Your paycheck doesn't tell the whole story. Factor in commute time, prep time, unpaid overtime, and work expenses to find your real hourly rate.
Your stated hourly rate is simply your salary divided by official work hours. But work actually consumes more of your life than those official hours. Commuting, getting ready for work, answering emails at night, and work-related expenses all reduce what you truly earn per hour of life dedicated to work.
This approach comes from the book "Your Money or Your Life" by Vicki Robin and Joe Dominguez. The insight: when you know your true hourly wage, you can evaluate purchases in terms of "hours of life energy" rather than dollars.
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