The Best Money Blog

What Is More Important, Time or Money?

Why are you saving money? Is it so that you can have a fat wallet, nice clothes, and a house full of toys, or is it so that you can get rid of all your responsibilities and spend your time however you want to without worrying about any repercussions?

I wanted to take a minute (see I am using my time wisely) and really think about what our goals should be as we learn to make and save money.

Making Money vs. Making Time

Are you making and saving money without a real goal in sight, or are you making and saving money so that you can free up your time?

Making money for the sake of making money puts you in the same position as somebody who is stuck working in a dead end job. If you are working with the single goal of earning more money, then you will never reach your final destination. You can always create more money, but you can’t create more time than what already exists.

If you have what it takes to get there, at a certain point you are no longer obligated to spend your time doing something you don’t enjoy, and this is the dream that most people strive for. What is the point of having nearly unending money if you have no time to enjoy it? Time is far more valuable than money alone.

What Is So Great About Money?

There are a lot of things money can do, including buying happiness. With a limitless supply of money you could:

• Travel to faraway lands
• Build the home of your dreams
• Give your friends and family all the gifts you want
• Support a charity that you believe in

The sad thing is that a lot of people have a lot of money, but more often than not, these people are slaves to that money. Once they stop working, the money stops coming. You don’t want this to happen to you do you?

A New Outlook on Money

I recently tried something that has changed the way I think about work and money. We all have ideas to earn more money, like doing side jobs, starting a business, or creating streams of passive income, but what if you were to spend time thinking of ways to increase your free time rather than increase your wealth?

It is a strange way to think of things, but I assure you, it will bring things to light that you never would have thought of otherwise.

The lifestyle of many people today is that of nonstop action.

Wake up at 7 so you can go to the gym, drive straight to work, spend your lunch hour on the phone trying to take care of your personal business, take your kids to sports practice right after work, go to Bible study, pick up the kids, make dinner, work on your side business for a few of hours, get ready for bed, watch the 11 o’clock news, sleep, rinse, lather, repeat.

This may sound ridiculous but is all too common. What if you were to simply eliminate or reallocate some of that time?

Maybe cut back on going to the gym from 6 days a week to only 3, talk to the parents of your kids soccer team about carpooling to and from practice each week, or even pick up dinner on the way home from work.

By doing just those three things you would be able to save nearly 5 hours a week. If you were to spend that time focusing on earning money through passive income, it would be like having 9 days in a week when compared to your previous schedule.

How many times have you wished for more hours in a day?

I know I talked about making time rather than making money, but the point of freeing up your time now is to be able to make and save money so that you will have complete freedom with your time at a closer point in the future.

Slow and steady is said to win the race, but wouldn’t fast and steady reach the finish line sooner? Work hard now so you can play hard sooner.

There is the danger of burning out by overworking yourself, but by dedicating your free time to your future, you can bring your future closer to the present.

Do you spend a lot of your free time on seemingly worthless things? Couldn’t you be doing more to get ahead of the game?

What ways have you been able to gain more time in order to earn more money?