5 Reasons Why Time is More Important than Money

If someone asked you, would you rather have more time or more money, without even thinking, you would probably say you need more money. More than likely, this is because your main goal right now is to get money. However, if you had more money and were satisfied with what you had, you would then realize time was the next more important thing. Just because you haven’t reached your financial goals yet, however, does not change the fact that time is more valuable than money. Time is more important than money because time on earth is limited and under some circumstances, time can not be bought. You can always get money if you have time but you can not always gain time if you have money. Let’s go more in-depth to clarify.

1. Why Time is More Valuable than Money

As we already mentioned above, time is more important than money because you can not buy time no matter how much money you have. Although you may desire money more than time, you will favor time more when your financial desires have been met. Let’s use an unfortunate dark example to explain this.

Time Over Money Example

If a doctor says you have one week to live, would you rather have more time or more money to solve that problem? Your answer should be time if you want to live. The doctor didn’t say that you needed more money to live. The reason the doctor said you had one week to live was related to the cure for “Old Age” not being yet discovered. The reason the cure has not been discovered is that scientists need more time to test, study and find a cure. The scientists could already have the funds but, they just need more time to analyze the data. As a result, if you had $50,000,000.00 to pay doctors, your one-week timer would still remain the same.

2. Experiences In Time Can Be Priceless

I’m sure if you don’t live paycheck to paycheck, you’ve had an occasion or event that you would have rather been to at a particular time. However, since you needed to go to work, the event was missed. Have you ever heard the saying “I would have given X to be at that event?”

Those First Steps

Let’s say you had to work overtime on Friday and your significant other was at home with your child. For most parents, the first baby steps for your child is a significant event. Can you imagine yourself saying “I would have given up my $500.00 paycheck to see those first steps!” To you, that day’s worth of work was not worth the time you lost with your family. As a result, the time was more valuable than the money and you can not give any amount of your money to get it back. Let’s just hope those first steps were recorded for you.

3. You Can Almost Buy Time

Now, you may have noticed in our original answer that we said: “under some circumstances, you can not buy time”. If you were wondering what that meant, we will cover it now. You can buy time when you consider outsourcing tasks that you were responsible for. Let’s look at an example.

Outsourcing Tasks Example

Let’s say you took our recommendation and started your Amazon Book Writing business. Now you spend ten hours or less per week writing books for passive income. Since you need ten hours next week, to teach a friend, you might consider paying someone else to write content for you for ten hours. As a result, you essentially bought time to spend with your friend. This example can be used in an infinite number of ways. The main point is that you can pay others to do work for you resulting in your time being freed up to do something else.

4. You Have Time to Spend

Another thing we mentioned earlier was that if you had to pick time or money, you would likely pick money. This is likely because right now you do not feel time would be a solution to your problem. You feel like you have time but it’s not working for you to reach your goals.

Time Solution Example

However, if you had more time, let’s say you didn’t have to go to work, and you gained an extra 40 hours per week to do anything you liked. One thing you could do with those 40 hours was to learn how to get more money. As a result, having more time could essentially make you rich. But, since you’re working 40 hours per week right now, you are stuck in an endless cycle thinking you need money to solve your problems when you could have the same issue even if you became a millionaire overnight.

Why Money Won’t Solve Your Problem

Let’s say you hit the jackpot of 3,000,000.00. Take that money and go buy a mansion, an exotic car and all the things you’ve always wanted. However, if you haven’t learned about money, you would still end up needing money again pretty fast. As a result, a shortage of money isn’t really your problem, it would be more likely the issue is relating to how the wealthy make money and how the poor make money. Read how we explain the big difference between the two here.

5. Time is Money

Lastly, the reason why time is the most important is that time is money. As a matter of fact, I bet you have heard the phrase “Time is Money”. That phrase is true because as long as you have time, you can always create more money or income. Let’s use an example.

Real Estate Example

Let’s say you had a multifamily home you were renting. Every month, the multifamily home generated $500.00 after expenses. This means, (without getting too technical) you will receive $500.00 every month for the entire year resulting in $6,000.00. In order to make that money, all you needed was time. Moreover, you can do the same thing if you had five multifamily homes. This would bring you to $30k per year only by owning the properties for one year. Thus, over time, you make money aka “Time is Money”. 

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