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Time is money: 10p a minute!

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If you ever wanted to find out exactly how much that extra half hour in the office or snatched lunchbreak were worth, a scientist at Warwick University has come up with the answer.

The Times reports that Ian Walker, professor of Economics, has come up with a formula which allows you to work out the exact cost of day-to-day activities, and decide, for example, whether it’s worth getting in a cleaner or doing it yourself. The formula uses a combination of hourly wage, tax rate and local cost of living to come up with a figure for the value of a minute to an individual. According to the paper, the average ‘British minute’ is worth around 8p for women and 10p for men.

A calculator to work out what your minute is worth is available at

http://www.barclaycard.co.uk/timeismoney

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