The old phrase remains true. Time is indeed money, but the misconception has evolved that you should invest all of your time chasing money. In all actuality, no one who is rich ever became rich chasing after money. I would even go as far as to validate that those who spend their time chasing money always lose. They lose in the form of losing their lives or are in jail due to greed. Contrary to misconceptions, you become wealthy by investing time in what you love to do. Don’t believe this statement? For Example, Apple inc. would NOT be where it is today had Steve Jobs been chasing money. Instead he invested his time in doing what he loved to do which was writing programs and troubleshooting. In addition, he used his character and skill to perfect his technological advancements. Never thinking of money, He honed in on excellence. His initial investment and dedication of time in doing what he loved to do, made way for him to be profitable.
Where does this place you?
Too much time and energy is placed in chasing the dollar in the U.S to the extent that one may lose sight of their own purpose. What makes an individual work 40+ years at a job that they barely even like? Slowly but surely, the days of baby boomers working aimlessly for companies for decades without question is phasing out. The Millennial worker is questioning: Why do we have to work half of our lives and retire with little to go? Why should we work 40 hrs a week and have less time to be with the ones we care about. Technology has reduced the number of hours required to do a job… most companies just haven’t caught on yet or simply refuse to let go of the traditional 40 hr week. Does this company reflect who I am? Why invest so much time into something that is completely in the opposite direction of what DRIVES you. Your time is far more important when it comes to investing than money.
Evaluate Circumstances.
If you ever find yourself chasing money, you have to completely re-evaluate your financial circumstance. Money should always be optional. It should never demand or dictate the timeline of your life. Why did you miss that event? “Oh, I had to work”. NO. You should place yourself in a position where taking a day without PTO, doesn’t even hurt anything. Are you truly happy with the circumstance you’re in? What can you do differently to invoke a change . How about investing that time into your side business to grow to the point where you don’t need PTO to take off because you are your own boss. This is a new era of technology and internet; there are so many ways to earn money independently that it’s not even funny. In addition to multiple streams of income, investments should be employing your money while it waits for you.
Obligations.
Monitor your financial obligations whenever you find money dictating or motivating the decisions you make over the long term. How are your spending habits. Do you shop Excessively? What makes you rely on overtime in order for your living expense budget to balance. Is your rent currently too high? Is that Car you have an excessive obligation? Student Loans? What are your options to limit the effect of high payments. Are you using what you do have properly before you focus on what you don’t have. Don’t let these obligations consume you and your time. Soon you’ll find life is passing you by because you’ve dedicated all of your time chasing money. You’ll be chasing money to pay off debt, paying time for your pride, and paying time for your mismanagement of funds.
Preparation for the Journey
In fact, Steve Jobs wouldn’t have been able to quit his day job, invest in what he loved, and start Apple inc, in his garage, if bad money management dominated his financial outlook. He was financially stable prior to his investment of time.
The purpose of investing your time wisely is to give you options in life. Options which do not obligate you to doing something you hate for the rest of your life. Options without limitations on what you can or can not do. Limit the control your obligations have over you. Manage what you do have…to obtain what you do not have yet. Time is truly of the essence, do not regret your investment.
