Recently, I had taken a cab home from my office as I was not feeling well after work. The time taken travelling by cab from my office to my house is about 20 minutes. The cab fare that I pay is about $18.00 including the peak hour’s charges. As for normal day, I will be using bus and MRT. The total time taken travelling by bus and MRT is about 60 minutes and cost me about $1.80.
As you can see that it is really cost me ten times more travelling by cab just to be three time faster. I need to spend $16.20 more just to save 40 minutes of my journey time.
Amount of money spend to save time = $16.20/40min = $0.405 per min = $24.30 per hour.
In my opinion it is very expensive to take a cab especially when your hourly worth is less than $24.30. As for me, I will take cab only when it is necessary. This will allow me to save a lot of money in the long run.
2 comments:
Health and wellbeing is above all.
Must learn to Earn $$, Eave $$, Make $$ and learn to spent $$ to reward ueself.
Since it is going back home, then the time worth should be that of being at home but not in terms of work hour in office. However, I agree with Eric that wellbeing is of high priority too. So, time worth at home should be higher than time worth at work, in non monetary terms.
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