Time is money...but what's your time worth?

salvo69

I have been a keen forum member nad have picked up many tips to reduce my outgoings and clear my debt.

My question is what amount of time do you spend roughly per week and how much does that get you in monetary value? What is your hourly rate?

I sometimes spend 25 minutes doing surveys and only gain 50p or £1 per hour, I know every penny counts but is there a limit to the time you should spend on these activities.

My example means I spend less time with my wife all for a £1 off my credit card :eek: is it worth it?

InsertWittyName

Good idea for a thread.

I did a few surveys previously and stopped for the same reasons as you.

I value my time at £15 per hour (before deductions). Anything less than that isn't worth it for me.

Lensman_2

The law measures your time (Litigant in Person rate) at £18 per hour.

I am hoping I don't need to know any more than this on my debt laden journey...

SusieT

Good point, I suppose that if it was possible to get a job for 5 hours a week at minimum wage it would be far more profitable than doing surveys. Just a shame that there are not those sort of jobs aroundfor those with a few hours to spare or for people currently on job seekers (without losing benefits or having to go through masses of red tape) and unable to get a full time job.

salvo69

I wonder if my time is better suited to education to increase my earnings as opposed to surveys. I have done all the major things to clear debt and dont have skills I can easily raise cash. My friend is a joiner and hangs doors (5 mins work) for £80!

InsertWittyName

salvo69 wrote: »

I wonder if my time is better suited to education to increase my earnings as opposed to surveys. I have done all the major things to clear debt and dont have skills I can easily raise cash. My friend is a joiner and hangs doors (5 mins work) for £80!

I would say a vocational qualification would be better suited than an academic one, based on personal experience

DreamerV

InsertWittyName wrote: »

I would say a vocational qualification would be better suited than an academic one, based on personal experience

I agree with this. I gave up a fairly low paid government job (£7.20 an hour) to go back into education, which has cost me a loss of £45000 in earnings, and cost me fees and loans to be repaid. A job I have had as a result has given me £6.10 an hour (I'm a 1st Class student, who gets on with staff and students, who does a lot of extra curricular and helps with training). Granted it's just a placement for now, but even after graduation, I'm looking at around the same amount I earned as a civil servant. (Although this should increase after a further 3 years, IF I find a job....that is not that easy just now)

Education just doesn't seem the answer just now... (Vocational training sounds much more useful).

Oh, and I value my time around £7.50 an hour, unless it gives me other benefits such as learning or is CV-boosting (like my £6.10 an hour placement). However, at home, on the laptop doing surveys, etc. I'll work for very little if it's just while watching TV etc. But then I don't have family.

salvo69

What examples of vocational courses does anyone suggest?

Mach4

try the matched betting board, you can make a good £20 an hour tax free (posibly you should declare survey income) for the first couple of k anyway.

broad-sword_2

I do surveys at lunchtime (I'm getting paid anyway) and when I have a bit of spare time. It's tax free and easy - I get a buzz and the wife gets her vouchers. I'm currently getting O/T every week to earn the real stuff, and whilst my views are my own, I would take everything while you can.