We use the phrase ‘time is money’ to refer to the fact that, if we manage our time well, we can also increase our earnings. This phrase also refers to a correlation between time and money that exists in many different walks of life.
5 Reasons Why ‘Time is Money’.
1. Our working hours are when we earn our wages.
Simply put, each hour that we spend at work correlates to a certain portion of our wages. We are, quite literally, being paid for our time.
2. Using time productively is more cost efficient.
If we are working on a certain project, we will want to get it finished in a timely manner. Spending too much time on a project can result in over expenditure in terms of resources and wages for workers.
3. Wasting time can be a waste of money.
When we do not use our time well, we often waste money too. We put off freelance work projects that, if we finished them quickly, could earn us a lot of money. Or, we spend idle hours shopping online and buying things we do not really need on the high street because we have not thought up a way to use our time effectively.
4. Getting things done quickly makes space for more money earning projects!
If we get our work done quickly, we then have more space in our day to start work on other projects. For example, if we work efficiently at one job during the daytime, and get all of our work done before closing time, we will then have more space in the evening to work a second job if we need to. Of course, working two or more jobs can be difficult, but it can be a good way to earn extra cash if you are struggling at the moment. It is just important that you leave some time for leisure as well!
5. The metaphorical interpretation.
We can also use the phrase ‘time is money’ in a metaphorical sense to mean that time is precious, just like money is. Time is, you may have heard people say, one of the most important things that we have in our life. And, giving someone the gift of your time (for instance, by taking the time to visit them, to help them out with something around the house, or just to listen to them talk when they have had a stressful day) can be just as meaningful - and often even more meaningful - than buying this person a gift.
Conclusion.
There are many ways in which time can be said to be money. Time is money in a literal sense: at work, we are paid for the time that we spend working. However, time is also money in a metaphorical sense: time and money are both precious things. And, in general, we often find that if we manage our time well, we find that we are able to manage our finances better as well. It is all about being disciplined and in control of our own lives. It is never too late to start with good time management and money management practices!