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Time management tip -
Calculate the cost of your time

Manage your time more efficiently when you know what your time costs.

 

 

 Put a Price on Your Time

Sure, you know time management is important. You can get more done if you manage your time efficiently. But knowing you will be able to get more work done if you take charge of your time, may not  be much of an incentive to make changes.

But, when you put a price on your time, time management takes on a whole new perspective.  Answer the questions below to calculate the value of your time. Only enter numbers, an example is that $30,675.50 would be entered as 30675.50. 

When you're done, calculate how much it costs you each month if you waste 20 minutes a day searching for things on your cluttered desk.

1. What is your annual salary?
2. How many weeks a year do you work? (Do not incude vacation weeks.)
3. How many hours a week do you work?
4. What is the annual cost of your fringe benefits?
(Usually about one-third of annual salary.)
5. What are the overhead costs necessary to maintain your office?
(rent, equipment, heat, lighting, telephone, etc.)
6. What are your annual expenses for travel, conventions, etc.?
7. What is the annual cost of salary and fringe benefits for your staff?
8. What are the annual overhead costs to maintain your staff?

 

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