Wealth of Geeks

If you’re like most people, you haven’t distilled your free time down into a dollar figure. But it’s important when looking at making more money or finding a proper work-life balance.

What’s the point of figuring out the value of your free time?

You might want to maximize your income. Maybe you’re looking to set better financial goals for yourself or spend more time at home with your family.

Whatever it is, understanding how much your free time is worth can help you make more informed decisions about how you spend your time inside and outside of an office.

Doing the Math

The first step to figuring out how much your free time is worth is to determine how much time you have available each week.

Of course, this will vary depending on your work schedule, family obligations like after-school activities for your kids, and other responsibilities. However, most people can estimate the average number of hours they have available for leisure activities per week.

For instance, if you get home from work at 6 PM and go to bed at 10 PM, you have roughly 4 hours daily for leisure activities. Don’t forget to add the weekend to your calculation and subtract out required tasks like grocery shopping and helping your kids with their homework.

Next, consider the activities you do during your free time. Include fun activities as well as chores.

Do you like to spend your free time socializing with friends, traveling, or pursuing hobbies? Or do you prefer to spend your free time relaxing at home, watching TV, or reading?

Whatever your preferred activities, it’s important to consider how much time you spend on each one and what you enjoy most. Be honest and non-judgmental with yourself during this process.