Time versus Money

The dilemma between time & money is as old as society. Both are in essence two sides of the same coin.  We exchange time for money by going to work/running our businesses, and we exchange money for time by buying a washing machine for example.
 
Both time and money are very similar on many levels. Even the language we use when talking about them is similar. We talk about spending, saving, wasting and less often investing time & money.
What we do with both time and money should always reflect our values, beliefs and desires. If it does we tend to be happy, if it doesn’t it leaves us with a feeling of ‘something’s missing’.
 

It’s all in the balance
We all want to strike a balance between time and money. We may not realise this because the importance of the balance tends to come to life precisely when that balance missing. Plenty of time and not enough money for our basic needs, we get into debt and trouble. Plenty of money and no time to enjoy it, we end up miserable.
 

The power of choice
People often tell me: ‘But I can’t work less, I have a big mortgage to pay’. Yes, on the face of it this is a statement that rings true. Is there anything we can do to change it though? Here in the UK the vast majority of us are very lucky in that we have at least some degree of CHOICE. Everything in life is a choice. We do things because we want the results, or we don't want the pain. I don’t have to pay the mortgage, I do it because I don’t want to lose the house I’ve chosen to live in. I don’t have to pay taxes, I pay them because I don’t want to end up in jail. 
Realising and accepting that we have a choice in most of what we do helps us recognise that we have control over much more in life than it seems at first. This realisation enables us to take action.
 
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Now is a good time
How are you choosing to use your time/money? Is it in line with your values? A time of big changes (right now!) is exactly the right time to look at your spending/saving/investing/wasting of time and money, to ask the hard question of what’s important and to look at your spending. Here are a few pointers to start off with:

• Be aware of saving time, or money, then wasting it on something that is not important to you. Finding out your real priorities can be difficult and the independent presence of a coach may be helpful.
• If you live with a partner talk to them about what’s important to you both. It is essential that you both have an understanding of each other’s priorities and that those are aligned. This is a topic that deserves more space and I will come back to in future posts.
• Jot down how you spend your time and money at present. What are the areas you would like to cut down on? There will always be trade-offs – are you happy with the price you pay for your luxuries? Both in terms of £s but also in terms of hours.
• You may find that you are spending too little time or money on something and in fact you need to spend more. This is not about cutting, it’s about finding a balance.
• Where can you invest your time/money now so that can you can reap the benefits in future?
• You may by now be aware of areas where you are wasting your time/money. What can we do about it?
• An important consideration – having a ½ hour to yourself meditating on the sofa to recharge is not a waste, nor necessarily is playing a computer game. It all depends on your priorities. What might look wasteful to you could be essential to someone else so be understanding of your partner’s needs. And of your family’s needs. These needs will not be exactly the same as yours.

 
 
As it’s been said before, we all have 24 hours in the day, every day. Remember, it’s in your power to choose how to use them. Get in touch here.