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Slide 1: 

It’s said that time is money. If that’s true, how can we quantify it to measure it from a relatable perspective?

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For simplicity, assume that - An individual works from 25 to 65 y/o, for 20 days per month, 8 hours per day. typical.

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2. gdp (nom) per capita can be used to more or less gauge how much our time is actually “worth”, in current dollars.

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3. That the annual inflation rate for the period in question is similar to the mean rate of the previous 10 years, 1.7%%.

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We shall apply this theory to public transport – we assume That, daily, with public transport, One wastes an hour More on Commuting than if he had driven.

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Using our national gdp per capita of S$51,656 (yr2009), we are able to roughly deduce what an hour is Approximately Worth -

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51,656 ÷ (8 hrs x 20 days x 12 mths) = S$ 26.904167 Moving on, we have to figure out how much time is wasted on public transport in 40 years, from 25 to 65.

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Time wasted in 40-yr period - 1 hr x 365.25 days x 40 yrs = 14,610 hrs Now, using the S$ 26.904167 we derived earlier, we can price these hours.

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Approximate dollar value of 14,610 hrs - S$ 26.904176 x 14,610 hrs = S$ 393,069.875000 S$ 393,069.875000 in today’s dollars, Or S$ 568,677.541800, if you prefer to Factor in inflation.

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One may argue that public transport is cheaper (explicitly) than owning a vehicle. However, that Statement Is only true on the surface -

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If time really is money, one has to consider the implicit costs he Incurs (S$ 568,677.541800 in 40-yrs). Besides, public transport is intangible, your own car isn’t.

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So please, stop “going green”. Now that you know how much it’s worth, Can you Really Bear to throw away 14,610 hrs (608 ¾ days) of your life? Think about how much you and your loved ones can do in that time.

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