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As far as I can remember, I heard the adage: “Time is Money.”
I thought it meant I shouldn’t waste time, and before doing something myself, consider whether it was possible to have it done for a lower amount than what I could earn with that time. I thought that work was about time for money.
Today, I understand much better the adage meaning.
Treat your time as your money: budget and invest wisely.
If you don’t use your time wisely, it’ll just vanish like money spent on objects that lose value instantly as you purchase them.
I’d argue that it is even more crucial to care about time because it is finite when, at least in theory, you can always make more money.
On the other hand, managed and invested intentionally, time like money will generate interests, in the shape of more free time.
Allow me to share three steps to achieve that.
#1. Never trade time for money.
What I mean by that is to avoid work that doesn’t generate any additional value for you than being paid an hourly wage.
The bare minimum is to make sure that you will get the opportunity to learn new skills and be trained to progress towards a higher compensation.
#2. Budget your time like your money.
Budgeting guarantees two things. The first is that each unit of time has a purpose and only a single one. The second is that such purpose is the most valuable opportunity for that unit.
#3. Invest your time for higher returns.
Last but not least, try as much as possible to invest your time in activities that will later generate income without requiring more time.
If, like me, you didn’t realize that earlier, don’t worry, it’s ok. What matters is, from now on, to treat your time like your most valuable resource.