“Time is Money”. The phrase is usually accredited to Benjamin Franklin but is challenged by others. Who said it exactly isn’t really the point of this post. When the words were first popularised Franklin spoke of time being valuable. It’s the most valuable asset that you have, priceless if you will. No matter how rich we become we’ll never be able to buy more than we’ve been given. But today I want to flip this around to help us in the quest of reaching those savings goals as a part of the #SavingSeason.
As I’ve said many times before, I have a soft spot for beautiful things. There’s nothing wrong with that. I work hard and choose to treat myself when I can. But imagine this scenario for a moment if you will: You’ve worked for a full month. Earned a full wage of £1000. Your manager comes to your desk and tells you that instead of paying you this month, she’ll give you a new handbag totalling the £1000 you were expecting. Would you accept a handbag instead of your wage? Would a handbag pay your bills, or put petrol in your car? No. Yet we choose to exchange a month of working hard without giving a high priced decision as much time as it deserves.
This may be an extreme example but think of it as a more frequent decision that we make every day. Would you say no to an hour’s wage for a high street coffee and panini? Would you swap a day’s pay for that new foundation and lipstick?
I should say that there’s absolutely nothing wrong with choosing to spend your hard earned money in any way that you choose. We all do it. But if you think of your purchases in terms of hard worked time that you’ll never get back you’d be amazed at how your decision making starts to change. A good practice to get into is to start thinking of your purchases in terms if time rather than money. Exchanging 2 hours for this, and 15 hours for that.
I bought a handbag a few weeks ago that I’d been contemplating purchasing for months. Did I save up for it myself? Yes. Did I pay the bills that needed paying before making the purchase? Yes. Do I (in my own way) deserve it? Yes. After buying it with over 100 hours of my time will I keep it?… Good question.