Your Boat Has a Leak

I frequently use the phrase “my boat has a lot of leaks” to convey the number of ways my family wastes money.  But as much as I preach otherwise, the largest “leaks” in my household aren’t Target, JCrew, Earth Fare, or Lowes.

The largest sources of wasted money in my life are the hours and minutes I waste each day.  As I wrote in a recent post, each one of us has a market value.  Boil that market value down to an hourly rate, and you can put a finer point on how much your time is worth. As an example, if you make $150,000 per year, your time is worth $72 per hour.

So the question is, what are you doing with your time?  Are you blowing $150 a day surfing the web and catching up with high school friends on Facebook?   Or are you doing productive work?

If you take the time to look (a suggestion:  write down, at the end of a work day, what you spent your time doing), I’m willing to bet you’ll find a leak or two that you didn’t realize existed.

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3 Responses to “Your Boat Has a Leak”

  1. Mr. Z Says:

    Interesting concept, if your an accountant…thing is your not, you’re an artist. When I started working from a home office my wife would often (very often in fact) barge in to my lair and declare that I needed to do this or that for her (open a jar, watch the kids, change the laundry whatever) When I protested that I was working, she would say “your staring out the window, your not working” fact is I stared out that window a lot, but it I wasn’t doing nothing. I was thinking, plotting, scheming. Seth made a comment once about its not how much you do, it’s what you do. I firmly believe that. I think a lot of really effiecient people do a shit load more during a given day but much of it is busy work. I would rather do one really great thing every day that takes 15 min. than do hundreds of things during the day that take 10 hours but none of them matter much.

  2. Mark Says:

    This is a great post. The idea of effeciency is the whole basis behind this. You have to ask yourself, “Am I willing to pay $150 to do busywork” or am I interested using this time that i have now to perhaps increase my hourly rate. There is certainly an art to sales, but the minute we loose grasp of the fact that this is also a numbers game, we are doomed to mediocrity.

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