We’ve all heard the saying, “Time is money.” It’s a phrase that is often used to help us determine what our time is worth.
We have a finite amount of hours in day, and because that time is valuable, we often put a price tag on it.
We expect to earn a certain amount of dollars per hour at our jobs. We may be willing to pay someone to haul our trash because we believe that our weekend is more important than having the money in our pockets. We hire a plumber to do a repair because paying a professional will save us hours of time and trips to the hardware store.
We make hundreds of decisions based on our values, and on our budgetary needs. When we’re feeling broke, we’re more likely to invest the time on a project rather than hire someone to do it. Suddenly our money becomes more valuable than our time. We’re willing to put in the time on household projects because it is what feels right for our budget.
What I find interesting is that no one ever says, “Money is time,” because that is true, too. It takes time to earn money. It takes time to get an education and training to get a job. It takes time to get good at that job and earn more money from it.
It takes time to save money. It takes time to clip coupons, match sales prices and find deals.
It takes time to pay off debt. You can’t have money until you pay off what you owe, and that takes time.
It takes time to grow your money. You’ve got to invest your money and cultivate its ongoing growth. Compound interest is a beautiful thing when you’re saving and investing, but the money doesn’t come instantly. It takes time.
Back in my younger days, I was always focused on advancing my career and increasing my salary. Now that I’m a stay-at-home mom, I’ve found a shift in my thinking. I’m focused on how can I find more time. How can I turn that time into extra cash? And for what purpose?
Whether you think that “Time is money” or whether you think “Money is time,” isn’t important. What is important is that whatever stage of life you are at, you are living it with purpose. You need to have goals. You need to have dreams. You need direction. You need a plan.
When you have those things in place, you will find you waste less time. You will find that your time is valuable and that you are able to turn that time into increased earnings.
What is your time worth?