The True Meaning of “Time is Money”
You hear this phrase tossed around quite often. So much so that maybe it becomes cliche and you never stop to analyze what it actually means.
When people valuate things like a book, a car, or a cell phone, they ascribe to it a monetary value. What I think that a lot of people have forgotten is that monetary values came about as a way to subjectively quantify your most precious commodity, which is time.
The word “subjective” is key here, meaning that some values mean more or less to different people. Everybody has time, nobody has more time than anyone else. The perception that anyone has more time than anyone else only comes about when people misappropriate their time. Like the cost of a book, for example.
On Amazon, a copy of Think and Grow Rich in paperback form costs $5.65. To people that see value in this, $5.65 is a steal. Those people realize that $5.65 is not only a very good price for any book, but an even greater price for a book that has the power to completely change somebody’s life. To them it is a very wise investment. To people who don’t read or don’t want to improve themselves or are frugal to the point of a cheese-and-crackers-for-dinner-type scnario, they may think that $5.65 is overpriced. Even to those who make $1 million a year, they might not want to buy the book. They see beyond the subjective $5.65 valuation and revalue it at, say, $50 worth of their time, or $1000 worth of their time, or whatever it may be. Value is subjective.
A lot of people would look at the expense of hiring a chauffeur and be dumbfounded as to why anyone would ever do that. People who have a much higher valuation of their time understand, though. They’re not paying for some personal driver so that they can contribute to their ego or appear more pretentious (at least not all of them), they’re paying for time. They are literally buying time because the valuation of the chauffeur service is worth less than whatever time they save by riding passenger. Whereas you might spend all your time being chauffeured playing Flappy Bird or gossiping on social media, those people are making adequate use of their time to bring more value to their lives.
Guys, what I’m trying to say is this: MONEY IS TIME. Don’t ever mistake a price tag for an intrinsic valuation. And like any fiscally responsible adult, spend your time wisely to get the most out of this short life.