I’ve blogged about my eternal struggle to balance time and money in the past:

Anyone have a wife to spare?

When you finally have less time than money.

The eternal balance between time and money.

Today I stumbled upon a detailed time value of money calculator that allows you to calculate the value of one hour of your time after loading in variables such as income, taxes, work expenses, child care, etc.

According to the calculator, I net a little more than $15 per hour after expenses such as child care, commuting costs, work clothes (even if I didn’t work I doubt I’d resist the lure of the mall).

It also asks you questions about how much time you spend sleeping, taking care of kids, doing household chores and exercising. I’m not 100% sure that my answers are accurate since I think often times I’m taking care of kids while doing chores and considering it exercise.

Based on the figures I entered: 7 hours per night sleep, 12 hours weekly of household chores, 26 hours of child care, and 8 hours of exercise and grooming, I have about 34 hours in leisure time, each “purchased” by 1.19 hours of work time, or $18.50, the calculator explains. That’s after work hours of course. And I haven’t figured out if it adds up to 24 hour days.

Its conclusion? If I have $18.50 in my pocket and can find someone to perform a task I’d rather not do for less than that, it would be worth it from a time value of money perspective to hire that person.

But as we all know, there’s only so much money and so much time to earn it. So as lovely as that sounds, most of my

This entry was posted on Tuesday, August 28th, 2007 at 10:07 am and is filed under Main, time vs. money. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.