How to calculate your personal value - Evolved Mommy
How to Calculate Your Personal Value
Time is the one thing you can’t buy back. Ever. So, a long time ago I calculated my hourly rate based on what I wanted to earn in a year (not just from blogging) and I apply that to everything I do. A quick way to do this is using the salary/hourly formula. If you make $50,000/year divide that by 2080 (the number of work hous in a year based on a 40 hour work week).
$50,000/2080 = $24.04
In this case an hour of your time is worth $24.04. If it takes you 2 hours from start to finish (including research, writing, sourcing photos, uploading photos, adding links, hitting “publish” and then sharing it out, that post cost you $50.
You may not have forked over $50 to write that post, but what this does is keep you realistic and efficient with your time. There may be one more thing you can add to that post, but is it worth another $25 of you life?
This formula isn’t perfect, but its a great way to stay focused on what brings value.
The Internet is a wonderfully distracting place, and its easy to start a post about a tech tip, only to realize two hours later I’m needlessly browsing Pinterest.
Bonus activity: if you make $50,000/year now, but want to make $100,000 in the next year calculate your hourly rate based on your goal number.
$100,000/2080 = $48.08
Now each hour of your time is worth $48.08. If you are doing something that nobody would ever pay you $48.08 per hour to do, stop it. Move on to the bigger project and focus your energy there.
What do you think? Should you calculate the dollar-value of everything you do, including personal activities?