What is the real value of time? Everyone knows the saying: “time is money.” Can this really be true? Well, let’s think about it – in some scenarios you work more hours (if you get paid by the hour) and you make more money. So in that regard time can literally equal money.
Did you see the Justin Timberlake movie which takes place in a society that utilizes time as their currency? Basically the premise is that people earn and spend time as apposed to dollars. When you go to the bank for a loan, you borrow time, not money. Interestingly enough, we are all here on borrowed time so that kind of makes sense. Can you imagine a society with no money, but only time? It would really just be a different form of currency, such as a bitcoin (if you haven’t heard about these, than do a google search as they are really making headwinds as a potential new currency).
Back to the question of is time really money? In a way, it seems like it is, but there are many contradicting statements to go against it. “Such as, work smarter, not harder.” In this scenario you could have two people being paid equally, where one finishes the job much faster by utilizing a better methodology. So if you could use that extra time to make more money, than maybe time is money. Well for someone getting paid by the hour, why would they care, right? Why not just hang out, go on facebook or take an extra lunch break? Well if a superior finds out, they could lose their job for wasting time (money).
When you look at big organizations or businesses, they are always looking for ways to become more efficient (usually to save time). They are willing to spend hundreds of millions of dollars upfront, to permanently cut costs on the back end for outdated processes. Would you rather send 1000 emails individually to a thousand different customer or just do a blast and hit them all at once?
Technology has obviously changed how we spend our time (& money) and how we interact in society. Previously when you would go to a grocery store you would stand on line and wait for the cashier to ring you up. You might even stir up a conversation with them. Now when I go into a supermarket it’s a pretty isolated experience. You really don’t need to speak with anyone. In fact, when you look down at the cashier lanes, they are usually empty. Seems as if people, do not even want to risk the chance of engaging in a real conversation with another human.
At the end of the day we have determined that time is really money, because if it weren’t than why would people spend so much money trying to save it. It’s hard to consciously watch the second hand tick on a clock and say “oh no, another penny”, but in a sense, time is really that precious.
“Time is money” Benjamin Franklin