Your time is not free

[rjmack]

i love my tractor, paid cash.

 

[andrec999]

I bought my tractor and blower to open my lane in the winter , it costed me 10,500. $ and it takes me about one hour to do it. If I include the time to dress up and warm the tractor up , at 90.$/hr it is costing 90.$ + fuel +maintenance +interest every snow fall , I got to sell my tractor , It's costing me 120.$ every time I use it!!!!!:laughing::laughing:

 

[o2batsea]

I bought my tractor and blower to open my lane in the winter , it costed me 10,500. $ and it takes me about one hour to do it. If I include the time to dress up and warm the tractor up , at 90.$/hr it is costing 90.$ + fuel +maintenance +interest every snow fall , I got to sell my tractor , It's costing me 120.$ every time I use it!!!!!:laughing::laughing:

If you use it ten times this winter, then it will cost you 1050.00 each time.

 

[Iplayfarmer]

What did you buy with your earnings. I bet income tax cuts into that, unless you aren't claiming it!

I think this was mentioned before in this thread, but I'll revisit it... A penny saved is actually more than a penny earned. Not only do you have to consider the income taxes paid on what you earned, but you also have to consider the sales tax on what you would have spent (dependent, of course, on where you live). Then there are factors like interest on loans that you could pay down with the cash, interested earned if you invested it, etc.

As a result, just because you are paid $25/hr does not mean your time is worth $25/hr. In a typical scenario, you'd only have to save about $18/hr to be worth the same as $25 earned. (Or about $63/hr in the case of the original $90 number tossed out there by the OP)

 

[hawkeye08]

If you use it ten times this winter, then it will cost you 1050.00 each time.

If he threw the setup away after one winter, maybe.

I would expect it to last 10 winters easy enough, 10 times each winter, so $105 per use?

 

[Bison]

My time must be free,cause i never got billed yet for wasting it while watching the grass grow

 

[o2batsea]

I think this was mentioned before in this thread, but I'll revisit it... A penny saved is actually more than a penny earned. Not only do you have to consider the income taxes paid on what you earned, but you also have to consider the sales tax on what you would have spent (dependent, of course, on where you live). Then there are factors like interest on loans that you could pay down with the cash, interested earned if you invested it, etc.

As a result, just because you are paid $25/hr does not mean your time is worth $25/hr. In a typical scenario, you'd only have to save about $18/hr to be worth the same as $25 earned. (Or about $63/hr in the case of the original $90 number tossed out there by the OP)

Isn't there a T shirt that says something like "Economists never stop taking things into account"?

 

[Iplayfarmer]

Isn't there a T shirt that says something like "Economists never stop taking things into account"?

If not, there should be. That's good.

 

[beppington]

Isn't there a T shirt that says something like "Economists never stop taking things into account"?

"Economists do it with models"

 

[crashz]

I have nothing of value to add other than this:

Thanks for the entertaining read. But the 23 pages in this thread just cost me $281.25 in personal funds.