Friday, 5 August 2011

The Value Of 60 Minutes

Before you can embark on a journey to conserve and effectively use your time, you must realize the value of your time.
Unless you can correctly appreciate how valuable each hour of your time is, you will not understand the importance of saving it.

Now, one way to realize this value is through actual figures, by equating time with money. For this, you just have to divide your total monthly income by the number of hours you work each month.
 Let us assume a person is earning $4500 a month and works 8 hours a day. 8 hours of work for 5 days a week is equal to 176 working hours a month.
Therefore, the value of his time is: 4500/176 which is equal to nearly $26.

Now you might say that $26 is not a huge amount and you can afford to not work for an hour and manage with $26 less in your account.
But an hour at work wasted daily will mean that you lose around $572 a month, which further means that you lose $6864 a year. And I am certain that you will agree with me that $6864 is no small figure!

Now often the case is such that for each hour wasted, you do not necessarily have $26 less transferred to your bank account, but you lose the potential of earning $26 more each day. If you could cut down on that hour wasted each day, you stand to potentially gain $6864 a year!

If you can improve your Time Management skills and learn to add an hour to your day, you give yourself a chance to earn way more than you do currently. Trust me folks, adding another productive hour to your day is not something achievable only through Time Travel, and this extra hour of work does not even leave you exhausted at the end of day.

So I would recommend you to first calculate the value of your Time in order to realize exactly what you lose every time you spend idle hours on Facebook or YouTube. And once when you have understood the importance of your own time, you can make an effort to use it more wisely!

All the Best!

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