Time is Form of Money

We fail to forget that time is much more valuable than Money. The money lost can be earned, but the time lost cannot be earned. If we don't value our time, no one will and eventually we will be poor. The rich usually spend money to free up their time and the poor usually spend their time to earn money. And that's why we have to be in that place where even if we are not spending our time, we are earning money.

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Let's take an example, that in India we pay around 50% of our earned money to yhe government which includes direct taxes, indirect taxes, GST and what not. That means if we are working 9 hours, in thar 4.5 hours goes to the government. And if someone is working for 30 years, 15 years are going to the government in the form of taxes. And that's why the government doesn't want you to retire because till the time you are working, the government is earning money.

And now say for example, you can earn $10 every hour with your side gig. And say you have to spend an hour in your house for cleaning and other things. So you decided to hire a help and pay her $5. So now that time which you have saved can be spend on earning money, and you have saved the time by hiring the house help.

Now I know when you are young you have a lot of time but no money. So what we should do is to utilize that time to improve our skills and earn money. As we grow older we should use that money to earn more money and thus free up some of our time. And that's what the FIRE movement is all about. People use their time to watn a lot of money in the initial years and then they use that money to get monthly expenses and have a lot of time. So we can say that time is also a form of money and someone who knows how to manage the time can actually earn big.

Posted Using INLEO