what is your time worth?

**jghilino** · 07-12-2013, 10:30 PM

So i used to have a hard time deciding what projects to take on and what to avoid. Here is what i came up with.

yearly net earnings / hours worked = hourly rate

example $100,000 / 2000 = $50

From that i was able to determine my baseline as 40%, so i will not even take on a project lower than $20 hr, based on the example provided. Projects in the 40%-60% percent range i still try to work into my schedule in my idle time. Projects higher than 60% i work on during my primetime hours (the first 10 hours of the day). I am now able to maximize efficiency and production.

**parrothead** · 07-12-2013, 10:55 PM

Well, I like to get $20 an hour for my time as well, but until I have more work than I can handle, I keep going even if I am clearing $10 or so as well. But that about pegs it.

That is the target rate I am looking for when I am breaking stuff down.

Wish I could get back to the money that I used to make per hour, but am happy if I have plenty of scrap to break down at $20 and even 10. Mainly because my real job pays a paltry $10.71 an hour and I enjoy scrapping, so if I can keep up with that, then I am happy. I typically get closer to the 20 range though.

It is one thing to do the math on an item and see that it is worth more breaking it down, but yet another when you figure in the time involved and give it an hourly rate. However, people with more time than money won't care.

**Libertytow** · 07-12-2013, 10:57 PM

i bill everything out @ $60 per man hour regarless of the project extra equipmetn and extra guys = more $$$$

**TheRecycler** · 07-12-2013, 11:44 PM

I don't break it down with dollars per hour but more like exerted effort in the smallest amount of time will yield the highest potential earnings on a swappable item. For example, most motors don't get break down anymore. The amount of time it takes to break down compared to the highest amount of income it can bring is too small. The high point is not to break it down, just sell as motor.as a result, I find that I make a substantial amount of money by producing the most non ferrous, wires boards, and so on in the shortest time and you would have just maximize your earnings.

**PartTimeScrapper** · 07-13-2013, 09:31 AM

A buck 298 is all im worth

**taterjuice** · 07-13-2013, 11:08 AM

Depends on what I have to do. If I swamped and need to turn and burn I'll go with the easy way out. But if I've got nothing better to do that I'll spend the time to get the extra $$.

**Focker** · 07-13-2013, 01:43 PM

i try to do a minimum of $12.00 but most of the time average around$15-$18

**NamVet** · 07-13-2013, 02:40 PM

Im happy if i can scrap/breakdown, or just sell anything and make 5 bucks an hour. Granted im new at this, have tons to learn,(and im learning a lot from all of u--and this site. THANKS! again.) but i started doing this a year or so ago. Doing nothing but Al cans and copper wire (mostly from cut off cords). No more than i knew then, and even now, it adds a couple hundred bucks a month to my small income. (social security check) I guess my point here is no matter what i make an hour, its more than i had b4. And time is the one thing i do have plenty of--LOL! But reading and seeing just how much some of u are making (again,-granted some with hard work) I have hope of enjoying a few more things with what ever extra income comes my way thru scrapping.

**NHscrapman** · 07-13-2013, 08:33 PM

With the wealth of information and ideas on here I can honestly say it is A LOT MORE than before I found this forum.
THANK YOU SMF!

**NobleMetalWorks** · 07-13-2013, 11:02 PM

I use a labor percentage figure. Ultimately I would like to keep my labor percentage below 7.5 percent, allowing the business to carry whatever surplus there might be. So I base my figures one what I know I am going to bring in per month and figure wages based on 7.5% of that amount. I then schedule whatever other work I can within those labor hours so I never go above the 7.5% labor figure, but instead reduce that figure as I accept other jobs that can be fit within the frame I have created.

Each month as much surplus as I am able to, is retained in precious metals, in this way I can retain a commodity instead of selling it and paying taxes on the monetary gain. I do pay taxes on whatever metals I sell, and only sell raw metals to make up any difference required to hit my profit goal for any particular month. The other metals I sell are in the form of retail products, alloys for jewelers, shot for casting, plated items for specific applications, etc. My sales almost always make up and exceed my profit requirements, and I am usually left with a cash surplus as well that the business holds in it's accounts.

I keep the wage my business pays me each month relatively low so that I keep my personal taxes as minimal as possible. I have a business credit card I pay off at the end of each month, that gives me travel miles. So I never pay interest on the credit card because I always pay the balance, and whenever I use it I generate fly miles I can use for business trips. If I go out to dinner, I talk about my business so use the card to pay for dinner. If I purchase clothes that I wear to work in, I charge it against the business, anything I can legally associate with the business I charge against the card, and pay at the end of each month. This is how I make up for whatever I didn't pay myself in wages.

Ultimately I own the business, so whatever it makes in profit is mine, but since the business is considered an entity, and because I can retain precious metals as a commodity, I don't show the profit I could, and don't pay myself a high wage because it serves me better not to.

Scott

what is your time worth?

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