time has more value than money essay

The Big Think Interview
Your Brain on Money
Explore the Library
The Universe. A History.
The Progress Issue
A Brief History Of Quantum Mechanics
6 Flaws In Our Understanding Of The Universe
Michio Kaku
Neil deGrasse Tyson
Michelle Thaller
Steven Pinker
Ray Kurzweil
Cornel West
Helen Fisher
Smart Skills
High Culture
The Present
Hard Science
Special Issues
Starts With A Bang
Everyday Philosophy
The Learning Curve
The Long Game
Perception Box
Strange Maps
Free Newsletters
Memberships

Time is money? No, time is far more valuable. Here’s how to spend money to optimize your time

People often say, “Time is money,” but what the aphorism misses is that time is by far the more precious resource.
A money-centric mindset can be detrimental to your happiness compared to a time-valuing one.
To be more “time-affluent,” clarify your core values and use your money to facilitate the pursuits and experiences that support them.

Four thousand weeks is the average lifespan of a person living in the modern world. With exercise and healthy living , you may push that number out a couple of months. Then again a disease or accident may just as easily cut it short. Give or take, 4,000 weeks is all the time you have to build the life you want.

Admittedly, such framing is stark, but it’s something we all understand on a gut level: Our time is limited, and that makes it the most precious resource we have. Yet when it comes to how we use our time , it’s often in service of money.

We spend more hours on paid work per day than any other activity except sleep — enough to subtract more than 500 weeks from a person’s 4,000. And that figure only accounts for the earning of money. When you factor in budgeting, spending, investing, and fretting over finances, then money even devours time allotted for unpaid work or “leisure” activities.

All the while, our lives tick silently away.

Of course, money is necessary. You need it to buy food, pay bills, prepare for retirement, and perform a litany of other daily to-dos. However, research suggests that once your income grows in excess of a subsistence minimum, having a money-centric mindset can be detrimental to your subjective well-being.

To build happier, more meaningful lives, you shouldn’t disburse your time in the pursuit of money; you should use your money to better facilitate your time.

Time is more scarce than money

The money-centric mindset is perfectly encapsulated in the aphorism “time is money.” It’s the kind of advice that people hold in reverence not because it’s proven useful or accurate but because it has an air of extraordinary authority. This is especially true in the U.S., where it is often attributed to none other than Benjamin Franklin .

By one reading, time and money are equivalent. You spent the former to get the latter. By another, money is the best possible output of your time. Any time not spent earning money is time spent wasting it. And, of course, the entire field of finance is based on the “time value of money.”

But like so many tattered clichés, this one crumbles under scrutiny. Time and money aren’t equivalent resources. If we measure a resource’s value based on its scarcity, then time should be far more cherished because you can always increase your supply of money.

You earn more money by negotiating raises, earning promotions, or changing professions. You can sell products for more than their costs, save money to spend when it is more advantageous, or invest your money to create capital to draw from later. Heck, you can even steal it .

The same cannot be said for time. The time you spend in one pursuit can never be recovered and exchanged for something else. You cannot save your time for a more favorable season nor invest it to create more later. And while you can gain a lot from your time spent — education , health, and, yes, money — those things cannot be converted back into time.

Time is more valuable than money

For these reasons, Ashley Whillans, a behavioral scientist at Harvard Business School, argues that subjective well-being doesn’t follow from becoming rich. Instead, she recommends we aim to become “time-affluent.”

Research shows that people who value time over money enjoy greater subjective well-being. They also have better social connections, healthier family relationships, and greater job satisfaction.

And this isn’t because time-affluent people simply work less. According to one survey , they work about as much as their money-centric peers. The difference is that time-valuing participants favored “intrinsically rewarding activities,” meaning the time spent at work was more valuable to them than just a paycheck. “Nothing less than our health and happiness depends on reversing the innate notion that time is money,” Whillans writes at CNBC .

Nothing less than our health and happiness depends on reversing the innate notion that time is money. Ashley Whillans

How to spend your money

But if we all have the same 4,000 weeks, how does anyone become time-affluent? Time cannot be earned or gained. We all have the time we have. No more, no less.

The answer is that when it comes to time, it’s not how much you have that counts. It’s how you spend it. And here, money has an important role to play. By spending your money thoughtfully, you can draw more meaning and subjective well-being from the same number of hours and weeks.

“Most people don’t know the basic scientific facts about happiness — about what brings it and what sustains it — and so they don’t know how to use their money to acquire it,” psychologists Elizabeth Dunn, Daniel Gilbert, and Timothy Wilson write in their 2011 study published in The Journal of Consumer Psychology .

They add: “Money is an opportunity for happiness, but it is an opportunity that people routinely squander because the things they think will make them happy often don’t.”

According to their research, when people think about how money can support happiness, they typically make two fundamental errors. First, their predictions are almost always off, and second, they fail to realize that the context in which they are making these predictions is not the same as the actual experience.

For example, some people might think that a new 8K TV will bring them loads of happiness. But in reality, they end up spending more money on all the hook-ups and accessories. The setup and continued maintenance take more time than they think. And while they marvel at the picture quality for a while, they quickly acclimate to the supersized pixel count. After a month, it becomes yet another TV.

So while the purchase did bring happiness, it proves significantly less than imagined, especially compared to the costs in both time and money.

Because of this, the trio notes, buying things for yourself doesn’t make you as happy or for as long as we think it will. Instead, money facilitates happiness best when we use it to buy experiences, benefit others , or indulge in small pleasures. We should not waste time comparison shopping, and we should pay attention to how our purchases can ease — rather than add to — the stresses of our daily lives. In short, rather than being money-centric, you should look at how your money and time can support your values, build relationships, and help you do the things you find meaningful. When money doesn’t manage that, then no amount of it will move the needle in either happiness or life satisfaction .

Time is money plus values

It’s one thing to say we should buy experiences and use our money to do the things we find meaningful. But it’s another to figure out which experiences and pursuits will meet that goal and shift our mindset to be more time-affluent.

According to Paula Pant, host of the Afford Anything podcast, the first step is recognizing that you cannot afford or do everything. As she said in an interview: “You just can’t have an endless series of ‘ands.’ You might not be able to have that thing and something else and something else and something else.”

After that, she recommends a first-principles exercise to clarify your core values and how they can shape your spending habits. Start by writing down the components of your life (such as family, health, career, self-worth, etc.) Then for each vertical, write down all the things you might want to accomplish by the end of your life. Remember, you have less than 4,000 weeks, so be realistic.

Then review your lists and circle the accomplishments that are most important to you. Pursuit of these should be where you focus your time, energy, and money.

“That’s a very difficult exercise because oftentimes in each of those verticals, it’s hard to pick just one, but then you’ll know what’s most important across that top horizontal span,” Pant said.

She also recommends reviewing the list to be mindful of the “core experiences” that matter to you. That’s because what looks like two values on our lists may in fact be one value. For example, you may have spending time with family and traveling the world as two separate goals. But if the people you want to travel the world with are your family, then both of those goals are connected to the core experience of relationship building.

Once you’ve budgeted enough money to pay the bills and feed the family, you should consider how you can save and spend your money to best facilitate the experiences and time you need to live those values in your life.

“And that doesn’t just apply to your money,” Pant notes. “That applies to your time, your focus, your energy, your attention — any limited resource. And life is the ultimate limited resource. So when you practice being better at managing your money, you practice being better at managing your life.”

Learn more on Big Think+

With a diverse library of lessons from the world’s biggest thinkers, Big Think+ helps businesses get smarter, faster. To access Paula Pant’s full class for your organization, request a demo .

Time is More Valuable than Money

You can use your time to make money, but you can't buy more time..

Posted September 20, 2009 | Reviewed by Jessica Schrader

Most people look at their bank accounts with great attention and assess how much money they have to spend, to invest, and to give away. But they don’t look at their time the same way, and end up wasting this incredibly valuable resource. In fact, time is much more valuable than money because you can use your time to make money, but you can’t use money to purchase more time.

Time is the great equalizer. Each day has only 24 hours—nobody has any more than anyone else. Everyone, from poets to presidents, fills those hours, one after the other, until they are all filled up. Every single minute is unique, and once gone, can never be regained.

When you look at someone who has accomplished a lot, you can be pretty sure that he or she has spent considerable amounts of time mastering the required skills, filling hours upon hours with hard work. There are those who look at others’ accomplishments and say, “I had that idea," or “I could have done that.” But ideas are cheap and intentions are just that. If you don’t invest the time needed to achieve those goals then all you have are empty ambitions.

People often say, “I don’t have the time to …” Fill in the blank with whatever you like: exercise, make dinner, write a book, start a company, run for political office. What makes these people think that they have less time than anyone else? Of course they don’t. We all have the same 24 hours in each day and make real decisions about how we spend them. If you really want to get in shape, then carve out time to exercise. If you want to write a book, then pick up a pen and do it. And, if you want to run for president, then get started. It isn’t going to happen if you plan your day around your favorite TV shows or spend hours updating your Facebook page. These are entertaining distractions that eat up your irreplaceable time.

I teach a course on creativity and innovation at Stanford University. During a workshop on how to brainstorm, I often give the following prompt: There aren’t enough hours in a day. Come up with creative solutions to this dilemma. The brainstorming results in an endless list of solutions—from the practical to the preposterous—demonstrating that there are lots of ways to extract more from each hour, each day, and each year. Some of the most interesting solutions involve figuring out how to do two things at once. I know many people who have successfully incorporated this approach into their own lives.

For instance, I met a woman named Audrey Carlson several years ago who was struggling to figure out how to spend time with her friends and take care of her growing family. She started a group called “Chop and Chat.” Every Sunday, six friends got together to cook at a member’s home. Each member brought the ingredients to make a different recipe that was then split into six portions. Members took home six different main courses for the week. Chop and Chat was an inventive way for the women to cook together, socialize, and prepare meals for their families.

Another example is venture capitalist Fern Mandelbaum. You would assume that meetings with Fern take place in her office … and you’d be wrong. Fern is an avid athlete and her meetings take place on hiking paths. Everyone who knows Fern knows to wear walking shoes and carry a bottle of water to their meetings in anticipation of a strenuous hike. Fern finds that this strategy is a great way to get to know each entrepreneur while also getting exercise.

There is an oft-quoted saying that "time is money." You can interpret this to mean that time is a valuable currency. In fact, each day another 24 hours is deposited into each of our “bank accounts.” We get a choice about how to spend these hours. We decide how much we spend right away, how much gets invested for the future, and how much we give away. The worst choice is to waste these hours by letting them slip away.

It is almost noon, and I have 12 more hours to invest today!

Tina Seelig is the author of What I Wish I Knew When I Was 20 .

Tina Seelig, Ph.D., is a professor at the Stanford School of Engineering. Her latest book is Insight Out .

Find a Therapist
Find a Treatment Center
Find a Psychiatrist
Find a Support Group
Find Online Therapy
United States
Brooklyn, NY
Chicago, IL
Houston, TX
Los Angeles, CA
New York, NY
Portland, OR
San Diego, CA
San Francisco, CA
Seattle, WA
Washington, DC
Asperger's
Bipolar Disorder
Chronic Pain
Eating Disorders
Passive Aggression
Personality
Goal Setting
Positive Psychology
Stopping Smoking
Low Sexual Desire
Relationships
Child Development
Self Tests NEW
Therapy Center
Diagnosis Dictionary
Types of Therapy

Sticking up for yourself is no easy task. But there are concrete skills you can use to hone your assertiveness and advocate for yourself.

Emotional Intelligence
Gaslighting
Affective Forecasting
Neuroscience

Get ready for a new eCorner experience! Later this summer, eCorner will become part of the website for STVP, the Stanford Engineering Entrepreneurship Center. You'll be able to access all eCorner content at stvp.stanford.edu . Existing links and bookmarks will redirect. Sign up for our newsletter to stay in the loop!

Ideas and Inspiration from STVP, the Stanford Engineering Entrepreneurship Center

Time is More Valuable Than Money

As 2010 comes to a close, it makes sense to take a moment to consider how we have spent our time throughout the past year, and to choose what to focus on in 2011. Anyone planning entrepreneurial adventures in the coming year should be prepared to judiciously manage their time, as it’s one of an entrepreneur’s most precious commodities. Today’s guest post is on the real value of time, from STVP ‘s Executive Director, Tina Seelig .

Most people look at their bank accounts with great attention and assess how much money they have to spend, to invest, and to give away… but, they don’t look at their time the same way, and end up wasting this incredibly valuable resource. In fact, time is much more valuable than money because you can use your time to make money, but you can’t use money to purchase more time.

Time is the great equalizer… each day has only 24 hours — nobody has any more than anyone else. Everyone, from poets to presidents, fills those hours, one after the other, until they are all filled up. Every single minute is unique, and once gone, can never be regained.

When you look at someone who has accomplished a lot, you can be pretty sure that he or she has spent considerable amounts of time mastering the required skills, filling hours upon hours with hard work. There are those who look at others’ accomplishments and say, “I had that idea, “ or “I could have done that.” But ideas are cheap and intentions are just that. If you don’t invest the time needed to achieve those goals then all you have are empty ambitions.

People often say, “I don’t have the time to…,” fill in the blank with whatever you like: exercise, make dinner, write a book, start a company, run for political office. What makes these people think that they have less time than anyone else? Of course they don’t. We all have the same 24 hours in each day and make real decisions about how we spend them. If you really want to get in shape, then carve out time to exercise. If you want to write a book, then pick up a pen and do it. And, if you want to run for president, then get started. It isn’t going to happen if you plan your day around your favorite TV shows or spend hours updating your Facebook page. These are entertaining distractions that eat up your irreplaceable time.

I teach a course on creativity and innovation at Stanford University. During a workshop on how to brainstorm I often give the following prompt: There aren’t enough hours in a day. Come up with creative solutions to this dilemma. The brainstorming results in an endless list of solutions — from the practical to the preposterous — demonstrating that there are lots of ways to extract more from each hour, each day, and each year. Some of the most interesting solutions involve figuring out how to do two things at once. I know many people who have successfully incorporated this approach into their own lives.

For instance, I met a woman named Audrey Carlson several years ago who was struggling to figure out how to spend time with her friends and take care of her growing family. She started a group called “Chop and Chat.” Every Sunday six friends got together to cook at a member’s home. Each member brought the ingredients to make a different recipe that was then split into six portions. Members took home six different main courses for the week. Chop and Chat was an inventive way for the women to cook together, socialize, and prepare meals for their families.

Another example is venture capitalist Fern Mandelbaum. You would assume that meetings with Fern take place in her office… and you’d be wrong. Fern is an avid athlete and her meetings take place on hiking paths. Everyone who knows Fern knows to wear walking shoes and carry a bottle of water to their meetings in anticipation of a strenuous hike. Fern finds that this strategy is a great way to get to know each entrepreneur while also getting exercise.

There is an oft-quoted saying that “time is money.” You can interpret this to mean that time is a valuable currency. In fact, each day another 24 hours is deposited into each of our “bank accounts.” We get a choice about how to spend these hours. We decide how much we spend right away, how much gets invested for the future, and how much we give away. The worst choice is to waste these hours by letting them slip away.

It is almost noon, and I have 12 more hours to invest today!

Matt Harvey , Stanford University

Matt Harvey is the former executive director of the Stanford Technology Ventures Program (STVP).

Dare to Stretch Your Boundaries [Entire Talk]

Video clips.

Know Your 'Big Rocks'

Pace your hustle, what gives entrepreneurs an edge , accept and embrace change, widening access with technology.

A Burnout Manifesto [Entire Talk]

The Unsung Heros Behind Your Success Story

Prep yourself for the last mile, what's your why, charting to find a role that fits, outsmarting imposter syndrome [explicit].

Debugging the Brogrammer Culture [Entire Talk]

Hope in Artificial Intelligence

Mitigate biases with rubrics, who's not in the room, set goals and track progress, think deeply about diversity, embrace diversity early, quantifying women in tech.

The Value of Time: How Much is Your Time Really Worth?

Not all uses of time are equal, and this simple truth can make a big difference in life. People who spend their time doing more profitable work make more money. People who spend their time investing in others build better relationships. People who spend their time creating a flexible career enjoy more freedom. People who spend their time working on high-impact projects contribute more to society. Whether you want more wealth, more friendship, more freedom, or more impact, it all comes down to how you spend and value your time.

If you’re like me, you probably want the things listed above (friendship, freedom, impact) and others too (health). But you can’t have everything at once, so you need to understand how to effectively manage the tradeoffs that you face on a day-to-day basis.

This article explains how to figure out what your time is worth and use that information to spend your time more effectively. Understanding how to get the most out of your time starts with knowing—in exact terms—what your time is worth.

The Value of Time: What is One Hour Worth?

A few weeks before I began writing this article, I was shopping for a small travel bag. After much searching I found one that I liked and, at just $19, it was very affordable. But there was one problem: the bag was made by a company in the United Kingdom and it cost $45 to ship it to the United States.

I was immediately turned off by the idea of paying $45 to ship a $19 bag, so I searched for retail stores. The company had a physical location in New York City and I was already planning to visit the city a few weeks later. I looked up the store location and realized that it would take me about one hour to go out of my way and stop at the store during my trip.

That’s when I thought of the question that prompted this entire article: “Was one hour of my time worth $45?”

Should I save time and pay $45 to get the bag shipped to me? Or should I save cash and spend one hour of my time going to pick it up in person? I had no idea if going to the store or paying extra for shipping was a better use of my time and money.

The Time vs. Money Dilemma

At some level, we all have an internal gauge for how much our time is worth. For example, if someone offers to pay you $0.07 for one hour of work, you would immediately decline. Meanwhile, if someone offers to pay you $7,000 for one hour of work, you would immediately accept.

On extreme ends of the spectrum, it is easy to know if a task is worth your time. As you move toward the middle of the time-value spectrum, however, it becomes less clear if a particular task is worth your time or not. And this is the problem: most of life is lived in the gray zone of the time-value spectrum.

For example:

Should you buy the nonstop flight and save two hours or get the flight with a stopover and save $90?
Should you pay your neighborhood teenager $20 to mow your lawn so you have an extra hour free on the weekend?
Should you spend this week working with a client that will pay you $2,000 right away or working on a business idea that could generate $20,000 over the next year?

We make choices like these everyday, but most people base their decisions on gut feelings or guesswork and never calculate what their time is actually worth. Everyone has an hourly value, but very few people can actually tell you what that number is. Until recently, I was no exception. 1

How to Calculate What Your Time Is Really Worth

My time vs. money dilemma prompted me to reach out to every expert I could find on the subject. I talked to entrepreneurs, productivity consultants, executive coaches, and even professional poker players about the best ways to determine how much my time was worth and how to make better decisions based on that information. 2

Then, I tracked every hour I spent over a three-month period and calculated the value of each hour using six different equations. Don’t worry. I’ve distilled all of this research and experimentation into a fairly simple process, which I’ll cover right now.

The remainder of this article is divided into two parts.

Part I is fast and easy, and covers everything most people will need. Within 15 minutes, Part I will help you develop a reasonable estimate of what your time is worth and you’ll be able to make more informed decisions because of it. I recommend everyone read Part I.
Part II is time-consuming, but valuable. In particular, entrepreneurs and executives will find Part II useful. Part II builds upon Part I and helps you assess the expected value of different uses of time, so you can make better strategic decisions that will pay off in the long-run.

Before we dive into Part I, I’d like to share a free spreadsheet I created with examples of every equation in this article. You can use this spreadsheet to plug in your numbers and get an immediate value for your time. I will be referring to this spreadsheet throughout the remainder of this article.

Free Download: The Time-Value Spreadsheet Click here to get your copy.

Part I: Realized Income Methods

We will start by using Realized Income Methods to calculate the value of your time. These calculations are based only on income you have actually received (or realized), hence the name Realized Income Methods. These calculations will help you make better decisions about how to spend money on day-to-day purchases. (i.e. Should I pay $45 for shipping or should I drive to the store?)

To get started, you need two numbers:

The amount of time you spend to earn money.
The amount of money you earn during that time.

Let’s talk about how to measure these two factors and come up with a quick estimate for the value of your time.

Step 1: How to Track Your Time

The first step is to measure the total amount of time you invest to earn money, not just the hours you are physically at work. For example, if you spend one hour commuting to work each day and eight hours at work, then it cost you nine hours to earn money that day. Similarly, you should add in any time you spent working on a side hustle or dropping your kids off at daycare. Using these numbers, we are trying to get a complete picture of the total amount of time you invest each year to earn money.

If you struggle to come up with an estimate for your time, you’re not alone. Most people only have a vague sense of where their 24 hours go each day. If you’re unsure how much time you spend working, I recommend using 2,500 hours per year as a starting point.

Here’s why:

Let’s say you spend 10 hours per day either at work, commuting to work, or doing tasks related to work. With a five day workweek, that’s 50 hours per week. And if you work 50 weeks per year (2 weeks off for vacation), then that’s 2,500 hours per year. I’ll leave it to you to make adjustments based on your specific circumstances, but for most full-time employees or entrepreneurs, I think 2,500 hours will get you in the right ballpark.

Tracking Time: How I Did It

As an online entrepreneur, I spend most of my time working on the computer. When I started measuring my time, I installed a software tool called RescueTime . RescueTime records the exact amount of time I spend on each task: how much time I spend reading each website, using each software program, browsing social media, and so on.

After I collected three months worth of data, I compiled numbers from other applications to round out my estimates. For example, I added up all of my listening time on Audible to estimate how much time I spent “reading” books. 3

Using the numbers from RescueTime and a few reasonable estimates, I found that I spend about 2,742 hours working per year.

Because of RescueTime’s category-by-category breakdown, I was also able to group my time into specific areas like writing, reading, website design, marketing, and so on. This detailed breakdown isn’t necessary, but it will come in handy during Part II of this article. For now, all you need is a reasonable estimate of the total amount of hours you spend to earn money each year.

Step 2: How to Track How Much Money You Earn

The second factor you need to know is how much money you earned during the time you spent working.

This is pretty simple. If you’re an hourly worker or a salaried employee, just look at your latest paycheck and multiply that by the number of paychecks you receive per year. If your pay hasn’t changed much this year, you can also look at your tax return from last year and just use that number. You should also include money from side hustles and freelancing gigs because the time you spent on those activities is included in Step 1.

The number we are trying to calculate is your take-home pay. This is the amount of money you have left after deducting taxes. For most employees, taxes are withheld from your paycheck, so your take-home pay is basically what you get paid. If you are a business owner, however, you should deduct taxes and business expenses from your top-line revenue. 4

Tracking Money: How I Did It

I use a service called Bench Accounting to track my business income and expenses. Bench is an online bookkeeping service that automatically pulls the data from my business accounts and then a bookkeeper compiles everything into tax-ready financial statements. With a few clicks, I can see how much money I’ve earned during the previous month, quarter, or year. 5

If you are also an entrepreneur, I recommend using yearly earnings for these calculations because small business income can fluctuate (sometimes drastically) from month to month. Looking at your earnings over a longer time period helps to smooth out these inconsistencies and provide a more realistic value of your time.

Step 3: Calculate the Value of Your Time

Finally, divide your total money earned (Step 2) by your total time spent (Step 1).

For example, let’s say you spend 2,500 hours per year earning money:

If you make $12,316/year, your time is worth $4.93/hour. This is the 2014 poverty line for an individual in the United States. 6
If you make $46,226/year, your time is worth $18.49/hour. This is the 2014 median income for women in the United States. 7
If you make $62,455/year, your time is worth $24.98/hour. This is the 2014 median income for men in the United States. 8
If you make $100,000/year, your time is worth $40.00/hour.
If you make $1,000,000/year, your time is worth $400.00/hour.

Again, all of these numbers assume that you are working 2,500 hours per year. Obviously, the numbers will shift if you work more hours or fewer hours.

Are These Numbers Accurate?

When I first calculated these numbers I was surprised. The value of an hour of my time was much lower than what I thought it would be.

Think about how many freelancers charge $40/hour, but don’t make $100,000 per year. Or consider how many consultants charge $400/hour, but don’t make $1,000,000 per year. How can this be? The answer is these people are only being paid $40/hour or $400/hour for some of their hours, not all of their hours. When we divide their total income by the total time spent working, the value of each hour is much less than what they charge for a given hour of work with a client.

Furthermore, although we might know what we would charge per hour, we rarely calculate how much time goes into earning money outside of our working hours. By accounting for all of the time we invest to earn money, we get a clearer picture of what our time is actually worth—and it is usually much less than what you would charge for an hour of work on your job.

Now, if you’re like me, you’d like to verify the accuracy of this first calculation. There are a few quick ways to check to see if your hourly value is accurate. Let’s cover them now.

Checks and Balances

The method we just used to calculate the value of time is called the Take-Home Pay Method because it is based on your take-home pay. There are two other types of Realized Income Methods that we can use to check the accuracy of your Take-Home Pay Method. I’ll explain them briefly below, but I think the easiest way to understand them is to look at the examples in Step 3 of the Time-Value Spreadsheet .

Market Rate Method – The Market Rate Method is the first way to check your numbers. The Market Rate Method is the rate you could expect to earn if you were hired by another company for a job you were qualified to perform. For example, I spend a lot of my time writing, so I could be hired for a Content Creator position. I also spend time growing the business, so I could probably be hired for a Business Development role. I looked up the salary for each role I was qualified for and then divided by the amount of hours I work to get another estimate for the value of my time. You can think of this method as what your time is worth on the job market.

Cost-Based Method – The Cost-Based Method is another way to verify your numbers. The Cost-Based Method is the rate you would pay someone else to do the work that you do. In other words, imagine you are the boss and you have to hire someone to do your job. I started by dividing my job into specific tasks (writing, marketing, etc.) and estimating the amount of time I spent on each task. Then, I plugged in what I would be willing to pay someone to do that task full-time. Then, I calculated a weighted average of all of the tasks to come up with an overall rate that I would be willing to pay someone to do the work that I do each day. Finally, I divided what I was willing to pay by the total number of hours worked. 9

Once I have numbers for all three methods, I calculate the average value of my time. I figure that I might be estimating high for one method or low for another, but the value of time is probably accurate when we take the average across all three methods. Again, you can see each method in the Time-Value Spreadsheet .

How to Use This Information

We have now completed Part I. With the calculations above, we were able to determine a quick and accurate estimate of what your time is worth. Now we can narrow the zone of uncertainty and make better decisions.

If you know your time is worth $25 per hour, then you should never wait in line for 30 minutes to get a $10 gift card.
If you know your time is worth $60 per hour, then you should always pay $49 for shipping instead of spending one hour shopping at the store.
If you know your time is worth $80 per hour, then you should always buy the direct flight that saves you two hours even if it costs $150 more than the flight with a stopover.

Once you know, in dollars and cents, how much an hour of your time is truly worth you can make better decisions on a daily basis.

At this point, we know your time is worth at least the number you calculated in Part I because Realized Income Methods only account for income you have already earned. Ready to see if your time is actually worth more? Let’s dive into Part II.

Part II: Expected Value Methods

This brings us to the second way to calculate the value of your time: Expected Value Methods. These calculations are based on the value you expect a given hour of work to create in the long-run.

Expected Value Methods can help you make big, strategic decisions about where to spend your time. What projects should your business focus on this year? Which uses of time aren’t effective and should be eliminated from your daily work routine? Should you start a business that could payoff big time in ten years, but won’t make any money right away or work a stable job with a reliable income? What is the best way to manage these tradeoffs?

Let’s start with the simplest type of Expected Value Method.

The Growth Multiple Method

There is a simple way to account for the expected value of your decisions. Take your net income from the previous year and multiply it by a reasonable growth multiple.

The key, of course, is selecting a reasonable growth multiple. For example, my business doubled from last year to this year, so I chose 2x as the growth multiple. With this method, we are essentially saying, “Your actions from this year will continue to drive growth over the next 12 months, so the true value of your time is actually higher than your realized income indicates today.”

The Growth Multiple Method is an easy way to estimate how the work you are doing today will pay off in the long-run, but it doesn’t tell you anything about how to use your time more effectively. For that, we need to use the full Expected Value Method.

The Expected Value Method

The Expected Value Method is the final, and most difficult, way to calculate the value of time. I’m going to try to explain this in the simplest way possible, but I think the easiest way to understand it is to look at the calculations in Step 4 of the Time-Value Spreadsheet .

Here’s the basic logic:

Start by breaking your time out by task. The more detailed you can be about each use of time, the better you can distinguish which areas drive the most value.
Find a unit of measurement that connects the tasks you work on with the income you earn. For most business owners, this means you need to know the value of a “lead” in your business. In my particular case, I use email subscribers because I know the average lifetime value of a new email subscriber and most of my tasks can be linked to getting more email subscribers in some way.
Estimate the value of each task. Let’s say I spend one hour working on a task that results in 50 new email subscribers. If the lifetime value of each subscriber is $1, then the expected value of that task is $50/hour. Repeat this type of expected value estimate for every task you work on.
Add all of the expected values together to determine the total expected value of your time.
Add extra variables as desired. Expected Value Methods can be as complex as you want to make them. You can account for factors like how much happiness a particular task brings to your life or how likely it is for this hour of work to continue to payoff years from now.

Expected Value calculations are highly individualized and you’ll probably have to wrestle with the equations for awhile to get them to work for you. Again, I think it’s easiest to see this worked out in numerical form. You can see all of the factors involved in this calculation in Step 4 of the Time-Value Spreadsheet .

Additional Notes

There are a lot of extra thoughts that go on behind the scenes of these calculations. Here are some additional factors I keep in mind when considering the value of time.

Misguided Success – Don’t waste your time becoming successful at the wrong thing. Simply understanding the value of your time is helpful, but you need to know what you want out of life to get the most accurate idea of the value of your time. Too many people chase money or power or approval because everyone around them does the same. What if that’s not what you really want? Sure, you can find ways to increase the value of your time, but what if you’d rather have more free time than more cash? This is where knowing your core values , doing an Integrity Report , and getting clear about what is most important to you is useful.

Tradeoffs and Opportunistic Addition – Bill Gates has been named the richest person in the world more than a dozen times. In 2015, he ranked number one yet again with an estimated net worth of $72.7 billion. According to one analyst, “With a worth of $72 billion, a 6% rate of return would earn Gates roughly $114.16 per second he is alive, making it a poor investment for Bill Gates to bother picking up a $100 bill if he dropped it.”

Although interesting and quotable, the idea that it isn’t worth it for Gates to bend down and pick up a $100 bill off the ground is incorrect. Why? Because picking up the $100 bill does not prevent Gates from earning $114.16 at the same time. He will be paid whether he picks up the $100 bill or not. In fact, by picking up $100 Gates will earn $214.16 during that particular second instead of his normal $114.16. 10

Picking up a $100 bill is not a tradeoff that prevents Bill Gates from earning money. It is an opportunistic addition on top of the money he is already earning. Opportunistic Addition refers to choices that would decrease the value of your time if you spent all of your time on them, but increase the value of your time if you do them at opportunistic moments. For example, consider an author who also does speaking engagements. If they spent all of their time speaking, then they would decrease the value of their time because they wouldn’t write any new books, they would gradually become irrelevant and their speaking rate would decrease. However, by doing speaking engagements every now and then—say, once or twice per month—many authors can add thousands of dollars to their bottom line while still having plenty of time to write new books.

Non-Negotiable Free Time – One of the dangers of calculating the value of time is that you end up convincing yourself to work another “productive” hour so that you’ll increase the overall value of your time. According to an article in the Wall Street Journal , “Some researchers say assigning an economic value to time risks harming people’s quality of life. Those who are encouraged to focus solely on the dollar value of time tend to feel impatient and pressured, says Jeffrey Pfeffer, a professor of organizational behavior at the Stanford Graduate School of Business. They work more and spend less time in rewarding activities such as volunteering or enjoying music.”

For my part, I decided that I would track my free time to see how many hours I was using for leisure vs. work, but I wasn’t going to place a dollar value on that time. Instead, I elected to say that my free time was non-negotiable. Having free hours where I could relax and decompress made it possible for me to be effective during the working hours that remained. You need to value your free time, downtime, and leisurely activities that provide whole health and wellness to your life.

Should you work another hour? – Wondering if you should work another hour? Here’s a good rule-of-thumb I learned from Sebastian Marshall: Consider each hour of your day. 9AM to 10AM, 10AM to 11AM, and so on. On average, do you make net positive or net negative decisions during that hour? For example, if you work late, does the hour between 9PM and 10PM lead to positive outcomes on average? Or does that hour include more mistakes than accomplishments? Does that hour include more procrastination than productivity? If it’s a net negative hour on average, then you should stop working. Working hard on a project is good until the next hour of work burns you out more than it produces something valuable.

Happiness and Meaning – If you want, you can account for factors like how much happiness or meaning a task adds to your life. However, rather than build these variables into my actual equation, I decided to rank them for each task from 1 to 10 based on how fulfilling it was for me. I didn’t use these rankings in any equations, but they can act as a tiebreaker between tasks that are close in Expected Value.

Where to Go From Here

Calculating the true value of time is actually much harder than it sounds and far more powerful than it seems.

The value of your time will likely change every year, perhaps even faster. The methods I have laid out in this article are flexible and adaptable. As you spend more time in a particular area or earn more income, you can simply plug the new numbers into the spreadsheet and get an updated value of your time.

My hope is that the strategy I’ve shared here will remain useful for you as time goes on.

It is important to realize that I’m talking about what your time is actually worth and not what you charge per hour. Many consultants or freelancers might say, “I know exactly what my time is worth. My hourly rate is XYZ.” We’re talking about two different things. Unless you are getting paid your hourly rate every hour of every day, then the value of your time is not the same as your hourly rate.”

I especially need to thank my friend Billy Murphy, who generously volunteered a large portion of his time to help me figure out what mine was worth.

I also calculated the average listening time per audiobook and used that number as an estimate for how long it took me to read a print book. Then, I multiplied my average book time by the number of print books I read. Finally, I combined the total print book time and the total audiobook time to get an estimate for my total reading time over those three months.

If you want to be ruthless, you can also subtract costs that are strictly work related. For example, subtract the cost of gas needed for your commute or the amount of money you spent buying suits for work.

At the end of the year, I send these tax-ready documents to my accountant and he finishes my taxes for the year without much input on my end. It’s about as painless as paying your taxes can be.

Data from “ Income and Poverty in the United States: 2014 ” by Carmen DeNavas-Walt and Bernadette D. Proctor. United States Census Bureau. September 2015.

50 percent of women make more and 50 percent of women make less. This data is from “ Income and Poverty in the United States: 2014 ” by Carmen DeNavas-Walt and Bernadette D. Proctor. United States Census Bureau. September 2015.

50 percent of men make more and 50 percent of men make less. This data is from “ Income and Poverty in the United States: 2014 ” by Carmen DeNavas-Walt and Bernadette D. Proctor. United States Census Bureau. September 2015.

I find the Cost-Based Method tends to deliver the lowest estimated value of your time. I like this because I think it helps overcome our natural bias to overvalue ourselves. I find that I am inclined to make estimates in my favor for the Take-Home Pay Method or the Market Rate Method, but when I think about what I would want to pay someone else, I tend to lower the numbers.

Now, if Gates were to spend every second of every day picking up $100 bills, then he would eventually decrease the value of his time from $114.16 to $100.00. In the real world, of course, that’s never going to happen.

Thanks for reading. You can get more actionable ideas in my popular email newsletter. Each week, I share 3 short ideas from me, 2 quotes from others, and 1 question to think about. Over 3,000,000 people subscribe . Enter your email now and join us.

James Clear writes about habits, decision making, and continuous improvement. He is the author of the #1 New York Times bestseller, Atomic Habits . The book has sold over 20 million copies worldwide and has been translated into more than 60 languages.

Click here to learn more →

How to Master the Invisible Hand That Shapes Our Lives
One Research-Backed Way to Effectively Manage Your Stressful and Busy Schedule
The Diderot Effect: Why We Want Things We Don’t Need — And What to Do About It
Creativity Is a Process, Not an Event
Scott Dinsmore: A Tribute
All Articles

Quick Links

Get in touch.

Unlock the Latest Knowledge that Can You Help You Achieve More in Life with More Confidence

Print and Digital Options Available

Why Time Is More Important Than Money

After grocery shopping today, I drove an additional five minutes to a different store. It had a few items that were cheaper than the first. I am a gal who likes a great deal, and I didn’t mind the extra time it took to get it.

I wouldn’t say that is always the case. Over the summer, I turned down a big project in order to be able to spend the week lounging at the beach. I rarely turn down a work project—especially a lucrative one. It was an especially gorgeous week at the Jersey Shore, though, and they don’t come that often.

My bank account may have been lower than I wanted after skipping the project, but the memories of that sunny week last me all cold winter long. I adore time spent doing something that renders me utterly blissful such as ocean swimming. My life isn’t a fairytale, though. I did return to work and have been busting my butt ever since.

A recent study in Social Psychological and Personality Science found that people who value their time more than pursuing money were happier. In a series of six studies, the researchers asked more than 4,600 participants questions such as whether they would prefer pay more rent for an apartment with a short commute or a pay less rent for an apartment with a long commute. Just more than half of respondents said they valued their time over money, and overall they were happier than those who said making money was more important than their time .

Related: John C. Maxwell: 5 Qualities of People Who Use Time Wisely

“It appears that people have a stable preference for valuing their time over making more money, and prioritizing time is associated with greater happiness,” says lead researcher Ashley Whillans , a doctoral student at the University of British Columbia.

Whillans says that gender and income did not affect whether people valued one aspect over the other.

What’s It All Worth?

When I heard about this study, I knew it demanded more exploration. Are we more likely to appreciate time more than money when we are (likely) older and more financially stable? Do some people value their time more because they know money doesn’t buy happiness? Or are we a generation that cares more about pleasant experiences instead of padded bank accounts? Can we value our time and make big bucks, or do we have to choose one over the other?

Clearly, I can’t take every other week off to work on my tan. Making the effort to take time off for things I enjoy and cannot always do is more important than raking in big bucks, so long as it’s in moderation and I can pay that darn mortgage each month.

Certainly, if you have a lot of discretionary income, you may be able to use it to free up your time. I have a wealthy friend who decided to hire a landscaper so he could devote time to his children instead of ignoring them while mowing the lawn. Another person may prioritize the peacefulness of gardening over spending time doing something else.

What if you do not have all that extra income to hire house cleaners, grocery shoppers and whatnot? You may trade off in other ways: You may not mind spending an extra hour venturing to two grocery stores instead of one to nab the best deals. You may, however, take the money saved and put it toward that landscaper in order to allocate more time for whatever makes you joyful.

In short, there are no easy answers. We generally prioritize one thing over the other depending on our core values, but that can change at different times during our lives. If we know we can be happier putting more emphasis on our time than making money, though, maybe we should try it.

Related: Can Money Really Buy Happiness?

Love Your Time

Want to start valuing your time a little more because you believe it will make you happier? Whillans suggests changing the way you spend your money. Work fewer overtime hours, spring the extra $20 for a cab home if the bus is going to take longer, or go to the pricier grocery store that’s closer to your home so you have more time for things you enjoy.

“The key is making sure that in addition to using money to have more time, people also spend their free time in better ways,” Whillans says, adding that “better ways” would include devoting time to things that make you happy. For some of us that means lounging on a beach, while others want to spend time with family and friends. My guess is that you can make extra time but if the thing you do with it does not make you content, you probably won’t be happier in general. Being aware of what makes us genuinely happy is also a must so you can put that time to good use.

Another way to value your time is to let others know it. Let your clients know you clock off at 5 p.m. on Fridays to take the weekend off—then don’t respond to emails until Monday to prove your point. Be upfront about your time constrictions.

You may have a job at a company that wants to prove they value you by showing that they value your time. Whillans is working with a few organizations to develop ways they can show they respect their employees’ time, and help them get more out of it. For example, one company assigns “do not disturb” time periods when internal instant messages cannot be sent.

“Providing employees with the ability not to check emails after 5 p.m., or rewarding employees for their hard work with extra vacation days, can send the signal to employees that their company cares about their personal time, thus enabling employees to empower themselves to prioritize their time versus having more money,” Whillans says.

Related: Want to Be Successful? Do These 7 Things in Your Spare Time

Kristen Fischer

Kristen Fischer is the author of When Talent Isn’t Enough: Business Basics for the Creatively Inclined .

5473 Blair Road, Suite 100 PMB 30053 Dallas, TX 75231

Home — Essay Samples — Philosophy — Time — Time is Money: Understanding the Adage

Time is Money: Understanding The Adage

Categories: Time

About this sample

Words: 621 |

Published: Sep 12, 2023

Words: 621 | Page: 1 | 4 min read

Introduction, time management and productivity, the value of time, opportunity cost of time, the psychology of time and wealth.

Cite this Essay

Let us write you an essay from scratch

450+ experts on 30 subjects ready to help
Custom essay delivered in as few as 3 hours

Get high-quality help

Dr. Heisenberg

Verified writer

Expert in: Philosophy

+ 120 experts online

By clicking “Check Writers’ Offers”, you agree to our terms of service and privacy policy . We’ll occasionally send you promo and account related email

No need to pay just yet!

Related Essays

1 pages / 573 words

2 pages / 929 words

2 pages / 807 words

3 pages / 1234 words

Remember! This is just a sample.

You can get your custom paper by one of our expert writers.

121 writers online

Still can’t find what you need?

Browse our vast selection of original essay samples, each expertly formatted and styled

Related Essays on Time

In conclusion, Robert Penn Warren's "Evening Hawk" is a thought-provoking meditation on the natural world and its connection to time and mortality. Through vivid imagery and evocative metaphors, Warren invites us to contemplate [...]

Daylight Saving Time (DST) is a practice of advancing the clocks by one hour in the summer to extend the amount of daylight in the evening and reduce the need for artificial lighting. DST has a long and complicated history, with [...]

Water is a ubiquitous substance that plays a crucial role in shaping our world in numerous ways, including its impact on time. From the rhythmic ebb and flow of tides to the soothing sound of raindrops on a windowpane, water has [...]

Katsushika Hokusai's The Great Wave off Kanagawa, often simply referred to as The Great Wave, stands as one of the most iconic images in the history of art. Created in the early 1830s as part of Hokusai's series [...]

Perception of time represents a major motif in modernist literature. Many works address the subjectivity of our experiences, including how we process and consider the passage of time. Due to the modernist and post-modernist [...]

Virginia Woolf’s Mrs. Dalloway is a novel about time: its quality, its depth, and its composition. Woolf conveys the complexity of time by drawing attention to her characters’ unique struggles to create meaning for themselves [...]

Get Your Personalized Essay in 3 Hours or Less!

We use cookies to personalyze your web-site experience. By continuing we’ll assume you board with our cookie policy .

Instructions Followed To The Letter
Deadlines Met At Every Stage
Unique And Plagiarism Free

experts @amprg.com

Time Is More Valuable Than Money

American Entrepreneur and acclaimed motivational speaker and author Jim Rohn once said: “Time is more valuable than money. You can get more money, but you cannot get more time.” This is a concept that I feel many people would agree with. But, when it comes to how they (okay, we) operate in our daily lives, our actions do not reflect that we do indeed believe this is true.

Think about it: How much time have you spent this week thinking about money, at work making more money, and planning what you will do with the money you are making and will make? My guess is a lot. Now, how much time did you spend not working and earning, not planning for present or future financial transactions or investments, but just simply enjoying life and investing in your mental/spiritual well-being and/or relationships? In contrast, I would wager not near enough.

I’m hoping this article and the following reasons help you feel that time is worth far more than money. And they can provide something for you to reflect on and perhaps spur you to rethink your “investments.”

*Time is finite. Simply put: You can’t make more time. The funny thing is when you think about it, it’s a bit ironic because you can use your time to make more money, but you can never turn around and use that money to buy more time. There will always be more money out there to earn, but as for time, it runs out for us all eventually.

*Material things pale in comparison to actual experiences. I am speaking for myself here, but from talking about this with friends and colleagues as well, I am confident they agree with the assertion that the memories we make are the “things” (or non-things, really) that we most cherish in our lives. This is especially true with people in my own life who have passed away. I look back and cherish the time spent making memories with them. A material possession just can’t compare to that.

*Money is dependent on time, not vice versa. Go with me on this one: You need time to spend your money. I think about those who are considered rich: It would take them two lifetimes (or more) to spend their riches, but we are all operating on an equal playing field when it comes to time. Their money cannot buy them any more time than mine can or yours. Money can indeed buy you a lot of nice, fun things, but it cannot buy you more time.

*Time is invaluable. You cannot put a value on time. It is our most priceless resource. In direct (and ironic) contrast, money is solely defined by a (numerical/fiscal) value in the form of a proverbial price tag. Bottom line: You literally cannot put a price on time.

Having said all of this, I am in no way diminishing the need to have money, nor the importance of it for improving our quality of life and comfort. I just think there is a real danger in allowing it to have too much power—so much that we lose the balance of it with time in our lives. Ideally, we will find a healthy balance between the two, where we can all have enough money without sacrificing the priceless gift of time in the equation.

This is easier said than done, especially when businesses need to be run and money still needs to be made. However, make sure to keep one eye on the big picture. Time is finite, use it with care.

< Older Post

Newer Post >

The Keys to Successful Digital Transformation

Pathways & progress: compensation & benefits.

Thoughtful Communication: Crafting Memorable Connections

Our success comes from our agility and ability to respond to any scenario at any given moment, making this a partnership you know you can trust., [email protected], amplify resources group 30 braintree hill office park braintree, ma 02184.

Make positive change that actually matters - that’s our aspiration for every new project or program we immerse ourselves in. Focusing on structure, process, and unique perspectives to accelerate our clients’ business, we seamlessly join and partner with you to execute and deliver on your most critical and impactful initiatives.

USEFUL LINKS

Designed and Powered by Juuced

Essay On Time Is Money

Time Is Money Essay

500 words essay on “time is money”.

Time is the most precious thing in the world. Once you lose your time, it is gone forever. You can’t regain it. Success and failure in your life depend on how you utilise your precious time. For example, if you want to excel in your exam, you should wisely use your time. You will not pass, despite being clever, if you waste your time and don’t study.

Even at workplaces, people who make full use of time are much appreciated. They receive promotions, performance bonuses, etc. On the other hand, idle employees are not much appreciated and receive no promotions. People get famous by properly utilising time, such as professionals and merchants, who work hard to make a lot of money. They know the right way to make good use of their time.

People who understand the importance and meaning of the phrase “Time is Money” prosper in their lives and achieve a secure financial condition. People who ignore the term often see failure in their life.

Importance of Time

Time is valuable as we are provided with limited time in our entire life span. We can’t say what will happen in the next few hours of our life. It is flexible and ruthless because it doesn’t wait for anyone. So, always use your time wisely. We should not waste our time doing unnecessary things or activities. You should make every moment of your time meaningful.

Money has become the most significant factor in everyone’s life in the modern era. But you should understand that time is more precious than money. You can’t buy time, irrespective of how rich you are, but you can earn money with better use of time. Time is uncontrollable, so once it’s gone, it is gone forever.

Money can be earned later through effort and hard work. But, unfortunately, once the time is gone, nothing can bring back that hour of our life. Therefore, we should respect time more than anything on this planet.

While doing our daily routine and even in workplaces, we should manage time efficiently. By doing so, we can complete our tasks without any obstacles. Moreover, we can also learn the importance of time from Mother Nature. The arrival of different seasons, day and night changes, sunrise and sunset, and earth rotation demonstrate the correct use of time. All they offer is nothing but effective use of time to prevent chaos.

More Valuable than Money

Time is priceless and more essential than money. Time never comes back, but money can. You can earn money by proper utilisation of time. But you can’t bring back the time that has gone.

If you want to become successful in your life, learn to use time efficiently. Money can be earned with time, but you can not make money by wasting time. This statement clearly states that time is more precious than money.

Time is allotted to you, and you have all the right to use it, just like money. But, there is a vast difference between the two. If you spend more money, you can always recover it by doing more work, but this money will never help you bring back lost time. Once ruined, time goes on forever, and it cannot be withdrawn.

A patient fleeing to the hospital to get medical attention may know that time is much more valuable than money. He will probably pay any amount to arrive at the hospital on time. He knows that he can earn money once he saves his life.

Consider an entrepreneur who wants to be on time for his first big business deal. He will probably take the fastest travel mode and not keep the expenses in mind. This is because he knows that time is more important than money in this situation. At this moment, his first deal’s success, reputation, and future depend entirely on time but not on money.

Conclusion of “Time Is Money” Essay

It is hence proved that time is money. One can become wealthy and flourish in life with efficient time utilisation. On the other hand, a waste of time means a waste of energy. So, always respect time.

From our BYJU’S website, students can also access CBSE Essays related to different topics. It will help students to get good marks in their exams.

Frequently Asked Questions on ‘Time Is Money’ Essay

What is the meaning of the phrase ‘time is money’.

It means that time is as valuable as money is.

What is the importance of time?

Time plays one of the most significant roles in our lives. The time that is lost can never be regained back.

How to value time?

Never postpone your work and complete it on time at all costs. Do not waste time talking or thinking about unnecessary things and be organised and productive.

CBSE Related Links

Register with BYJU'S & Download Free PDFs

Psychologies

Bad mood causes: how to regulate your mood

Discover how to become more self-aware and improve your emotional intelligence, so you can better understand the causes of your bad moods…

How to build self-belief every day

From being body confident to saying what you mean with conviction, Heidi Scrimgeour explores ways to foster a deeper sense of self-assurance…

More from Emotional wellbeing

5 ways to feel more comfortable in your own skin

Create a better work-life balance with these self-care essentials

Advertorial promotion If work has taken over your life recently, leaving little time for self-care, it might be time to take a step back and reassess your work-life balance – or lack thereof. Taking the time to step away from the hustle and take care of yourself – whatever that looks like for you – […]

Anna Mathur: ‘I feel less fear and more joy’

Psychotherapist and podcaster Anna Mathur talks to Psychologies about learning to get comfortable with the uncomfortable, and how to stop sweating the small stuff… Words: Holly Treacy, Images: Olivia Spencer Never miss an issue! Subscribe for just £25.99 and receive a FREE Weleda gift set, including a shower gel, shower bar, and hand cream. Most people will […]

3 steps to calm your mind with mindfulness

Mindfulness can help with everything from reducing stress and anxiety to promoting healthy eating and sleeping. Co-authors of Mindfulness Based Living, Choden and Heather Regan-Addis, lead us to calm

No thanks, I’m not interested!

Time is Money Essay in English for Children and Students

Table of Contents

Time is Money Essay is a phrase commonly used to imply the significance of time and that wasting time is equivalent to wasting money. The origin of the phrase dates back to the 15 th century. A Croatian merchant – Benedetto Cotrugli, was the first to write the phrase “ Time is Money” i n his book “Della Mercatura et Del Mercante Perfetto.” Later, Benjamin Franklin, one of the United States’ founding fathers, used “Remember that time is money” in one of his 1748 books.

Fill Out the Form for Expert Academic Guidance!

Please indicate your interest Live Classes Books Test Series Self Learning

Verify OTP Code (required)

I agree to the terms and conditions and privacy policy .

Fill complete details

Target Exam ---

Long and Short Essay on Time is Money in English

These essays will help you in your class/school projects/competitions. Choose anyone as per your need:

Short Essay on Time is Money (200 Words) – Essay 1

The phrase “Time is Money” practically suits every person in society. Let us consider a few examples: A businessman getting late for an important client meeting better understands the worth of time. He knows that time is precious, and he might have to let go of the business deal if he loses time.

Similarly, a student who has the ambition of procuring a good-paying job after studies understands the value of time more than anything else. S/he knows that getting a decent remuneration will be complicated and impossible if they waste time and don’t study well.

Essay on Time is More Precious than Money (300 Words) – Essay 2

Introduction

We all agree that time is Money, and Money can only be generated by properly and efficiently utilizing our time. The statement equates time with Money, but it’s only half the truth. Some explanations prove that time is more valuable than Money. In this essay, we will make arguments in support of the statement “Time is More Precious than Money.”

Reasons for Time is More Precious than Money

The most valid argument supporting the statement “Time is More Precious than Money” is that Money, once lost, could be regained, but time, if lost, can never be recovered. The amount of Money one has fluctuates with time; you might be poor today, but tomorrow you may be rich, or vice versa.

On the other hand, time is an ever-progressing phenomenon, changing every second I write this line. If for some reason, I decided to stop writing for a couple of minutes or so, then no power in the world could help me go back into those lost minutes. More examples could establish the statement “time is More Precious than Money” as a fact.

Consider an affluent person who urgently needs medical care but cannot get it because he got stuck in a traffic jam. He is caught up in a situation where his whole monetary worth can’t save him the time he needs. Indeed in practical situations like these, time is more precious than Money.

Time is worth more than Money as Money is a commodity that could be lost and regained or vice versa, but time once lost, can’t be regained whatever Money you are willing to spend. Thus it is established that “Time is More Precious than Money.”

Essay on Time is More than Money (400 Words) – Essay 3

Time is always considered more valuable than Money since one can spend time to earn Money, but vice versa is not possible. Money can never add some extra moments in life. Money, if lost, can be earned again, but if time is lost, it could never be recovered unless one believes in the impossible concept of a time machine. Everyone gets a limited time, but only an intelligent person utilizes it fruitful and productive.

Expansion of Phrase “Time is more than money.”

The phrase’s literal meaning showcases the importance of time and how it is considered more valuable than Money. You can do more with a day than a day’s pay. The time spent with our friends, family, and close ones remains in our memories irrespective of whether we have Money. Time is more precious than Money because though a person is a billionaire, he can’t add extra days to his life.

Sometimes the time spent with someone is so priceless that it can’t be bought with Money. It takes time to earn Money, but Money can’t buy a single moment. Everyone has a limited time; one who values it becomes successful, and one who wastes it always complains about its shortage.

Time Vs. Money

Time never comes back once spent, but Money can be earned back once spent. Time availability remains the same for rich and poor, but Money is available to the rich but not the poor. Time cannot be stored, but Money can be stored for some time. Time is always limited and can’t be increased, but Money can be raised by earning more. Time is not constant and keeps on moving, whereas Money could remain constant for some time. Money’s value might decrease over time, but the value of time remains constant forever.

In the materialistic world, people consider Money the most important and valuable thing in life, but they forget the importance of time. Nowadays, people are sacrificing their family time by spending it more on their work, and in this way, they cannot spend quality time with their family. It is also said that people spend time earning Money but don’t get time to spend it. Proper time management always makes a person successful and respectable in society by making him more punctual and improving his quality of life.

Essay on Time is Important than Money (500 Words) – Essay 4

Time is more important than Money; if someone wastes time, s/he will surely lose Money. Moreover, time in a way, is more precious than Money as it cannot be purchased by Money. The time lost, no amount of Money can help you bring it back into your life.

Reason for Time is Important than Money

Time is more valuable than Money, is a fact, and the phrase today is used and acknowledged by millions. There could be thousands of arguments in support of the statement. Time once lost can never be earned back is a truth. You can use your time to make Money, but you can’t buy Money with time. No matter how much Money you are willing to spend, it will not be possible to get back the already gone time.

Ever wonder what makes the difference between success and failure. From a layman to a high-ranking professional, everyone has the same 24 hours at their disposal. How they have used those 24 hours has made all the difference in their lives. A successful person always uses their time efficiently to earn Money and progress. Money is earned through time, and you can’t earn a penny by wasting time. This statement itself establishes that time is more valuable than Money.

Time is given to you, and you have the right to use it the way you want, just like Money. But, there is a difference – if you lose or spend Money, you can always regain it by working a little more. On the other hand, if you lose your time, then no amount of Money in the world can help you but it back. Time once wasted is gone forever and can’t be recovered.

Patients rushing to the hospital to get medical attention know that time is more valuable than Money. He would probably pay any amount to get to the hospital in time; because he knows that he could earn Money once he can save his own life.

Consider an entrepreneur who wants to be on time for their first big business deal. He would probably take the fastest mode of travel, not minding the expenses. Why? Because he knows that time is much more important than Money in this situation. The success of his first deal, his reputation, and his future at this moment depend entirely on time but not on Money.

Time is absolutely important than Money, and almost everyone must have experienced the truth of the phrase at some point in their lives. Whether one agrees or not, it is a well-established and proven fact that time is more valuable than Money.

Long Essay on Time is Money – Meaning, Story, Explanation (600 Words) – Essay 5

“Time is Money” is an equating statement, implying that time is equivalent to Money. The statement establishes a direct proportionality between the two; if you lose/waste time, you will lose Money and gain Money if you use the time. It is a proverb that has been widely used in our everyday lives. In the following essay, we will go through the meaning of the phrase “Time is Money,”; read a short story supporting the phrase, explain the phrase, and finally conclude the essay with a conclusion.

‘Time is Money’ Short Story

One evening, when the father came home from the office, tired and a little late, the kid had already eaten his dinner. The boy suddenly asked his father – Dad, how much you earn in a day? Father was not very pleased with the question and replied – that’s none of your business! Why do you want to know? But the kid insisted, saying he just wanted to know out of curiosity. After some reluctance, the father told him he earns thousand rupees daily. Next, the kid asked his father if he could lend him 100 Rupees. This made the father furious, who ordered the kid to go to his room and sleep. Poor child, having no clue what went wrong, retrieved the room and went to bed.

The father sat wondering what could have prompted the child to ask such a question regarding his earnings. However, as time passed, his anger subsided, and he went to the room with his son, probably thinking he had overreacted. When the father reached into the kid’s room, the latter was still awake. Apologizing for getting angry, the father took out a 100 Rupee note from his pocket and gave it to the kid.

Happy with joy, the child thanked his father, proceeded to his table drawer, took out the Money in the drawer, and started counting it. Once again, the father was surprised and a little angry. He asked where you got all the Money from. Why did you ask for more if you already had enough? The son’s reply had his father in tears. The kid said, father, I had collected Rs 900 over a long time, but today when you gave me Rs 100, my savings equal to your one day’s earning. So, may I request you take all thioney and spend a day with me tomorrow. The man was crushed. He was literally in tears and hugged his son as never before, promising him that tomorrow he would be on leavwould ime is Money – Explanation.

“Time is Money” is a famous proverb and an indisputable truth. How much money you have is decided by how efficiently you use your time.

Related Information:

Essay on Time Management
Paragraph on Time Management
Essay on Time
Speech on Time
Time is Money
Speech on Value of Time
Essay on Time is Money
Time and Tide Wait for None Essay
Essay on A Stitch in Time Saves Nine
Essay on Value of Time

Select your Course

Please select class.

More From Forbes

How the pandemic changed the value of time vs. money for business owners: a guide.

Share to Facebook
Share to Twitter
Share to Linkedin

By Arash Asli, co-founder and CEO of Yocale.com , an online scheduling and client management software for appointment-based businesses.

The global pandemic has forever altered the ways in which we live our lives, and perhaps no place better encapsulates this than Google’s autocomplete predictions; a simple search beginning with “the pandemic has changed” ends with our lives , the way we work , me , education , the world , the way consumers shop , business and on and on.

One of the most common threads is that the pandemic has altered the way we value time .

This is not a new idea, but we are only beginning to see the true reckoning of it now.

Just recently, Microsoft predicted that approximately 40% of the global workforce is considering leaving their jobs in what has been coined “the Great Resignation.”

Similarly, “hustle culture” is presumed to be dead.

Ransomware Gang Targets Google Chrome Users In Surprise New Threat Twist

Today’s nyt mini crossword clues and answers for tuesday, august 27th, new details emerge about why ‘the acolyte’ was cancelled.

Perhaps in a twisted turn of events, especially for many business owners trapped in a vicious cycle of earning more money, we are finding that money does not necessarily lead to greater satisfaction.

But do you know what does?

Of course, the research has suggested this for years, but it is only now becoming part of the cultural conversation.

So, the question becomes: How can business owners, caught up in a habit of working harder and harder because they believe money will enrich their lives (and even for those trying to make ends meet), shift their mindset?

Why Business Owners Should Prioritize Time Over Money (According To Research)

Historically, greater income has been associated with greater well-being. However, research is beginning to shift on the topic.

Research published in the Social Psychological and Personality Science journal repeatedly shows that valuing time over money is associated with greater well-being, including here and here .

Furthermore, research has found that there is actually a tipping point when greater income is no longer associated with well-being (and can actually have a negative effect).

A 2010 study found that while income is associated with greater life evaluation (thoughts about one’s life) and emotional well-being, emotional well-being does not increase beyond an annual income of $75,000.

Similarly, a more recent study published in Nature Human Behaviour in 2018 found that while satiation occurs globally at $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being, greater income beyond this satiation level is actually associated with lower life evaluations.

So, the old cliche holds true: Money does not appear to buy happiness.

And not only does valuing time over money lead to increased well-being, it has also been proven to facilitate social connection. This makes sense, but the implications of this are important, with social relationships proven to improve mental health, physical health and lifespan.

How To Prioritize Time Over Money

But if valuing time over money is associated with greater well-being, how can business owners make this shift? Here are some suggestions:

• Spend More Time Thinking About Time And Less About Money. It may sound obvious, but research has shown that thinking about time motivates individuals to spend more time with family and friends and less time working. In contrast, thinking about money causes people to socialize less and work more.

A lot of this has to do with becoming aware of one’s thoughts; meditation has been identified as a consistent alternative therapy to develop consciousness.

Working on improving your emotional intelligence also goes hand in hand with this, too.

• Purchase Time-Saving Services (Buy Time). Perhaps ironically, research has also shown that time-saving services, such as housecleaning, increase relationship satisfaction. Not only do these services reduce stress but they also propel couples to spend more time with each other; interestingly, couples will even spend more time with each other in the midst of high stress levels.

This concept of “buying time” can extend to time-buying services within your business in the form of outsourcing (payroll, and so on).

• Process Management (Work Smarter, Not Harder). Within a business context, process management is imperative. In short, it’s about identifying core business processes and improving them — but in the right way (that is, with software that automates and streamlines).

For appointment-based businesses like salons, therapists or even lawyers and notaries where time is quite literally money, manual tasks like scheduling and capturing data can be completely automated with online booking and client management software, reducing time on the phone by 80%, according to my company's findings .

The same is true of administrative tasks that involve paperwork. Notaries involved in the sale of a property, for example, can eliminate this process with an automated, digital form. Health providers, as another example, can easily use a practice management system to reduce the need to dig up receipts. Other businesses can use an inventory manager to reduce the need for manual counting, reporting tools can predict future sales and so on.

• Recognize That More Hours Do Not Equal Greater Productivity. Research has also shown that longer hours do not translate into increased productivity; a study by Stanford University, for instance, found that output reduces drastically after 55 hours. It’s exactly why more companies are moving toward a four-day workweek.

• Optimize Your Workspace To Promote Effectiveness (Without Overwork). Finally, research supports a myriad of small ways that people can boost productivity in a given day; this includes standing desks , natural sounds and even blue-light glasses .

Wrapping It Up

While greater financial resources have historically been associated with greater well-being, research shows that there is a tipping point after which more money also detracts from it.

Furthermore, we now know that valuing time over money increases happiness and leads to more social relationships (with implications for health and lifespan).

But in order to tap into the powerful benefits of a time-centric perspective, business owners must quite literally spend time thinking about the value of time instead of money.

They must also buy time-saving services, strengthen their process management (and invest in time-saving software) and rest.

If they do this, they’ll see greater returns, not only in the context of their personal well-being but also in terms of productivity.

Editorial Standards
Reprints & Permissions

"Time is money" give reasons for your answer and include any relevant example from your own knowledge or experience to what extant do you agree or disagree?

Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Writing9 with appropriate and specific direction to the original content.

Fully explain your ideas

To get an excellent score in the IELTS Task 2 writing section, one of the easiest and most effective tips is structuring your writing in the most solid format. A great argument essay structure may be divided to four paragraphs, in which comprises of four sentences (excluding the conclusion paragraph, which comprises of three sentences).

For we to consider an essay structure a great one, it should be looking like this:

Paragraph 1 - Introduction
Sentence 1 - Background statement
Sentence 2 - Detailed background statement
Sentence 3 - Thesis
Sentence 4 - Outline sentence
Paragraph 2 - First supporting paragraph
Sentence 1 - Topic sentence
Sentence 2 - Example
Sentence 3 - Discussion
Sentence 4 - Conclusion
Paragraph 3 - Second supporting paragraph
Paragraph 4 - Conclusion
Sentence 1 - Summary
Sentence 2 - Restatement of thesis
Sentence 3 - Prediction or recommendation

Our recommended essay structure above comprises of fifteen (15) sentences, which will make your essay approximately 250 to 275 words.

Discover more tips in The Ultimate Guide to Get a Target Band Score of 7+ » — a book that's free for 🚀 Premium users.

Check your IELTS essay »
Find essays with the same topic
View collections of IELTS Writing Samples
Show IELTS Writing Task 2 Topics

Some cities have vehicle-free days when private cars, trucks and motorcycles are banned from the city centre. People are encouraged to use public transportation such as buses, taxis and metro on vehicle-free days. To what extent do you think the advantages of this outweigh the disadvantages?

Many university students live with their families while others live away from home because their universities are in different places. what are the advantages and disadvantages of both situations, countries are becoming more and more similar because people are able to buy the same products anywhere in the world. do you think this is a positive or negative development, computers are being used more and more in education. some people say this is a positive trend, while others argue that it leads to negative consequences. discuss both sides of this argument and then give your own opinion., write a letter to a colleague who is hospitalized at the moment. in your letter you should • ask about his/her health • let him/her know what changes occurred since he/she has been hospitalized • also try to make him/her happy in some ways.

Student Essays

Essay on Value of time, value of time essays for children & students

Essay on Time | Value & Importance, Time is Money, Essays, Speeches

The time is one of the most valuable product that we all share. The time management is a skill practiced by the most successful people all around the world.

The time never comes back. Therefore, it is extremely important to value the time. The following essay discusses in detail regarding the importance and value of time for children and students in a most effective and persuasive manner. It is equally helpful for children & students Primary, Secondary and high school students.

Essay on Time | Essays on Value & Importance of Time For Children & Students | Quotes

Time is a mysterious phenomenon, it is an infinite and incessant process of events and happenings in one’s life. It is divided into three categories, past, present and future.

The best time is the present time. Present is the time which we are going through, the time that we are going through is the building block of future.

Present takes to future. Past pushes us into present while present takes us into future which is quite unknown and undefined. There is only today, there is no yesterday and tomorrow.Today is everything.

It is believed that future of someone is defined in the state of present. One who takes good use of present the future shines while one who wastes present time he or she waste future. On the whole time is very limited and most valued resource of life.

Time is divided into seconds, minutes, hours, days, weeks, months, years, decades and centuries. Every second is important in life.

Even a jiffy is not jettisoned. Minute and seconds are nothing but jewels. Even a minute lost won’t come back. There is no room for Idleness and laziness.

Importance and Value of Time

Time is the most precious thing ever found on earth, everything else is less important than time. The most valuable gift in everyone’s life is time.

Time is the very tool which if consumed productively can make wonders in life. The unique quality of time that it never comes back, it only goes in forward direction.

If we have time, we have everything, if we have no time, we would have nothing. The priceless possession of life is time.

To waste time is tantamount to waste life, loss of time is the loss of life. Time is a blessing in disguise, each and every minute of life is very important and valuable. It is time which can bless us and can destroy us.

The blessings start appearing when we start using time properly. All on this time have time to be thankful to God. One who have time have everything, when one have everything he or she must be thankful of it.

Indeed time is the only thing which only goes but never comes back. Productive use of time is the sign of bright future.One must not value anything else except time because time can give us everything but nothing can give us time.

In the luxury of money and prosperity people often forget to value their time, as they don’t know that it is time which can give us all these things but prosperity and riches can’t give us time.

Time is unique from every point of view, it is something which can be used only but not bought or sold. None on this earth can buy or sell time but time can buy us everything. Productive use of time enriches man while useless use of time destroys man.

There are countless people who spend their precious time in useless activities like eating, playing, sleeping or in laziness. By doing so they not only lose their accumulated assets of life but lose their time which never comes back.

We need to work on regular basis, Regularity is the right use of time. One who is regular and uses time productively become empowered. When one exert his or her energy fully and uses time carefully thousands of blessings start attracting us.

It is rightly said that none can stop or slow down the clock, every minute that passes away is counted. Time is the only precious commodity which waits for none. It is neither unlimited nor can be reversed.

In limited time one is required to use it wisely and productively. There is no chance of procrastination. If someone procrastinates time he won’t get anything except regret because the time which is gone is gone. One can not reverse it and use the passed time.

To feel better in future use present time carefully and wisely. Accomplishing more tasks can make someone feel better and happy.

Yield more and more benefits from the time which you are going through. Try to complete all tasks within time, sparing more than required time on accomplishing any task is wastage of time.

One being time-conscious can use time effectively. Don’t take time for granted, Value every second, minute and hour so that even a second is not wasted uselessly.

Why people wear watch in their wrist? Watch in wrist alerts us of time which passes away. Always keep an aye on watch so that time is saved and used properly.

Undoubtedly the time is the greatest and most important resource. There is no one who is not subjected to aging and mortality. We have limited hours, days, months and years of life.

Those who make great achievements in this limited time they never die. After their death they are remembered in the pages of history.

Death itself get death with the effective and useful use of time. Those who work and use it meaningfully conquer it and become immortal in the pages of history.

The value of time can not be calculated in words. It is more valuable than gold, money and all that we consider highly important. Even a minute is enough to be rich, even a second is enough to win and become successful.

Wasting time is equal to murdering it. Those who live an unplanned life they murder time. Divide time, make a time table and utilize time carefully in completing tasks. Stop killing it in useless activities. The key to success is the good use of time.

Never postpone any work, complete all works on time to get success. The utilization of time determine our success. There is a quote that “ a stitch in time saves nine”. It means a work done on time is time earned.

Thoughtlessness is killer of time. It is a big treasure, one must not waste it thoughtlessly. If money is lost it can be earned again but if time is lost it can never to recovered. It is all powerful, it’s not that we waste time but actually it wastes us.

>>> Related Post: ” Paragraph on Punctuality & Its Importance ”

Time is the most powerful and invaluable commodity of life. It is always in the state of Flux, it never stops and waits for none. It is gifted free to everyone, no one can buy or sell it. It keeps running at its own pace.

None have power to rule over it. Many precious things like money, gold etc can be earned and got back by many means and ways but there is no means or way to recover time.

The value of time lies in a proverb that “Time once gone is gone forever”. Someone has said that time and tide waits for none. It is time which makes us successful and can ruin our life.

Actually time is indivisible and immeasurable, it’s we human who have developed clocks, watches and invented dates, days, months and years to measure and indicate it in our own way. It is ever changing.

Essay on Time is Money For Children & Students

It is famous motivational words by Benjamin Franklin. Time one of most precious phenomenon on earth. Time is power and opportunity to make your life successful.

It is often said time is money because we can earn money by using it wisely and properly. On the other hand, misuse of time or wasting time on absurd things take away your all money.

Time is more important than money. Money can be earned again but time can not be back. We can not buy time no matter how much money we have. Time waits for none and goes on continuously.

We need to work along with time and improve our selves according to new era for bright future. People who waste time often repent in long run.

Time demands abrupt and steady plans for life. We can earn money for our brighter future only by utilizing our time in perfect manner.

We need to work round the clock to do our best in life. Wasting time leads to irreparable loss in future. Saving time means saving money.

In order to earn money, we need time to invest out abilities and work hard. People who act at right time are one of the most successful people of the world.

Every person wants success in his life and thrives for it to his level best. Time plays a major role in building future of man`s life.

One needs to work hard on right time with all his forces for success. It is famous proverb “there is no use of crying over split milk.” It is very important to work on time with punctuality.

Time is most precious gift of Almighty and people who value time often are most valuable person in life. In a nut shell, time is priceless and it should not be wasted.

Short Essay on Value of Time in Life

Time is one the most important phenomenon of man`s life. Time goes on continuously. One cant stop it. Moments that are lost are lost forever. It never comes back.

It is crucial to value time in order to make your way in life. Time management is basic life skill. People who waste their time are most unfortunate people.

No one can blame time for anything in his life. Time gives equal opportunities to every person. However, some avail them and others just ruin it.

The secret of success lies in valuing your time. If you want to be successful in any field of life, you should learn to manage your time. One has beautifully said “Time and patience are great warriors.”

Importance of time is manifold for students. Students waste their time on social media and other unhealthy activities ruin their future.

On the other hand, students who are dedicated towards their goals and dreams in life use their time wisely.

We have often observed that students who study, eat or play on time are most successful in their careers. Time is ultimate thing that we can not measure.

If we better understand the time value, then we can gain experience and skills over time. Time used for betterment of our knowledge is the biggest gift for our selves.

Wasting your time is major reason behind unsuccessful life. Our religion has also taught us importance of life through different prayers.

Every Muslim offers five times a day at specific time. This highlights significance of time. The concept of success is totally absurd without time management.

In a nut shell, it is very important for every person to value his time and use it to be a best person on this planet.

Speech on Importance of Time

Time plays significant role in man`s life. Time is treasure. It waits for none. Time is most powerful and valuable thing on this planet. Once lost never comes back.

It is crucial to value time and use it for betterment of humanity. Time management plays significant role in life. People who waste their time mostly repent in long run.

Time can not be blamed for anything bad in life. Time treats every individual equally. It is important to make better planning on right time.

The secret of success lies in valuing your time. If you want to be successful in any field of life, you should learn to manage your time. William Pen has beautifully depicted the importance of time: “Time is what we want most, but what we use worst”

Importance of time is even more for students. Students waste their time on social media and other unhealthy activities ruin their future.

On the other hand, students who really want to do something in life use their time wisely. We have often observed that students who study, eat or play on time are most successful in their careers.

Time is ultimate thing that we can not measure. If we better understand the time value, then we can gain experience and skills over time.

Time used for betterment of our knowledge is the biggest gift for our selves. Wasting your time is major reason behind unsuccessful life.

Our religion has also taught us importance of life through different prayers. The objects of nature also teach us the value of time.

Sun rises and sets at right time. This highlights significance of time. if we use our time wisely and properly, we will definitely get success in our lives.

Related Essays:

Time is Money Essay For Students
Essay on Time & Tide Waits for None For Children & Students

Value of Time Essay

Time is precious and priceless for everyone, so we never waste time. We should use our time properly in positive manner. Let your kids know about the value of time from their childhood using such simple and easily written essay on value of time.

Long and Short Essay on Value of Time in English

We have provided various value of time essay for the use of school students. These essay on value of time can be used by the students in their study, essay/paragraph writing competition or paragraph recitation, etc in the school/college.

Value of Time Essay 1 (100 words)

Time is more than money as money spent can be earned again however once time spent can never be earned. There is a common saying that “Time and Tide waits for none”. It is as true as existence of life on the earth. Time runs continuously without stoppage. It never waits anyone.

So, we should never spend our precious and priceless time without purpose and meaning at any stage of our life. We should always understand the meaning of time and use it accordingly in positive way to fulfill some purpose. We should learn something from this continuously running time. If it runs regularly without any stoppage, then why we cannot.

Value of Time Essay 2 (150 words)

Time is very precious to all of us. We should the value and respect the importance of time every single moment. We should not waste time at all till the end moment of our life. Time is very strong and powerful than everything in this world. It may destroy a lazy person as well as strengthen a hard working person. It can give lots of happiness, joy and prosperity to one however it may drop everything of one.

We should learn the regularity, continuity and commitment from the time every single moment. It runs continuously without any disturbance. We too always try to go with time side by side to get real success in the life. There is a true saying that “If we ruin the time, it ruins us and our life”. We should understand the value of time and go ahead with it because time never stays for anyone special.

Value of Time Essay 3 (200 words)

Time is priceless to everyone; time is free to all however, no one can buy it or sell it. One can destroy the time as well as use the time however it is true that one who destroy the time can definitely be destroyed by the time and one who use the time can definitely be blessed by the time. One who loses the time can never get it again. Time may destroy our health if we do not take our food in timely manner or take our medicine at right time. Time is like a running river which goes constantly ahead but it never runs back.

We should be very punctual according to the time and do our all work with time. We should wake up at right time, drink water in the morning, get fresh, do brush, take bath, eat breakfast, get prepare, go to school, do class work, eat lunch, come to home, do home work, go to play, read at night, take dinner and sleep at right time. If we do not do our daily routine at right time, we can be back from others in the life. If we want to do something better in life, it needs proper commitment, dedication and full use of time.

Value of Time Essay 4 (250 words)

Time is the most valuable thing on this earth; nothing can be compared with it. Once it goes, never be back. It always runs only in forward direction and not in backward direction. Everything in this world depends on time, nothing happens before time. Everything requires some time to get done. If we have not time, we have nothing. Loss of time is considered as the worst thing on this earth because wasting time, wastes us and our future. We never acquire lost time again. If we have lost our time, we have lost everything.

Most of the people value their money more than the time however it is true that nothing is as valuable as time. It is time which gives us money; prosperity and happiness however nothing in this world can give time. Time can only be used; one can never buy or sell it. Most of the people live their life in useless way. They enjoy their time by only eating, playing or other lazy activities with their friends.

In this way they spend days and years. They never think that what they are doing, in what ways they are living their time, etc. Even they never regret their ways of time wasting and never become sorry. Indirectly they have lost their lots of cash and most importantly the time which they never get back.

We should learn from the mistakes of others as well as should inspire from the success of others. We should use our time in doing some useful works so that time may bless us, not destroy.

Value of Time Essay 5 (300 words)

There is a common and true saying that “Time and Tide waits for none” which means time never waits for anyone, one should have to go with time side by side. Time comes and goes as usual but never stays. Time is free of cost for all but one can never sell it or buy. It is unbounded means no one can limit the time to any boundation. It is the time which makes everyone to dance around. Nothing in this world can defeat it or win from it. Time is called as the strongest thing in this world which can damage and improve anyone.

Time is very powerful; one can kneel down in front of it but never defeat it. We are not able to measure its potential because sometime only one moment is enough to win whereas sometime it takes whole life to win. One can be richest in a minute and one can be poor in a moment. Only one moment is enough to create a difference between life and death. Each and every moment brings lots of golden opportunities to us, we just need to understand the indication of time and use it.

Every moment is a big store house of the new chances in the life. So, we never let go off such precious time and make full use of it. If we do late in understanding the value and indication of time, we may lose both the golden opportunities and most precious time from our life. It is the most basic truth of the life that we should never allow our golden time to pass away from us unnecessarily. We should utilize time positively and fruitfully to go to our destination. The best way to utilize time in useful manner, we should make a time table to do everything at right time.

Value of Time Essay 6 (400 words)

Time is most powerful and precious thing than other things in life even from money in this world. Once a precious time goes, it goes forever and never come back as it runs only in the forward direction and not in the backward direction. It is very true that if one person does not understand the value of time, time also never understands the value of that person. If we destroy our time, time also destroy us very badly. It is true that “time and tide waits for none”. At a moment, time gives only one chance, if we lost it once, can never get back.

It is a wonderful thing which has no beginning and ending. It is a powerful thing within which things are born, grow, decay or die. It has not any limitation and boundation so it moves continuously at its own pace. No one of us has command over time at any stage of life. Neither it can be analyzed nor criticized. Generally everyone becomes conscious about value and importance of time however many of us lose patience during bad situations of life and start wasting time. Time never stops for anybody and never show kindness to anyone.

It is said that time is money however I think that we cannot compare time with money as once money lost can be earned by any means however once time lost can never be earned by any means. Time is more than money and other precious things in the universe. The ever changing time shows the unique property of nature that “Change is the law of nature”. Everything in this world changes according to the time because nothing is independent of time. People think that how long the life is, however the truth is that the life is too short and we have so much things to do in our life. We should use every moment of our life properly and meaningfully without wasting time.

Our daily routine schedule such as school works, home tasks, hours of sleep, waking time, exercise, eating, etc should be well planned and organized according to the time. We should enjoy working hard and never postpone good deeds to work later. We should understand the value of time and use it accordingly in constructive manner so that we can be blessed with time not destroyed with time.

Related Information:

Essay on Time Management

Paragraph on Time Management

Essay on Time

Speech on Time

Speech on Value of Time

Essay on Time is Money

Money essay, music essay, importance of education essay, education essay, newspaper essay, my hobby essay, leave a comment cancel reply.

Your email address will not be published. Required fields are marked *

Time Value of Money Exemplification Essay

To find inspiration for your paper and overcome writer’s block
As a source of information (ensure proper referencing)
As a template for you assignment

Introduction

Decisions that utilized the concept of time value of money, reference list.

According to Kuhlemeyer (2004), time value of money means that money at hand today is worth more than the same amount at a future date. It is the amount by which money will grow to in the future. In simpler terms, it is the net increase or decrease in the amount of money. He affirms that the concept helps to determine the amount that one will earn in the future.

This concept results from the existence of charges due to the use of other people money. There are different sections under time value of money. According to Kuhlemeyer (2004), the concept of simple interest, compound interest, compounding and discounting are used to assess the time value of money.

The process of growing money from its present value to its future value at a given duration and interest rate is known as compounding. Discounting is the process of calculating how much future value of money equal to at present.

The instance was when one of my business partners owed me money which I had lent to him as a loan. The person was reluctant to repay the money, and I took him to a law court. After the careful analysis of the evidence that I presented, the case was ruled in my favor and the judgment specified that the loan should be repaid to me.

I further made a request that the borrower should not repay the exact amount that I lent. In that instance, I was claiming that the amount I lent should be repaid with an interest. An agreement had to be entered to determine the amount of interest that was payable to me. The rate of interest was determined by considering the prevailing economic conditions, and it was determined as the prevailing market interest rate at that time.

Compounding was done on the amount that I had lent out using the market rate over the duration of time the person held my money. As a result, the amount of money that I received increased tremendously.

Computation was done using the future value annuity factor, considering that variables like principal, interest rate and duration were known. Having applied the concept of time value money, I was able to obtain extra income from that transaction. If I had claimed the original amount I had lent out, I would have obtained relatively less.

Another instance where the concept of time value of money was applied was during a rotary competition in my home country. The winners were to be awarded a total of half a million shillings. It happened that I was declared a winner among other people. As the winner claimed their money, I was reluctant since I had a decision to grow the money so that it could increase.

An agreement was entered between the rotary committee and me so that they could be paying me as an annuity at the end of every month. This was advantageous move as the money was earning me interest at the prevailing interest rate. The compounding formula was applied to determine the amount at the end of every month. If I had claimed the money as a lump sum, then I could have obtained a lesser amount than what I finally got.

Kuhlemeyer, A. (2004). Fundamentals of financial management . USA, Pearson Carroll College: Waukesha Pearson Education Limited.

Financial Performance of Covidien PLC
Option Theory in Finance
Financial Compounding and Net Present Value
Adaptive Reuse: Compounding Pharmacy in Las Vegas City
DC Stepper Motors: Power Element for Control
Planning Financial Strategies
Financial Management: Johns Hopkins Hospital
Corporate Financing: Long Term and Short Term
Life-Cycle Costing in the UAE Private and Public Sectors
Financial Markets After Terrorist Assault and The Enron Financial Outrage
Chicago (A-D)
Chicago (N-B)

IvyPanda. (2019, June 26). Time Value of Money. https://ivypanda.com/essays/time-value-of-money/

"Time Value of Money." IvyPanda , 26 June 2019, ivypanda.com/essays/time-value-of-money/.

IvyPanda . (2019) 'Time Value of Money'. 26 June.

IvyPanda . 2019. "Time Value of Money." June 26, 2019. https://ivypanda.com/essays/time-value-of-money/.

1. IvyPanda . "Time Value of Money." June 26, 2019. https://ivypanda.com/essays/time-value-of-money/.

Bibliography

IvyPanda . "Time Value of Money." June 26, 2019. https://ivypanda.com/essays/time-value-of-money/.

Essay on Value of Money

Students are often asked to write an essay on Value of Money in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Value of Money

Understanding money.

Money is a medium of exchange for goods and services. It is a tool that allows us to buy what we need and want.

The Importance of Money

Money is important as it enables us to live comfortably. It provides us with food, shelter, and education.

Managing Money

Learning to manage money is crucial. It involves budgeting, saving, and investing wisely.

In conclusion, money has immense value. It’s not just about buying things, but also about securing our future.

250 Words Essay on Value of Money

The concept of value.

Money, a medium of exchange, has transformed from barter to digital currencies. It holds a value that is universally acknowledged, enabling people to acquire goods and services. However, the value of money isn’t merely its purchasing power. It also represents opportunity, security, and freedom.

Money as a Measure of Worth

Money is often perceived as a measure of worth. The more money one has, the more value they are perceived to hold. This perspective, however, is flawed. Ascribing worth to individuals based on their wealth can lead to a distorted understanding of value, neglecting qualities like kindness, creativity, and resilience.

The Temporal Value of Money

The temporal value of money is a crucial economic concept. It suggests that money available now is worth more than the same amount in the future due to its potential earning capacity. This principle underlies the concepts of interest, investment, and risk.

Money and Freedom

Money can grant freedom, allowing individuals to make choices and decisions without constraints. However, this freedom can also lead to a paradox where the pursuit of money becomes a trap, limiting personal growth and happiness.

In sum, the value of money is a complex concept, extending beyond simple purchasing power. It’s a measure of worth, a temporal asset, and a tool for freedom. As we navigate our financial journeys, understanding these various dimensions can help us use money as a tool for fulfillment, rather than viewing it as the ultimate goal.

500 Words Essay on Value of Money

Introduction: the concept of money.

Money, a medium of exchange, is a fundamental concept in our society. It is a tool that allows us to acquire goods and services, and it is a measure of value that facilitates trade and commerce. However, the value of money is not just limited to its purchasing power. It has a broader, more profound significance that extends to individual lives, society, and the global economy.

The Personal Value of Money

On a personal level, the value of money is often equated with freedom and security. It provides the means to fulfill basic needs and pursue personal aspirations. It also offers a safety net against unforeseen circumstances. However, it’s important to understand that money is a tool, not an end in itself. The value of money lies in its use and the quality of life it can provide, rather than the accumulation of wealth for its own sake.

The Social and Economic Value of Money

Societally and economically, money serves as a common measure of value, facilitating trade and economic interactions. It is the lifeblood of the economy, enabling the flow of goods and services. Money also confers social status and power, often serving as a yardstick for success. However, this can lead to societal disparities and economic inequality, highlighting the importance of fair wealth distribution.

The Psychological Value of Money

The time value of money (TVM) is a fundamental concept in finance. It holds that a dollar today is worth more than a dollar tomorrow due to its potential earning capacity. This principle underlies many financial decisions and strategies, emphasizing the importance of prudent management and investment of money.

Conclusion: The Multifaceted Value of Money

In conclusion, the value of money is multifaceted and extends beyond its purchasing power. It holds personal, societal, economic, psychological, and temporal value. Understanding these aspects can help us navigate our financial decisions and foster a healthier relationship with money. However, it’s crucial to remember that while money is a powerful tool, it is not the sole determinant of success or happiness. It is the means to an end, not the end itself.

If you’re looking for more, here are essays on other interesting topics:

Happy studying!