Economics Of Delegating: Find Out How Much Your Time Is Worth

by | August 25, 2014

One of the most convincing arguments for delegating is basic economics: comparing the cost of doing a task yourself to the cost of delegating it to someone else. Easy right?

Now how would you go about determining your hourly rate? You bet more goes into it than just looking at your pay.

To answer the question how much an hour of your time is worth the team over at Clearer Thinking created this interactive tool. What’s awesome is that it goes way beyond your income to calculate the value of your time. Getting this thorough gives you the data needed to answer questions like:

  • Whether to take on additional part-time work, and at what rate.
  • Whether you should try to scale down your hours at your current job.
  • How long you should wait in line for a free item.
  • Whether taking a cab is worth the extra cost.
  • Whether it’s worth it to hire a personal assistant, a laundry service, or other help.

Take special note to that last bullet. If you’re on the fence about hiring a ZA taking 10 minutes to complete the calculator may help clarify the decision. Once you find out exactly what your time is worth you can compare it to the hourly cost of a Zirtual Assistant.

Of course there are more factors in placing a value on your time than just money. Let’s say you’re about to jump on a cross-country flight with no wifi but forgot to arrange a car when you land. At that point you just need to have the task done so having access to an assistant is invaluable.

It’ll be incredibly valuable in the long run so go ahead and calculate how valuable your time is.