Is It Worth Buying Calculator

How it is calculated

The tool turns your pay into an hourly wage and then expresses the price in working time. hourly wage = monthly income ÷ (hours per week × 4.345), where 4.345 is the average number of weeks in a month. hours needed = price ÷ hourly wage and work days = hours needed ÷ 8, so a work day is always counted as 8 hours. Income is the amount per month you use as your pay, price is a money amount and hours per week is the time you actually spend working for that income. Income must be above zero, hours per week must be above zero and no more than 168, and the price cannot be negative; otherwise no result appears. A price of 0 simply gives 0 hours. The wage is an average on whatever income you enter, so the result shows time cost on that figure, not on take-home pay unless you enter net income.

Common mistakes

• Entering gross income while thinking in terms of take-home pay; the hours of work come out lower than what you really feel.
• Entering hours per day or per month instead of hours per week. 169 or more is rejected, but 8 hours per week is accepted and gives a wage of $115.07, not what you earn.
• Typing yearly income into the monthly field. With 48,000 the wage jumps to $276.18 and the same 250 dollar item shows only 0.91 hours instead of 10.86.
• Forgetting that the work-day figure assumes an 8-hour day, so a part-time worker's days will not match their own schedule.