Time As Money

Nolan Galido May 20, 2012 0
Time As Money

Since we were born we have been given the same amount of time every single day.

Growing up I remember my parents taking me to a large local toy store with rows and rows filled with wondrous toys. You can only imagine as a child how excited I was running up and down the aisles looking for just the right toy. Unfortunately I couldn’t buy them all because my parents gave me a set rule. I could only purchase a toy that fits the budget my parents give me. So I would now be hunting for toys that fit my budget, if it cost too much I continued my search for the best toy for the best price. I think it was a way my parents wanted to teach me about budgeting. What if we treated our time as money?

As stated in the famous quote of Benjamin Franklin “Time is Money” what if we actually treated Time as Money. In our personal budgets our income, the amount of money we have, determines what we can actually spend. Imagine I have an option to purchase Breakfast (P150), Lunch (P200 pesos), Dinner (P250), Movie Tickets (P400), A Starbucks Drink (P150) for a total of P1,500  but I only have P1,000 available. I have to decide what do I actually want? And since I’m a coffee addict that worships at St. Arbucks :)  I will forgo breakfast and just get a Starbucks Drink to stay in budget. What if we treated our time the same way?

Since we were born we have been given the same amount of time every single day. So to treat time as money we have to begin to think of the amount of time given as if it was the amount of income we have for our budget. One of the biggest problems of being bad in Time Management is going “over budget” with our time. We can easily commit to several things in one day forgetting how long each take to accomplish, or how much each cost, and then find ourselves not having enough time.

Here are 4 Tips on Treating Time as Money:

1. Realize Your are given exactly 24 hours every day. Use them wisely.

Think of your time like a daily allowance. Just as you might have budgeted a certain amount of money to use per day begin to budget your time the same way.

2. If possible do not cram everything in one day. You will be given another 24 hours tomorrow.

Keep in mind you are given 168 hours per week. Schedule accordingly so you don’t stress yourself out trying to finish a project in one day.

3. Use your complete 24 hours. Unfortunately you can not save them up. 

When you begin to treat your time as money you will find lots of loose change. Make sure to maximize these opportunities.

4. Plan on paper. If you do not write it down you will not know where your time goes.

A great way to see where your money goes is to write down everything you purchase. Apply the same technique with your time to see how you are spending your time throughout the week. 

Now go and spend your time wisely!

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