Money vs. Time: Which is the Most Important?

Legacy Planning
Money vs. Time: Which is the Most Important? | Student FinTech

As you plan for your graduating senior’s college career and future working life, or if you are a high school student who’s planning to go to college soon, it’s wise to think about the larger issues of life that you will face in your everyday world: money vs. time.

One of these issues is how you will spend your money and how you will spend your time. In fact it could be said that money and time are at the heart of everything we do. It is impossible to plan, accomplish, or do anything without thinking about one of these elements.

So which is most important: money or time? Peter Voogd, the well-known entrepreneur who wrote the book, Six Months to Six Figures, talk to young entrepreneurs about how to turn a small amount of money into a large amount of money in a short time.

There’s no “get rich quick scheme that works” as he explained in his books. But, without going into a lot of detail from the book, what he basically concludes at the end is that they are both important but time is more important than money because you can always get more money but you can never get more time.

The time that you spend in your life getting, doing, or obtaining things, making friends or wasting time, can never be back brought back into your life.

So it is the wise person who uses their time wisely at all times. Does this mean you always have to be working 24/7 with no time to relax or enjoy a cup of coffee with a friend or just bum out on the beach? No, of course not but you should choose that time that you do that based on the amount of time you can spare for recreation and what your priorities are.

If your priorities are to have time for the beach, you will make time for it. The truth of the matter is we make time for the things that are the most important to us whether we know it or not.

This may be a subconscious psychological thing that started in childhood or it may be something that we’re not even aware of, but making a daily, weekly, monthly, or annual schedule is a good way to organize how you spend your time. Like money, time can be wasted, spent productively, or used wisely, so that it can create more opportunities for wealth and more fun in life for you.

Make your own decisions and then abide by the consequences. You need time to make money but no amount of money will give you more time. -Peter Voogd