Time and Money: Are the two actually that different?

Authors Avatar by Jensenpon (student)

Title: Time and Money: Are the two actually that different?


        We spend time and money everyday. At the start of each day we have a stockpile of them, but towards the end of the day this stockpile is drained up silently. We are left with a few spare change and several hours in our inventory. Although both of these resources will inevitability be consumed, the mentality that goes into spending them is fundamentally different. We think about spending money twice but don’t think about spending time, but the truth is both resources are actually quite similar. I will compare time and money in terms of their quantitative nature, varying availability and perceived value.

        Time and money are measured quantitatively. Time is measured based on a set of universally agreed numerical values and units such as seconds, minutes, hours and days; Money is measured based on a unit of account which is generally a country’s issued currency such as dollars, pounds and euros. These quantitative forms of measurement are objective and constant resulting in quantifiable control on the amount of time or money spent. We often forget we have control over time because we have a tendency to over focus on tangible quantifiables like cash notes and salary paycheck, rarely do we calculate how time we spend on doing an activity. A good metaphor to describe how we treat time is driving to a destination without calculating the amount of fuel required for the journey. The driving represents the activity we are doing, while the fuel represents the limited time we have. A solution to this forgetfulness is to use planners and watches to keep track of time. Therefore, time and money can be effectively controlled through the use of technology.

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        Time and money have varying availability. While our money earning power will increase over time, the time we have will keep decreasing. There is no limit to how much we can earn, but there is certainly a limit to how much time we use. The limited availability of time seems to make time more valuable. However, this not the case as the two are actually codependent. Money is earned by spending time; time is earned by spending money. According to Roger Oprandi Jr., a certified financial planner (senior vice president of Vega & Oprandi Wealth Partners), saving money earlier ...

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