Time Is Money?

I'm sure you have heard the saying "Time Is Money." Do you think this is true? Overall, I think it is, and I have several reasons to back up my opinion.

There are many instances as an adult where you may have the opportunity to decide whether to spend time or money. If you have the financial means, you can spend the time doing something, or you can spend the money to have it done by someone else. Shopping, laundry, tax prep, and yard work, are just a few examples. Some of these might take more time for you to finish than someone who is paid to do a task regularly. Some of these might be considered expensive to pay someone else to do. Sometimes you have to weigh the pros and cons of saving money or saving time. When you are at work, especially when you work for yourself, time is money. Tasks need to be done/products or services sold to keep your company running and to make money. As someone who owns their own businesses, my time becomes very valuable, even though many people think the exact opposite. If I don't work, I don't make money. Your self employed friend or family member is not sitting around doing nothing, they are working, and many put in a lot more hours and wear many more hats than someone with a paycheck job. Of course there are exceptions to every rule, however, this is the truth most of the time. I've had so many friends call or text in the middle of the day, just wanting to talk or asking my advice about something. I have to politely tell them I'm busy and can't talk right now. They don't always understand. A true emergency is an exception, of course.

Everyone has 24 hours in a day, but that doesn't mean everyone has the same amount of time. Someone who has a car to get them from place to place spends a lot less time traveling than someone who needs to rely on public transportation. This is another example of time is money. If you can afford a car, then the question is, do you spend the money on purchasing, gas and upkeep to save time, or take public transportation to save money for other things. Those who cannot afford a car do not get the choice, and must spend the extra time.

Discuss your views about whether time is money with your kids, and what you would prefer to spend time or money on, and ask them what they think. If you would like to let me know the details of this discussion and/or have any questions, I would love to hear from you. You can reach me at info@moneyisnotadirtyword.com