What is Time Cost Converter?
Time Cost Converter lets you instantly see how many minutes, hours, or days you need to work to earn any item. Simply enter your income rate and item price – visualize opportunity costs, compare alternatives, and make more mindful spending decisions.
Problem
Users struggle to understand the true time cost of purchases when evaluating prices in monetary terms alone, leading to impulsive spending and poor financial decisions due to lack of visualization of opportunity costs.
Solution
A web-based calculator tool that converts product/service prices into equivalent work hours based on the user’s income rate, enabling visualization of opportunity costs (e.g., entering a $100 item and $20/hour wage shows it costs 5 work hours).
Customers
Freelancers, salaried employees, gig workers, and budget-conscious individuals aged 20-45 who track expenses and prioritize mindful spending.
Unique Features
Focuses exclusively on time-cost conversion (unlike general budgeting apps) and provides instant comparisons between spending alternatives.
User Comments
Helps curb impulse buying
Reveals hidden financial trade-offs
Simple interface but lacks multi-currency support
Useful for freelancers to assess purchases
Needs mobile app integration
Traction
Launched 3 months ago with 8k+ users, $1.2k MRR, featured on Product Hunt’s Top 20 Productivity Tools of Q3 2024.
Market Size
The global personal finance app market is projected to reach $1.5 billion by 2027 (Source: Statista), with 72% of millennials actively using budgeting tools.
