Summary

The article discusses the importance of valuing time over money and offers strategies for achieving a balance that prioritizes time freedom and personal growth.

Abstract

The article "Winning Principles of Money (And How To Get More Valuable Time)" emphasizes that at certain life stages, time becomes more valuable than money. It suggests that the pursuit of more time or time freedom reaches a point of diminishing returns, where the benefit of additional money is outweighed by the desire for quality time and life balance. The author reflects on the impact of recent volatile years, suggesting that they have prompted a reevaluation of life priorities and legacy. The piece outlines timeless money principles, such as diversification and understanding opportunity costs, and provides personal tips for maximizing time. It argues that time becomes increasingly precious with life's milestones and that strategies to leverage time are essential life skills. The article also critiques the past tendency to undervalue sleep, advocating for a balance that prioritizes health and recovery, and suggests using imagination and substitutes for experiences to save time and money.

Opinions

The author believes that the traditional reliance on jobs for security is becoming obsolete due to changing economic landscapes and the introduction of new financial instruments like cryptocurrency and NFTs.
They advocate for a diversified approach to finances, suggesting that not having all your eggs in one basket provides security and peace of mind.
The concept of opportunity cost is highlighted as a critical factor in decision-making, even more so than inflation, as it involves the trade-off of what could have been achieved with the chosen path.
The author is optimistic about the future, viewing it as a time of different but better promises, and encourages a strategic approach to balancing tasks and priorities.
They suggest that the value of time can be learned from money, with the principle that money today is worth more than in the future due to inflation and personal growth.
The article promotes the idea of leveraging time by being more productive, including reevaluating the need for certain experiences and using imagination to fulfill desires without the associated time and financial costs.
The author challenges the notion of sacrificing sleep for productivity, emphasizing the importance of adequate rest for health and suggesting that societal attitudes towards sleep have shifted significantly.

Winning Principles of Money (And How To Get More Valuable Time)

At points in your life, time becomes more important than money. That point happens when you decide trading money for more time or time freedom has reached its marginal utility (where there’s no additional benefit).

This can arrive as an a-ha that you won’t get this time back. Or you become comfortable enough in assets and want more quality time and balance in your life. Besides, you only get to do 30 once.

And maybe the past volatile couple of years was an eye-opener where you’re rethinking your life, your longevity plan, or what you want your legacy to be (wanting every day to count).

But when you’re young or struggling, you’re limited to learning to stretch a dollar and live off less. You forego adventuresome activities you want to do because you don’t have the luxury. The times when inflation increases don’t mean anything because a percentage added to near zero is still zero. Those humbling times are good for growth.

That’s when most of us start accruing our net worth with a job (or start-over job). But that landscape is all changing. Lessons learned from our elders who relied on a pension or social security aren’t going to apply to a futuristic new world offering cryptocurrency and non-fungible tokens. Jobs today that lasted for decades are almost obsolete.

Employee job security became replaced by not-uncommon job dissatisfaction and people wanting more and better from this life. The traditional ways of the past are diminishing into our future.

That future has different but better promises. This isn’t a Debby Downer article… and if you knew me (or have read other articles I’ve written), that’s not my way anyway. I’m a practical, eternal optimist who takes what-is and considers the opportunities.

So with that in mind, I wanted to share some timeless winning principles of money and personal tips on how to get more time on your side that is becoming more valuable than even money.

Winning Money Principles

Diversify Principle.

No one has a crystal ball answer. Even money experts go on history, which never guarantees futures.

Anyone can see evidence of the recent past and realize the future is unpredictable. So if you don’t put your money in one place or “all your eggs in one basket,” then you build a cushion where a worrying head will rest better on the pillow and the freed-up money mattress is more comfortable.

Opportunity Cost Principle.

Opportunity cost is the greatest cost to focus on, even more than inflation. When an opportunity is taken, time and energy are put into that opportunity, and not another.

I learned this concept working in hotel sales where the highest cost is not selling a room. Opportunity loss eats into fixed costs like overhead and rent. The same concept applies to life opportunities of what’s not being done that’s the highest cost.

Another way to see this is by coming up with strategies that take up thinking space and time. If that same time is filled with non-strategic busy activities, then time is spent on tasks and not on higher priorities that move the needle. Both are important. But, knowing when to do which of these is a strategic balancing act involving opportunity cost.

Time becomes more valuable than money.

With milestones in your life and for each golden egg opportunity you land, the concept of time value becomes transparently obvious as you juggle more to do.

Maybe you’ve been there a few times or haven’t yet.

For the latter, the value of time can be learned from money. The principle is that money today in the present is worth more than it will be tomorrow or next year.

That’s why inflation is an important consideration even during steady rate years. Costs in the world grow higher in the future. And individually when you grow in age and maturity assume more important responsibilities. One wise goal can be to get more leveraged time.

Learning how to get more time back from the 24 hours you have today is a winning life skill so you can be more productive in your finances, relationships, and health…

How to Productively Save Time

In America’s past, one way to save time was to sleep less. That was the zeitgeist at the turn of the century (2000): sleepless and accomplish more.

Then by 2020, the belief reversed. In awareness, society woke up. The Western world's message today is more sleep for better health and full-body recovery.

You see this in health articles everywhere and on all the sleep tracking accessories available.

Overnight, we’ve gone from a light beauty sleep mentality of fewer than 6 hours a night to Sleeping Beauty for a full average of 8 hours. And further highlights the idea that everything stays the same — until it doesn’t.

These days, even daylight savings time is strongly up for debate, adding back more than just two hours of sleep. And when you put natural Circadian Rhythm into question, that’s serious.😀

So, with the time you can control, here’s an idea of what you can do now:

Use more of your imagination.

When you live for a feeling, you can never satiate the high enough. Your mind-body wants more as time wanes. So then you’re back on the roller coaster of catching a new high.

But, you could change that way and save travel time. You could use your mind to evoke a feeling (i.e. an experience) — and not take time to stand in line and add more time and money to the gas tank and any distractions along the way. You could wisely use the same money (you would’ve spent) to invest in yourself and tools that improve your better life.

It’s easier to make this choice if you’ve been around the block or borrow wisdom from others who have.

Most time-taking experiences are documented in videos or photos, live-streamed real-time or close to, and you don’t have to get dressed up or take an allergy pill to go see. You can celebrate without the hoopla.

This applies to tastes too. If you have a hankering for something, when you eat a copycat that’s found nearby, then your mind-body is satisfied. The more you practice using your imagination, the easier it becomes to come up with new substitutes.

And if you turn on calming music, your entire mood and perspective change. It’s easy when you help yourself.

Another productive time saver is: after you’re settled into your day, then go and find a quiet room or space outdoors without music, distractions, or interruptions. Do this for an hour. A few minutes isn’t enough. And in peace, your perspective changes on what’s important. The strategic hour saves you hours. Sometimes we just need reminders.