What’s your time worth?

    800 450 Lisa Steingold

    I was thinking about Theresa May yesterday; not in the “I wonder if she wants to be my friend” kind of way but more in a “I wonder if it’s worth it” kind of way. Let me clarify from the outset of this post that I wish to make no reference to her political choices besides I think she’s had her fair share of grilling of late in the #Brexittales.

    What I was wondering is, is it worth it? Has all the grilling and talks and manoeuvring been worth it for her? Does she go to bed at night feeling like this is the path she wants to be on or does she wonder why she didn’t listen to her mother and study medicine instead. (Complete creative indulgence on my part here I must admit).

    I began thinking this because I was wondering what my time is worth to me? Money can be made and lost and the cycle repeats but time; once gone is gone forever. Apologies for the cliché but it’s hard to avoid given the subject matter.

    You can interpret the loss of time in a “OMG I’ve wasted my life” kind of way or you could think about it in a “how might I like to spend my time in future?” kind of way. To start off this exercise I thought it best to try quantify it. For example I’ve decided my time is worth at least R18 000 (roughly £1000) an hour. It’s not to say I earn that per hour. In fact for the sake of my own sanity I’m going to keep my personal financials out of the equation but irrespective of what I earn, that’s what it’s worth to me and one only needs to look at the likes of Ferrari, Chanel and Tag Heuer to see that worth is irrelevant  to cost. In other words worth and value are price inelastic to the actual cost of something, for those economists reading this. Value is decided upon or market forces create it; usually both.

    What’s your number? Yes I mean in hard currency! What’s your number?

    I’ve found it quite helpful to quantify my time in this manner. As we humans are so conditioned to seeing the value of money but not time, I’ve just used a little psychology on myself to help make better decisions and see what happens. Now every activity becomes an investment decision and an exercise in opportunity cost. It’s a fun little game I’ve begun playing to see how I behave differently. Interestingly I have changed how I spend my time but more about that another ‘time’.

    This brings me back to dear Ms May. Sometimes you invest and invest and invest and you get nothing back. This is how I imagine she sees her plight at times (indeed many others see it that way) although I have to hand it to her, she’s shown a real determination to see things through in the antics called Brexit.

    Sometimes when we invest time we get nothing back but a lesson that either our approach needs changing or we need to change tack entirely. And sometimes it just is a waste of time and c’est la vie to that.

    Just thought you may want to share in the game. Have a rocking week!




    PS I’ve got my bicycle back so happy to ‘invest’ a good couple hours in the weeks to come on that:-)


    Lisa Steingold

    All stories by: Lisa Steingold