Evaluating your life in terms of $$ / hr

[teddyFBI]

I've just recently begun to do something rather peculiar:

I was always raised to be very cost-conscious >> clip coupons whenever possible, haggle for a better price, return an item and buy it elsewhere if you can find it for $10 less.

Which is why my newfound poker wealth is really F'ing with my head -- I was waiting for the bus in the rain the other day, when it dawned on me that I could really just take a taxi for $4 more...I was only going around 15 blocks, so something inside me told me that just hopping in a cab would be wasteful, but then I thought to myself: "hold on, since my poker earn rate is roughly $200 / hr, even if this taxi only saves me 10 minutes, the extra $4 will have been MORE than worth it, if it allows me to get in an extra 10 minutes (~$35) at the tables."

As much time as I spend playing, it's made me even more conscious of how valuable our very short time on this planet is. Paradoxical, of course, because I really don't want to spend the majority of it sitting in front of a computer screen. (I don't know where I was going with this post...I swear I had a point to make when I started it...oh well, guess i'll end it here, since it's already 'cost' me $35.)

[Klepton]

this is good thinking, just don't let it get out of hand.

recently i thought "i don't care about 30 bucks, so i'm not gonna mail in that rebate, i already got the item."

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...my poker earn rate is roughly $200 / hr...

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And you worry about $4 for a friggin' cab? Gimme a break.

[Nietzsche]

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...my poker earn rate is roughly $200 / hr...

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And you worry about $4 for a friggin' cab? Gimme a break.

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Maybe that's why he got there.

[lehighguy]

I pay $1,300/month for an apartment in the city just to save two hours a day.

Seriously, buying time on this earth is one of the best investments you can make. It is a scarce resource.

P.S. I do the same analysis no matter what my job. When I was playing poker in college I spent somewhat freely, now that I work at a really tough job for less money I won't even pay $4 for those cookies I want.

[sternroolz]

Yeah, same thing for me sort of. I can drive the 15 miles to work. It costs me $10.50 per day to do this due to gas and parking costs. I park directly at work and it takes me 20 seconds to get from my car to my cubicle. Average commute is 20 minutes to work and about 35 minutes home. Or I can have my employer subsidize my way on the subway. That costs me nothing. But I have to get in my car, drive to the station, wait for the subway, wait at each stop, and walk 4 blocks to work. Total time from my front door to my cubicle is 50 minutes to work and 1 hour 15 minutes home. Needless to say, that hour plus is well worth the $10.50 it costs. A bit of a pain in the butt to put out $200 a month towards this, but worth it.

[ QUOTE ]
I pay $1,300/month for an apartment in the city just to save two hours a day.

Seriously, buying time on this earth is one of the best investments you can make. It is a scarce resource.

P.S. I do the same analysis no matter what my job. When I was playing poker in college I spent somewhat freely, now that I work at a really tough job for less money I won't even pay $4 for those cookies I want.

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[stoxtrader]

opportunity cost is definitely an important consideration when trying to measure utility. Maximizing EV in terms of dollars is just one step towards maximizing utility - which is a depressing clinical way to say i try to get the most happiness and fulfillment out of my life.

it is also by looking at utility, that you can justify vactions/time off/ movies, etc. etc....

Over time, this will keep you from doing anything but earn money.

"I can't go to that movie/ballgame/orgy/school play; it'll cost me $100/$1000/$12.65 in lost income!"

[teddyFBI]

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Over time, this will keep you from doing anything but earn money.

"I can't go to that movie/ballgame/orgy/school play; it'll cost me $100/$1000/$12.65 in lost income!"

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yeah, i think that was the essence of the point i was driving to in my original post that i somehow lost sight of.

It's really a mindf'uck. It's like a balancing act trying to decide which of your life pursuits are worth evaluating on a purely financial scale (i.e. do i fill out and mail in this rebate for $30, which will take me 20 mins?) and others that are 'non-negotiable'; i.e. seeing Walk the Line is technically -EV, but in the grander scheme will probably pay greater dividends to my well-rounded nature.

[ QUOTE ]
Over time, this will keep you from doing anything but earn money.

"I can't go to that movie/ballgame/orgy/school play; it'll cost me $100/$1000/$12.65 in lost income!"

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Awright, dammit! You got 4 choices of activity and only 3 prices!

Which one's tha' orgy?