Rs 2000/ hour
I think this will help me make decisions in the future. I will most likely not care about small expense.
Real life example - before I knew this number, I recently shifted to a new place in gurgoan due to work.
I had to purchase a gas stove for cooking. I spent around 1 hour doing research about the best stove I could get at the best price. I ended up purchasing a stove for Rs 1700 which whas 500 lower than the non-researched, decent option available on amazon. I was happy that I saved 500 in that purchase, but if I knew this number back then I would have not done that.
Price per hour for my time - Rs 2000
Price of the researched stove - Rs 1700
Price of the non-researched decent stove - 2200
apparent saving in the purchase 2200 - 1700 = 500 ( not the correct number)
final calculation with time value deduction = 2200 - 1700 - 2000 = - 1500
So, even though in cash terms it was a positive transaction - but in actual terms, it was a hugely negative transaction.
Take it into consideration Ujjwal
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