There’s a hidden battle that we face on a daily basis, and that’s our time and it’s relationship with money. If we compress 30 years of our working lives into 3 years for instance, and accumulate how much we earn during that span, we would all be millionaires within a few years.
The slogan “time is money” is well known. It was first used decades ago to remind workers that the time not spent working, is wasted time not making money. This has been adopted in today’s economy, that industry revolves around the equation Time = Money.
This for the everyday working person resounds true. We exchange our time and effort for a paycheck, for income, this for saving and survival. However, deeper inspection of this formula turns out to be only half true.
This based on the transitive property of equality, is that if time equals money, and vice verse, money must then equal time. But money isn’t time. So the equation doesn’t work both ways.
The Link Between Money And Time
There is a link but they’re not equal. Money is a two-way street. What most do is sell their time to earn money. But once you decide to spend, lose, or gamble your money away, there are abundant supplies of money in the economy, where you can earn it back and make more of it.
But our time is a one-way street. We can sell our time for money, but we can’t buy that expended time back. The time we have is finite and can’t be replaced, we just grow older.
Our Time Is Invaluable Money Is Valuable
This inequality plays out in our lives once we dedicate our time to do unproductive work, become lazy, this when in the pursuit of making money. Once we do so, it’s the complete opposite of what we’re wanting to do, which is make more money in less time.
What we constantly say is that if we could make enough money, then we could buy more “quality” time with our loved ones, do hobbies, to pursue our life long dreams.
We trade our time for money, such as working hard, this while we’re young, so then we can buy back this lost time to do the things that we’ve always wanted to do, this once we’re older or retired.
But what often happens is that our health and our energy begins to expire. So, if the plan is to save enough money so we can buy back the time that we’ve lost, what you’re doing is buying into the myth and not the math.
Spending Money To Buy Time
In order for this math to work, we’d have to save enough money, this so we can finance a future of affluence, that could be spent pursuing the activities which brings meaning and enjoyment into our life.
With purposeful planning of one’s money, this can be possible. But, what about those who, despite they working all those long hours, struggles to make ends meet, to make any financial progress.
Or those who don’t care that time is money. Their money doesn’t equal time for them, so they frivolously spend their savings today, such as taking a worldwide cruise, or gambling it away.
Money As A Tool
Money is an extremely powerful tool. It’s an amplifier when it comes to our values and our priorities. What money does is it acts as an accelerator towards our goals, financing the education so we could accomplish what we want.
What this provides is a comfortable and safe environment on how we can live and enjoy our lives, while creating endless diversions, clothe and eat better, motivate us to help others. This the powerful tool that money is.
So are you using the power of money in alignment to what’s important to you, or are you wasting it on things that aren’t, while putting off the things which really matters.
How much do you spend right now, and how much of it do you bank, save for later. What is the right formula, the exact balance between money affluence and time affluence.
How To Invest Your Money And Time Wisely
What you need to do is pay yourself first, this when it comes to money. It’s an excellent habit to save money for a rainy day, a portion of your earnings every month, this before it’s spent on other expenses.
What we can become intentional about is identifying those purposes, those experiences, and the projects which are most important to us, and then schedule them first. Life can potentially leave us with a surplus of money, but it’ll never leave us with is a surplus of time.
So avoid being time poor but money rich. Make strides in your life to create conditions in your life and career, which moves you closer to what your dreams are. If you don’t know what those dreams are, then find pockets of time to discover your interests.
What you need is to audit your time expenditures. Seek to outsource, automate, or eliminate those tasks which are nonessential or you don’t enjoy doing, and you’ll instantly win back some valuable time.
So what’s established is that time is money, but money isn’t always time. It comes down to our intentions on how we apply our time and our money, this on a daily basis. Money is necessary, but time is essential.