The Value Of Time

“Yesterday is History, Tomorrow a Mystery, Today is a Gift, That’s why it’s called the Present”

Not sure whose quote this is. Sure time has value. It is a non-renewable resource and we either make something of it — or it’s wasted.

But calling time a present is spiritual and directional.  I seek order of magnitude.

Normally I do not have a basis for the dollar value of time.  I get paid a salary, but not an hourly wage. I allocate time to work as need and it tends to need quite a large portion of the available hours. I therefore value any time not working, especially vacation days.

So now to the point of this all. Between now and December 31, 2010 I know exactly how much a day is worth. For reasons that are not material to the story, my company will be cashing out any unused vacation as of the end of the year. I just found out a few days ago. Every vacation day I take between now and then is worth 1/260 of my base salary. I make a decent base salary.

I had some days off planned.  For example, next Friday to make a long weekend around our wedding anniversary. I knew the cost of the hotel and meals, etc., but now the money I forfeit by taking the day off will more than double the cost. Ok, its my anniversary.

But what about the wedding in Philly we are going to next month. Do we leave Friday or Saturday. Leaving Friday I not only have cost of the extra night in the hotel but I lose another day’s pay. The flip side is that I have friends in Philly I would spend the day with. How much is that worth?

Another day after Thanksgiving. Then my wife wants to take a week in December and go somewhere warm. If I wasn’t getting paid for left over vacation days in 2010, I would have considered this a good idea. The week’s pay I would lose would pay for much of the same trip taken in 2011.

I grew up in a family that counted pennies.  That formed my nature. I fortunately do not need to budget so closely. This is however real money and there are so many things we want to do to our house and I am still paying for college.

What’s the value of time? More this year than next. Curse my employer for doing something good.

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About 48facets
What you read is what you get.

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