Time versus Money

Time vs Money

Which is more valuable to you? Your Time or your Money?

My first thought is that time is more valuable than money. Money is an abstract item that we exchange with others for goods and services. People have and will make lots and lots of money. The top result is potentially endless on how much you can make. Time, on the other hand is finite. We all have around the same average time to live on this planet. Some had less and some have more.

We sometimes forget what giving our time means. I fall into this trap. We are all so busy and it is easier to put off spending quality time and energy with someone or with your team. Let me make the argument that spending quality time with someone is worth more than money that you pay or give to them.

What are the benefits of giving your time to someone?

I have been experimenting with using time more wisely.

When you have very little to no money, which is more valuable to you? Time or money? I will argue that time is still more valuable, even when monetary resources are scarce. Because, when you have no money, using your time wisely is even more important. By that I mean your time must be spent in ways that should be saving you money or making more money for you. How else are you to live?

Even when money is very scarce, it reasonably could be said that the scarcity increases its value. For instance, when you have little cash you will value every penny spent. But time is still very limited, and ultimately very short. Use your TIME wisely, and it will produce benefits that go beyond anything money could buy.

This is why I highly encourage spending your Time reading meaningful books. It can be so potentially valuable, the useful ideas and information gleaned from great writing. You only have the one-time cost of the book, which currently books are relatively cheap (library and used), and what you get out of the book could potentially change your life in so many positive ways. You have access to some of the great minds and ideas of the world through books.

Spending your money on experiences is also a great investment in time and money. Especially as it involves spending time with your friends, family or your team at work. This time can be used to build relationships and camaraderie in teams as well as families. Have you ever really regretted spending quality time with your family and friends? I will venture to say most would say no. But how many times have you regretted spending money on things frivolously?

What does all of this mean for you as a leader in your group or team? Spending quality time with your group is an obvious way to reap long term benefits. But you should also be spending your time thinking about how you can help your team to grow and succeed. Or coming up with ways that you could create opportunities or to remove obstacles to help them succeed. To me, that could be the most productive use of your time ever spent.

Here are a few ideas to get you going on spending your time with your team more wisely.

1. Celebrate milestones and big successes. Getting everyone together to celebrate achievements whether big or small, individual or team is big. This accomplishes spending quality time with your team as well as the feel good that comes with celebrating team successes.

1. Schedule in creative team building events. I know sometimes these can be a little drab and not to meaningful. You should strive to make them fun and interesting and helpful to bring others together, adding elements of professional development.