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Time = Money

Anonymous ID:H5jCy2JP Sun 25 Oct 2015 11:29:58 No.936680 View Reply Report Delete

sup /biz/,

We all know that "Time is Money," but do you actually apply that to your life?

Related: Searching for a place to rent and considering the time spent on commute as an increase on rent.

Anonymous

Anonymous ID:goX5rXca Sun 25 Oct 2015 12:13:32 No.936726 Report Delete

Quoted By:

Absolutely. To me, this means knowing when to do something yourself and when to hire it out.

Anonymous

Anonymous ID:LhEW5SRa Sun 25 Oct 2015 12:16:17 No.936729 Report Delete

Quoted By: >>936764

>>936680
How do you justify your time rate?

Anonymous

Anonymous ID:t1RjZ4N0 Sun 25 Oct 2015 12:34:35 No.936750 Report Delete

Quoted By: >>936764

>>936680
Do you earn 55k?

Anonymous

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Anonymous ID:H5jCy2JP Sun 25 Oct 2015 12:51:07 No.936764 Report Delete

Quoted By: >>936766 >>937961 >>938296

I actually fucked this up and forgot to consider the in the math that commute includes 2 trips per day. Revised version posted.

>>936729
>How do you justify your time rate?
This guy got it, >>936750. The time rate is just my salary converted to an hourly rate and then divided into minutes.

I would increase my time rate because I consider free time to be important to me, but then I would feel conceited.

>tfw my time is only as valuable as my wage ( ._.)

Anonymous

Anonymous ID:g3MWPfyg Sun 25 Oct 2015 12:53:54 No.936766 Report Delete

Quoted By: >>936781 >>936814 >>936816 >>938340

>>936764
Yes time is money. So with the time saved on a shorter commute how will you be making money? If shortening the commute doesn't actually increase your wealth then this is retarded.

Anonymous

Anonymous ID:H5jCy2JP Sun 25 Oct 2015 13:12:45 No.936781 Report Delete

Quoted By: >>936786

>>936766
It's a way to monetize lost free time, happiness (utility), etc.

For instance, if I lived in the most distance place compared to the closest, I would waste basically waste an hour of my life every day. That may be acceptable if distance and price were inversely related in order to do some trade-off analysis. It's not the case though and this spreadsheet compounds the fact that the most distant places are just not worth it to me.

Anonymous

Anonymous ID:g3MWPfyg Sun 25 Oct 2015 13:20:08 No.936786 Report Delete

Quoted By: >>936829

>>936781
Then it's a matter of preference, not cost. So it doesn't make sense to relate it to your salary.

Anonymous

Anonymous ID:JT3ohvmQ Sun 25 Oct 2015 13:45:04 No.936814 Report Delete

Quoted By: >>936818

>>936766
Pretty clear you don't really understand the time is money concept.

Anonymous

Anonymous ID:t1RjZ4N0 Sun 25 Oct 2015 13:45:50 No.936816 Report Delete

Quoted By:

>>936766
>shortening the commute doesn't actually increase your wealth
Stay poor, pleb.

Anonymous

Anonymous ID:g3MWPfyg Sun 25 Oct 2015 13:48:11 No.936818 Report Delete

Quoted By: >>938328

>>936814
Opportunity cost. If you wouldn't be doing anything worthwhile then your opportunity cost is 0.

Anonymous

Anonymous ID:H5jCy2JP Sun 25 Oct 2015 14:05:54 No.936829 Report Delete

Quoted By: >>936857

>>936786
>Then it's a matter of preference, not cost.
Absolutely true.

>So it doesn't make sense to relate it to your salary.
I would disagree here, however. Salary is the easiest heuristic I have for putting a value on my time, especially because I get literally nothing positive from driving; it's all wasted time/fuel. If I was doing some kind of productive work that I may get something out of, then perhaps I would drop the rate, but this is isn't the case.

In addition, I don't know how else to measure its value.

Anonymous

Anonymous ID:g3MWPfyg Sun 25 Oct 2015 14:29:05 No.936857 Report Delete

Quoted By:

>>936829
Okay, if you don't think assigning a dollar figure to your personal preference is arbitrary then you must ask yourself at what dollar figure is the inconvenience too much?

I've also thought like this once. But at the end it all comes down to how bad you want that free time.

Anonymous

Anonymous ID:q8VG40Bg Sun 25 Oct 2015 16:27:28 No.936988 Report Delete

Quoted By:

It's a cost in the sense of quality of life
My commute is 20 min. and that's pushing it for me

Anonymous

Anonymous ID:DmLqI8R4 Mon 26 Oct 2015 18:03:02 No.937961 Report Delete

Quoted By: >>938285

>>936764
204 Lisa Ln sounds like a winner to me.

Anonymous

Anonymous ID:dUPU4IkN Tue 27 Oct 2015 00:34:26 No.938285 Report Delete

Quoted By:

>>937961
This..was thinking the exact same thing

Anonymous

Anonymous ID:pVR/E5Wx Tue 27 Oct 2015 00:48:18 No.938296 Report Delete

Quoted By:

>>936764
well it would make sense that you should consider this time to be more valuable than your wage, because of diminishing marginal utility, no? if you give up your 8th hour (work) at $w, then your 9th hour (commute) should be $w+x, because it removes an additional free hour. this isn't perfect, though, because maybe you actually would prefer to work 5 hours/day for less money but are forced to work 8, for example.

really jealous at those cheap as fuck rents

Anonymous

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Anonymous ID:89L4RfLq Tue 27 Oct 2015 01:25:58 No.938328 Report Delete

Quoted By:

>>936818
Part of finding new things to do with your time is having the time to do them.
Counting time as a special non renewable asset, means that is precious beyond words and you should do all you can to protect it.

It is extremely flexible. Forgot to grab your lunch today, just pop back home and grab it. If not you're stuck buying restaurant food.

Time is more often than not the only available correction factor in adjusting for Risk and Error.

Fucked up with your job, need time to go to night school and fix it. Fucked up your money, need to work some over time, alrighty then. Boss fucked up needs more overtime, alrighty then.
This is also strongly Correlated to energy. I don't know about you but, sitting through shitty traffic in my car sucks no matter how great the podcasts are. Less driving = less aches and pains = better sleep = less bad decisions = less = less waste overall= more growth = more opportunities for growth = compounding charts and synergistic growth patterns

Anonymous

Anonymous ID:wpUFQ1Rf Tue 27 Oct 2015 01:35:02 No.938340 Report Delete

Quoted By:

>>936766
>saves gas
>saves wear and tear on the vehicle
>less stress
Oh look. It saved money. And his health.

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