How Much is Your Time Worth?

19 January 2018

How many days of your labour do you spend paying bills vs. the amount that you invest towards your dreams? Today, we are going to do that calculation so that each time you spend, you will be more aware of how much that new item truly costs you and how much work you have done to make this new purchase a reality. You work hard for the money, so treat yourself right in 2018.

To calculate how much you earn, please complete the table below.

My Earnings Per Day and Per Hour

My gross monthly earnings	*E.g. J$100,000*
# of Days I work each month	E.g: 20 days
My Earnings Per Day = Gross salary/ # of days worked each month	E.g.: J$100,000 /20 = J$5,000 per day
Average # of hours I work per day	E.g: 8 hours
My Earnings Per Hour = Earnings Per Day/# of hours I work per day	E.g: $5,000/ 8 = $625 per hour

I earn an average of J$______________ per hour.

My Budget

Now that you know how much you earn per day and per hour, it is important to examine how much of your time and energy/ labour are you spending and where is it being spent? You can use this template below as a guide.

Expenditure	$Amt. Spent	Days/ Hours of My Labour Spent	% of my Labour
*Example : Utilities*	$20,000	Expense/ Labour Cost per hour/day $20,000 = 4 days $5000	Days spent on expense/ Total Days worked per week 4 days = 20% 20 days
Household Bills: (including utilities, strata fees and groceries)
Loans (mortgage, car loan, hire purchase, credit cards etc.)
Other expenses
Clothing and beauty supplies
Health care
Personal Development (e.g. school fees and/or books, short courses
Retirement savings for a brighter tomorrow
Financial goals (e.g. home etc.
Insurance (such as life, health, motor etc.)
TOTAL

Are you comfortable with the amount of your time and effort/labour that goes towards helping you to achieve your dreams and have a better quality of life in the future while balancing your expenses?

If you want to change how you spend your money, the JMMB Group can help you to: 1) consolidate loans; 2) explore the most suitable and/or affordable insurance packages 3) determine how much you need towards your financial goal/s, whatever it may be; and 4) introduce you to our JMMB Wealth Builder which earned between 7.21% and 14.83%* (between December 1, 2016 and December 31, 2017).

We want to help you, so please give us a call on 998-5662.

*Based on no withdrawals being made.

Written by: Michelle Sinclair-Doyley, Manager, Client Financial Education, JMMB Group