Time is the most expensive currency we have. Spend it wisely!
It’s a currency that changes in value based on numerous factors.
It is the only currency that spends itself, that values itself as it moves through itself, and is always in balance when the account is closed.
Spending our time is often seen as the passive act of being in a place in time. Not the more accurate statement of spending time on a place or moment in time. The currency of our time is a bank account we can not make more deposits in. An account and we never know what the balance truly is. We therefore can’t value the currency of our time in an exact exchange rate, so we spend it based on it’s relative value. Sometimes frivolously, sometimes judicially. But almost always in some relative way. Would you spend your monetary currency in such an way?
This is why spending time as a currency is valuable to us as people and human beings. We should appreciate the real exchange rate of time. That is to say, the real cost of our time. The NPV of time should not be relative, it should be valued at the highest rate we can imagine and exchanged accordingly. How we invest that time in others should be an investment of our own ascribed value, not just the related value of what others invest in our time. How we come to the NPV of any interaction should be the directly result of our highest valuation at the time we spend our currency. We therefore provide others the measure of our currency value so they can value their currency in the same fashion.
Which brings us to the common phrase, “What a waste of time”. Wasting time is not really accurate. You were in the act of “Spending time”. You just revalued that time in time and decided it was a waste of time. The truth is, that at the time, you were simply spending time without a true appreciation of it’s exchange rate. You invested that time only to find that your spend was devalued at the time or in a related time. I would suggest that if we appreciated our time as the currency it is, we would be much more aware of our spend and exchange rates, resulting on a much higher return every day.
How does this apply to business you might ask? Meetings, interactions, and responding to the endless requests for and on your time. That is largely the effect of not having an accurate exchange rate. When time is relative, and in a working context, we have the famous phrase. “Time is money”. So, if time = money, what is the exchange rate? How can we have a work life balance when we spend our time at work at a lower rate then we spend our time on family? Do we set our exchange rate by action or explanation? Can we every really explain our value on time given it takes time to explain? Or should we just act in accordance to our own perception and exchange rate, letting others set the value of their own currency? I propose we set our value and let the market decide!
Spend your time wisely, and enjoy the moment.