Time is Money - Understanding the Value of Time

‘Time is money’ is a very commonly used phrase. Rather, it has become a cliche. But do we understand what the phrase actually means? Is time really money?

Well, money is something that is considered the most valuable asset. Thus, to stress the importance of time, Benjamin Franklin first used the phrase in his book Advice to a Young Tradesman. Time is money simply means time is as valuable as money.

However, the fact is, time is more valuable than money. We can earn money by utilizing our time. But, we cannot earn time with money. Money spent can be earned again. But, we cannot earn time or moments that we spend or waste.

We spend our whole day in our struggle to earn money. On the other hand, we take time for granted. We do not value our time the way we value money.

History is evident. People who learned the value of time and spent it wisely became immensely successful. They ruled their own fate and the world.

Time is money. Wasted time means wasted money means trouble.
Shirley Temple

I have thoroughly gone through all the available research studies published on the internet and reached the conclusion that there is only 10 percent of the total world population are successful in the true meaning. These are the people who have achieved their goals in life.

On digging deep into the research, I found another research that shows that only 10 percent of the people feel “in control” of how they spend their time each day.

By chance, the results of both the studies coincided and I reached the conclusion that only ten percent of people who are successful in life are successful because they valued their time. They are in control of their time and the master of their life.

Drawing upon the facts, I wonder; why do the remaining 90 percent take time for granted? Why don’t they understand the value of time? Similarly, why don’t they realize that time takes precedence over every other wealth available in the world?

When I tried to further discover the underlying factors, I learned that people, who waste time, generally lack motivation. They lack ambition and direction. Their lackadaisical attitude takes a heavy toll on their life.

Here, I need you to pay heed to what I am going to explain now. First, you need to understand that nobody is born successful. People become successful through the right struggle and the right investment of time. You need to understand that everyone in this world has 24 hours a day. What makes a difference is a way those hours are spent.

In this world, every one of us has been granted a fixed amount of time in life. If we waste a minute, that one precious minute would never return again. Regrettably, we usually tend to waste hours in a day without realizing their importance.

Where actually do we waste time?

Much of our time is wasted today on social media. We get so hypnotized by it that at times we forget what is going on in our surroundings. We forget our priorities and responsibilities. Moreover, various other games like ‘Player Unknown’s Battlegrounds’ (PUBG) have fully taken control of all and sundry today. Students are wasting their time, their youth, and their life.

As a matter of fact, I was also once addicted to PUBG. However, thanks to my rationality, I weighed the costs and benefits and decided to let it go forever. But, watching our children spending hours in a day on PUBG is saddening.

It is heart-wrenching to see that no one is taking any practical steps to help our students get out of this addiction. Parents are not playing their role. Teachers are not paying any attention to this issue.

It is high time we make ourselves and our children learn to make wise use of the time we have in hand.

How to make the right use of time?

Here, planning is the key. Set your daily targets and then meet the targets. Before you go to sleep, make yourself clear about your next day’s routine and goals. Another viable way is that after you wake up and get fresh, take a diary and note down what you plan to do today. Make sure you meet your fixed targets of the day.

Assign some time for recreational activities too. At that time, one can play any game of one’s liking. It would be a win-win situation for you.

If you are preparing for any exam, start preparation with proper planning. You can do it by dividing your syllabus into days and further dividing your daily syllabus into hours. By doing this, you would get two-fold benefits. First, you will easily cover your whole syllabus in time. Second, you won’t stress out during your preparation phase.

You must be well-cognizant of your priorities and your responsibilities. Similarly, you should be rational enough to decide what should be done and what should be avoided. Apart, you must strive for long-term pleasures by sacrificing short-term pleasures.

Time doesn’t stop. It doesn’t wait for anyone. Learn to capitalize on it.

In the end, if you really want to achieve something great in your life, you need to be a driver of your life by taking control of your time. Your time is running out; realize it before it gets too late.

“Time is free, but it’s priceless. You can’t own it, but you can use it. You can’t keep it, but you can spend it. Once you’ve lost it you can never get it back.”
Harvey Mackay