How Much Is An Hour Of Your Time Worth? Hacks To Save Time On Queuing This Li Chun.
Li Chun – 4th February 2018
Li Chun 2018 falls on the 4th of February this year.
In Singapore, we have a culture of queueing to deposit money on Li Chun, which is perfectly in-line with Singaporeans’ favourite past time of queuing
It is believed that by depositing money during a certain auspicious hour, subject to your Zodiac, one will get to enjoy good fortune for the rest of the year.
The timings are split into two categories:
- Most Auspicious hours (most huat) as indicated by 2 ingots in the above infographics.
- Auspicious hours indicated by 1 ingot will be second best alternative timeslot should one not be able to make it for the Most HUAT hours.
How much is an hour of your time worth?
It is a common sight to see Singaporeans queuing at the cash deposit machines hoping to make it in time to deposit some cash during their auspicious hours.
My personal experience in the past involves up to one and a half hours of queuing.
Editor’s Note: Not really the most superstitious guy around, but it was during office hours with my colleagues. Hence, I’m cool with it. Anything to shave a few hours off work!
Taking a step back, it will be good to pay extra attention to how much is one hour of our time worth to see if it makes sense to queue for the annual Li Chun Cash Deposit Movement.
Assuming an individual:
- Work 9 hours a day from 9am to 6pm.
Sleeps 7 hours a day (healthy amount of sleep according to science)
- Willing to queue behind 15 people, with an estimated queue time of 1 hour 4 mins for a $100 gift certificate.
- Willing to pay up to $50 to sort out this mess of arranging these screws into their respecting category.
- Willing to pay $50 for cab fare to prevent waiting for a bus that is arriving in 2 hours.
- Earns the median Singaporean salary of about $3,490.
- Willing to work through Chinese New Year with 100% overtime pay.
With the above, your one hour of spare time will be worth $55.
Find out how much is your spare time worth here.
Ways to hack your Li Chun
Given the advancement in technology, there are definitely ways we can hack around the process and make us queue lesser.
Improving our current Li Chun route map with technology:
Our current procedure involves:
- Queuing at the ATM
- Taking money out of our physical wallet
- Depositing it into the bank account
With advancement in technology, and without compromising on the actual mechanism on how money travels:
- Transfer some money into your E-wallet, eg. PayLah
- Transfer money from E-wallet back to your bank account
- All in the comfort of your home.
Planning the ATM to go to which has the least crowd
Upon researching the auspicious hours for all the Zodiacs, we managed to recognise some of the peak hours where we believe most people will want to be depositing their money.
Do take into account that there is usually a spike in number for babies born in the year of Dragon.
|Time||7am to 9am||9am to 11am||11am to 1pm||1pm to 3pm||3pm to 5pm||5pm to 7pm|
|Total Number of Zodiacs:||4||7||5||4||4||5|
|Double Counting Dragon Babies||4||8||6||4||5||6|
We noticed that the main peak hours are 9am to 11am, 11am to 1pm and 5pm to 7pm.
Given that Li Chun falls on a sunday, maybe the cash deposit machines in town will be your best bet.
Check out our blog for more unbiased opinions on your personal finance journey.