Do you know that while brushing your teeth for 3 minutes, it will use up 45 cents in “lost” time and washing a car by hands has a hidden cost of $4.50!!

ÂÂ

I heard that Time is money before but I never imagine that there is a formula to let you calculate what it will cost you every minute. Economics professor Ian Walker just invents a formula that helps us calculate what is the cost of our “1 hour”.ÂÂ

ÂÂ

The Formula is : V=(W((100-t)/100)/C

ÂÂ

V is the value of an hour, W is a person’s hourly wage and t is the tax rate and C is local cost of living.

ÂÂ

This formula was announced in year 2002 (Sorry for the late info, hehe). However this is a nice invention as now we can calculate our cost for every action. Sound like our life becomes a business where every action involved some cost, hehe.

ÂÂ

Source : CNN

Related posts:

1. ING is paying 4.75% until April 15, 2006 ING just announced a great promotion by offering a new...
2. News - Great! the war of bank is getting hot! From an End User Another good news from HSBC yesterday, 30 Jan 06, that...
3. Top Ten Online Money Calculators for your Personal Finance Deborah Fowles from About.com does a favorite for us and...
4. What I learned from others - Money Myth : Refinancing A mortgage Jeffrey Strain, one of the personal finance who wrie a...