What is your personal hourly rate?

February 1st, 2012 by Gallagher John No Comments

As I type this blog post, I am on hold with a large computer company(I won’t say the name, but the initials are HP!!) debating whether or not they will replace a faulty printer cartridge that I recently purchased.  (Even with the receipt, I was unable to return to the original supplier for a replacement since I did not have the original packaging, but that is a story for another day!)

Photo from cartoonstock.com

I am often frustrated by the value that I don’t get returned for the time I invest.  Sometimes it may cost more than it is worth.

Do you know your hourly rate for your personal time?  It’s easy to calculate:

Target annual personal income / 2,080 (approx work hours in a year) = Hourly rate for your time

You can use this calculation to see if you are wasting more time on something than it is worth!  That project you are working on so you don’t have to call the contractor…. How many hours do you have in it????  What is it costing you?  Of course, sometimes cost is not the only variable that is important with your time.  There is family time that is priceless.  There is personal development time that increases your personal value. 

But, sometimes, the time it takes to do a task is simply not worth it.  I have now been on the phone for 25 minutes.  This ‘free’ replacement cartridge is costing me a lot of money!!!!

So, what is  your hourly rate????  What do you need to STOP doing that costs more than the time invested?