We all know the famous motto “time is money” and repeat it very often to ourselves and to other people. Apparently the majority us uses this phrase figuratively without any idea of how much our time is actually worth. In case you are an employee and have a regular job, you obviously know your salary and know how much your working hour costs. However it’s not this easy for those individuals who are engaged in business. It’s crucial for online business owners, freelancers, bloggers and any other people working on the Internet to know their working time value. Do you know how much your time is worth and how many hours you need to work per day or per week to earn certain amount of money? If you don’t, here is a helpful formula.

Obviously you should start from setting your monetary goal, which is actually the very amount of money you want to make within a fix period of time, for example, within one year. Let’s imagine that you want to make $300,000 working 8 hours every day. For most people this is 264 working days per year but note that you should also subtract at least 14 days of vacation per year. So we multiply 250 working days per year by 8 hours and have 2,000 working hours. $300,000 divided by 2,000 is $150 an hour. At first sight the final figure is really great but unfortunately, it’s not entirely true because no more than two working hours are truly productive each day. All the rest of hours you spend on phone calls, emails and so on are not truly productive and do not produce any wealth. So the final value of your 2 productive hours in a day is $600 an hour.

Knowing the value of your two truly productive hours a day is a key to your financial success and accurate planning, though some people may consider this number to be unimportant. Anyway how much your time is worth?

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