?
Post by: Richard Hakluyt on December 15, 2011, 04:10:54 AM
Yes, there is a knack to changing tyres and once you have it then it only takes a few minutes. So, especially if it is happening a lot, learn how to do it...........apart from anything else it saves you from wheeling the bike home.

Hint.....buy some proper tyre irons, they help a lot.
Title: Re: What is your time worth?
Post by: Razgovory on December 15, 2011, 05:23:13 AM
Quote from: Barrister on December 13, 2011, 04:41:45 PM
Quote from: Ideologue on December 13, 2011, 02:09:44 PM
I actually looked at the Halliburton thing, and most/all seemed to require engineering or at least voc school type credentials/experience.

All the rig pigs out here seem like all they need to get started is an H2S safety ticket and they're good to go.

Mind you those are unskilled labour positions.  If you want something higher then yes, you need more qualifications.

Ideo - if you were in Alberta I'd just have you talk to my brother-in-law, who runs a rig for one of the big drilling companies - he's a push, essentially the foreman of the rig.  But for North Dakota I don't have any idea.

You have to be fairly strong for that work.  I hear the pay is good, but you need to have a lot of endurance and lifting power.
Title: Re: What is your time worth?
Post by: Josquius on December 15, 2011, 06:44:47 AM
Quote from: Maladict on December 15, 2011, 03:58:50 AM
Quote from: Tyr on December 13, 2011, 03:06:15 AM
As I've posted in the OTT I've never had a puncture on my bike in my life yet here in Japan it seems to be happening a hell of a lot.
I've never had to fix a puncture before and it is quite a long and reasonably difficult process. Painful too.
At a bike shop...fixing a puncture costs 1000 yen...
Now...this does seem rather a lot of money for something which you can do at home. Yet...I'm earning pretty good money these days...its painful but...1000 yen for an extra hour to do what I want/sleep/whatever is pretty nice.

Replacing a tire takes about 10-15 minutes, probably less time than it takes to take your bike to the shop and back.
You lost both time and money.  :)
Replacing a tire is a bit wasteful and expensive though no?
Title: Re: What is your time worth?
Post by: Maladict on December 15, 2011, 07:09:18 AM
Quote from: Tyr on December 15, 2011, 06:44:47 AM
Replacing a tire is a bit wasteful and expensive though no?

What do you think they do at the bike shop?
Title: Re: What is your time worth?
Post by: Josquius on December 15, 2011, 07:16:16 AM
Quote from: Maladict on December 15, 2011, 07:09:18 AM
Quote from: Tyr on December 15, 2011, 06:44:47 AM
Replacing a tire is a bit wasteful and expensive though no?

What do you think they do at the bike shop?

No idea. Its cheaper than replacing a tyre though.
Title: Re: What is your time worth?
Post by: Maladict on December 15, 2011, 08:05:19 AM
Quote from: Tyr on December 15, 2011, 07:16:16 AM
No idea. Its cheaper than replacing a tyre though.

They replace the inner tube. Those are dirt cheap, and usually they've got a stash of spares from old bikes.