There must be somewhere online that has calculated this for the UK, but I can only find ones for the USA. Anyhow, Rhonda mentions this on one of her posts (Down to Earth) and I thought it might be interesting to see how many 'life' hours things cost.
I reckon if you use your net income as a guide, whether weekly or monthly that should be a good starting place. Simply divide that net total by hours worked and that will give you a sum of money that is one life hour. To make things easier, say your net income for a week was £400, divided by 40 hours worked, that equates to £10 per life hour. You may be earning well below/above this net figure.
I am not talking about buying things on credit as that eats even more of your life hours away. Simply everyday things and items that you may/may not really need and which could be costing you dearly.
Your fridge breaks down so a new one is needed, costing a minimum of £300, divide that by your £10 a life hour = 30 life hours, almost a whole week of work.
Are you really sure you need that new every so expensive designer handbag costing £2500? That will cost you 250 hours, about 6 and a bit weeks of work.
What about food. If like some on tv are to be believed, your weekly food bill for 2 adults is the shocking amount of say £200, that is 20 life hours, 1/2 of a working week etc. Obviously theese people must be earning considerably more but it is still amazing to calculate it. If your weekly shopping is closer to £30, that is 3 hours.
What about calculating your bills, the cost of your pets/holidays/mortgage etc. Could you cut any of these down, change supplier, take holidays at a different time of the year or look for offers etc. Any small changes will save you life hours for things you really would like to do.
Obviously, these calculations are very simplistic intended to look at those who are still working. If however you are on a pension and divide that smaller amount by approximate working hours, the life hour spenditure rises dramically.
If you are not yet retired and fritter money away, maybe you could look at what you are doing and get yourself in check before retiring.
It is thought that most younger people now, would be expected to work well past 70 or even 75, doesn't bear thinking about.
Whilst you are young and fit, overworking for little reward, it is easy to ignore the cost to your health and life hours. Maybe you could make some adjustments now, such as reducing your outgoings, maybe overpaying your mortgage, reduce some or all your debt?
That would open up the possibility for you to reduce working hours, thus opening up the possibility of retiring earlier.