Saving money short term can waste time long term. In the long run, bad quality can get expensive. A molded chair from Ikea may look nice and cost a fraction of a Eames chair, but chances are that it breaks in a couple of years and you need to buy a new one. Eventually, you lose money buying a bad quality chair and compared to buying a good quality, more expensive chair. In the end, you wasted money and, that means: you wasted time.
Investing time can save money if you invest it in quality. This is a popular argument for selling handcrafted goods, brands and luxury merchandise. “It’s more expensive, but you will own it much longer!” Unfortunately, not everything that is more expensive will last longer. Sometimes you just pay for the brand. Sometimes a product is purposely more expensive to trick you into believing it is of superior quality. Often, it’s a mix. It’s worth investing your time before you spend money. Attention and care can save time.
Using attention and care to find quality also applies to time itself. The quality time you spend with people you care about, at home and at work, doesn’t translate into Dollars.
Don’t be fooled. Not everything is countable, weighable, measurable. Not everything translates into money. In the end, your life is not measured in Dollars spent or saved, but in years spend well. No matter how much you earn, no matter how well you perform compared to Jeff Bezos, the most valuable possession you have is your time. Time is money, but not like 1+1=2. Knowledge is power. Power doesn’t equal knowledge.
Read the full article here: Is Time Money?