We Talk About The Cost Of Money, What About The Cost Of Time?

[Opiate32]

One thing I’ve come to realize is that when we talk about the economy, we overlook how much money we indirectly lose through the time we waste. Think about someone who spends so many hours in traffic or have to visit several places before getting sometime that should have been easy to access. Nobody sends that person a bill for the time they’ve lost but the cost is still there.

A worker who spend hours working has little time to rest, learn new things or take on extra work. Even small delay can sometimes become expensive when they happen every time. We usually measure economic costs in dollars, wages and price but time is also a resources and once it is lost it cannot be recovered. I wonder how much more productive people and businesses could be if less of their time is spent while dealing with unnecessary delays.

Here’s is what I want to know;
How much does it affect your ability to earn or run a business and improve your standard of living?
Have you ever considered how much time you lose in a week just trying to get things done?

[sunsilk]

~snip~

I have experienced this, when commute is terrible and I have no car to ride on. I have to pay for the hours of travel without being compensated for that effort.

And that's why if someone is going to work far away from their home, make sure that you've got a convenient way to travel.

Here’s is what I want to know;
How much does it affect your ability to earn or run a business and improve your standard of living?

I think with patience you apply for that kind of problem, it's going to help you run a business and have that calm manner.

As for improving the standard of living, you're seeing both worlds of convenience and inconvenience.

Have you ever considered how much time you lose in a week just trying to get things done?

Yes and I feel pity about it, as if I have a choice I'll back out and will choose better opportunities.

[kingstep]

Here’s is what I want to know;
How much does it affect your ability to earn or run a business and improve your standard of living?
Have you ever considered how much time you lose in a week just trying to get things done?

Time is a constant as far as it usefulness is concerned. whether you spend it rightly or wrongly, it remains what it is and unfortunately, the limited time we have to use in doing things that actually matters, we end p spending it for the wrong reasons.

The worth of your time is far precious than most of us think it to be and those that knows this are very meticulous with their time only going to places that matters to them and using money as a tool to buying back time. Money helps you spend your time wise and gives you option as to what you should spend your time doing. with money, instead of doing the laundry, you ca pay someone else to spend his time doing the laundry which gives you the ability to spend your time doing other thing. everyone has the same time but the rich has greater advantage in controlling what they choose to do with their time.

[Italian Panic]

We must always start from the assumption that time is the most precious thing we have; no one will properly compensate us for the time we spend at work, and no one will give us back the time we spend at work instead of being with our children.
A second job is a situation where you often end up giving even more of your time, taking it away from family and friends, but I realise that many people have no alternative.
I come from a time when a second job made sense and enabled people to buy houses and property; in recent years, however, a second job has become a situation that serves little purpose. It makes much more sense to try to learn new things and put them to good use, whether for financial gain or out of passion, without feeling compelled to do so.

[Ziskinberg]

We have our very own way of living our lives, some would prefer to work some would prefer to do business, both have pressure and bring stress actually. However for me, I find business is a good way as I can pass it on to my children, however there are times I feel it's stressful already as I'm always challenged with solving problems to improve it, that results in forgetting how to manage my time properly.

Sometimes I wonder if a simple life is actually better as there's this one employee of mine, who is not earning much but he lives a simple life, and has enough family time.

So it's our choice on how to manage our finances, and to be happy we need to be satisfied with how much we are making.

[Bityar]

We doesn’t give value what comes to us for free. Time is constant and is blessing recieved for free and will flows effortlessly thats why we doesn’t give it its real importance and also doesn’t appreciate real value and importance as compared to actual money. When we waste out time in traffic jams or daily inefficiencies so we donot receive any invoice and we donot feel the loss or the loss feels invisible. Time is non renewable once it is waste then no amount of money can buy it back. So if we pass that time carefully and with respect and manage it in the same way that we spent money so our quality and productivity of life will be transformed. So spend your money and time wisely.

[The Cryptovator]

One thing I’ve come to realize is that when we talk about the economy, we overlook how much money we indirectly lose through the time we waste. Think about someone who spends so many hours in traffic or have to visit several places before getting sometime that should have been easy to access. Nobody sends that person a bill for the time they’ve lost but the cost is still there.

Here’s is what I want to know;
How much does it affect your ability to earn or run a business and improve your standard of living?
Have you ever considered how much time you lose in a week just trying to get things done?

We convert time into money. We often calculate working hours and calculate salary based on that time. So losing time means losing money, especially if we lost working time. Definitely that affect directly to the economy. Based on our country, we have been losing a lot of time in traffic jams. So before we attend to the office or business, we have to be aware not to lose working hours, at least.

I have seen news sometimes about how many times we are losing in our country. Although we can’t recover this loss, we are trying to reduce loss in various ways. For example, if I need to attend somewhere at 10AM, then I leave home an hour before; even I would need 30 minutes to reach there. So at least I am not losing working time, although 30 minutes lost from my life has a cost as well. That’s how we have been maintaining times.

[Dr.Bitcoin_Strange]

@OP, I feel you are driving at something that you have not really established so well. Yes, I believe that time is precious because it is one of the few things in life that once lost, can not be recovered, for example, yesterday was 1st Nov, 2026 and it's gone forever, what you failed to do with your free time yesterday, you will use the free time of another day to do it. You can not repeat yesterday to make use of the free time you wasted back there, and like Benjamin Franklin would say, "time is money".  From what you are saying, do you expect to get paid when you don't use your time to offer a service of value?

Everyone is entitled to what they choose to do with their time, if you decide to stay at home all day from month to month doing nothing, you will also get nothing in return, if you are working 4 hours a day for a company, you get paid for the hours you work for them. We talk about money, money, money, but how do you make the money when you don't exchange your time for it? Do someone pays you for the time you spend on the road going from your house to your place of work?

Think about someone who spends so many hours in traffic or have to visit several places before getting sometime that should have been easy to access. Nobody sends that person a bill for the time they’ve lost but the cost is still there.

Who is supposed to send the person a bill for the time spent on traffic?
Well, there are some companies you will work with, apart from your basic salary, they could also pay you some allowances, like transportation allowance, you can use it to compensate yourself.

Here’s is what I want to know;
How much does it affect your ability to earn or run a business and improve your standard of living?
Have you ever considered how much time you lose in a week just trying to get things done?

You could lose time for good cause. For example, I went to pitch our product to one client last week, we booked an appointment but unfortunately he had an emergency and I spent some hours waiting for him to be done. After which, we spoke and concluded on a deal. I wasted some time there, yea, but I got what I went for.

[Russlenat]

we all have equal 24 hours a day, take 8 hours of that for your sleep. The remaining 16 hours are for your work and your family or for yourself. So if you waste your time you will delay your own development. I also experienced that when I was still working, it's not that I was wasting time but I didn't have a choice as I had to commute one hour going to work in the morning, needed to wake up early to commute and then going home it took 3 hours due to traffic, imagine for commuting alone that's already 4 hours plus 8 hours of work, I was just left with a few hours for my family.

now, I'm lucky that my work is online, I stay home, I'm able to save time and manage my time well. So it's really up to us, because we are the ones who decide how to live our lives, don't think that we have no choice sometimes we need to take risks.

[Webetcoins]

This is something I have endured a lot. Because if I had some time, and I mean like if I had enough money to "not work" for even just 6 months to a year, I know that I could change my entire life. I know that I could literally become someone who could survive forever because I could start earning money myself. It is not a "could I?" situation for me; I know I can.

But I always have needs; even when I lose my job, I sell stuff to survive, I can't take even a single month's break; it ends up being terrible. So that is why I end up with results that are not easy. If only I had like 10k or whatever, I could have stopped working altogether for others, and could do my business, and I would live with ease without much trouble. All I need is time, actually not money, but I do not have time, because I offer my time basically to keep on surviving.

[aoluain]

One thing I’ve come to realize is that when we talk about the economy, we overlook how much money we indirectly lose through the time we waste. Think about someone who spends so many hours in traffic or have to visit several places before getting sometime that should have been easy to access. Nobody sends that person a bill for the time they’ve lost but the cost is still there.

A worker who spend hours working has little time to rest, learn new things or take on extra work. Even small delay can sometimes become expensive when they happen every time. We usually measure economic costs in dollars, wages and price but time is also a resources and once it is lost it cannot be recovered. I wonder how much more productive people and businesses could be if less of their time is spent while dealing with unnecessary delays.

Here’s is what I want to know;
How much does it affect your ability to earn or run a business and improve your standard of living?
Have you ever considered how much time you lose in a week just trying to get things done?

In my country the vast majority of workers do not get paid for their commute to and from work,
the exception is Sales representitives and company executives.

There are workers in my country spending upwards and beyond 4 hours per day commuting to and
from their workplace. That is such a waste of time

The system in general is stacked against the general worker.

They go to college and pay massive fees to get a qualification
to get a good job with good pay
so that they become in debt for a car and house
so they have to keep working to service that debt
its basically enslavement

Your commute to work is your own expense, but most people only factor in the monetary cost and
overlook the cost in time.

The trick is to remove yourself from the system of work to service debt so you can have more options
like working closer to home for less pay for example

[hmbdofficial]

This is true, I think that wasted time has a bigger impact on people’s financial life than we sometimes realize. Like take for example, someone who spends approximately 4-5hours in a traffic everyday loses time that could have been actually used to learn new skills, or do other profitable businesses. And this kind of loses might not be realized quickly and might not even appear I any financial statement, but this can actually affect persons income and productivity over time.

True time is that asset that cannot be recovered once it’s gone, that’s why sometimes they said improving our standards of living isn’t just about doubling our income but also reducing the time it takes to get things done.

[tsaroz]

Time and health are as important as money. They all are interconnected and everyone are always trying to achieve a balance between them.
But what we should also know is they are not always equally proportional, spending more time working, doing two jobs might give you higher payout in terms of money but they might be costing you your physical and mental. Furthermore, you could use the money you earn to automate your work or get more of your earning through passive income which would increase both your money and your spare time. Physical and mental health may or may not depend on what your earn and how much time you spend on what thing but it would absolutely affect your life and economy.

[Lida93]

Apparently, one of the reasons people get paid after rendering a service or doing a job isn't only about their expertise or skill but also about the time they put in to get the job done, that's why an expert in a particular field can be put on standby and yet get paid even without lifting any tool.

n the oil and gas industry, there are certain experts who are often required to be on standby incase of certain emergencies offshore, they usually don't do anything except when such emergencies occur, but as long as they are there, their wages are being paid based on the agreement with contractors. Time is essential and a very valuable factor which is highly appreciated only by those who understand it's importance.

[Oasisman]

Here’s is what I want to know;
How much does it affect your ability to earn or run a business and improve your standard of living?
Have you ever considered how much time you lose in a week just trying to get things done?

Waste of time has lesser effect on me now that I'm working remotely at home.
The most common scenario where a person losses time and considered it wasted, happens during and after work from the office or wherever the working site is located. Maybe the most tolerable timeframe for a travel from home to work and vice versa should be around 10-15 mins, so that means 30mins a day tops. This is the reason why a lot of people choose to rent apartments nearby their working sites, because they realize time is precious than what they earn from their job.
People who come and leave at work and spend more than an hour of travel time losses a lot of time, and that means they're either lossing money or something more precious not in a form of money.

[iDEEMEE]

This is one crucial topic, time is a constant and everybody is given the same but I believe majority lose a lot of time that will never be compensated.

Imagine a husband/father who has to go to work Monday to Saturday 9-5, but must leave home at early hours in other to beat traffic and get to work on time and will also get home late at night probably 8/9pm. This father has been doing this for years in other to provide for his family but at the cost of not having meaningful relationship with his wife and children. Often times this leads to divorce and estrangement from loved ones.

Time lost can never be recovered, it’s imperative that every human think of ways they can gain more than they lose with time, source for jobs, build yourself and business, get skills that allows you time freedom.
It is important that while in the pursuit of wealth freedom, time freedom must not be neglected.

[maydna]

That is the risk that we should pay. We should manage our time so we can fills all things without delay. A worker or businessman have a schedule for daily works so they will not spend time dealing unnecessary delays. Maybe it affect to us but if we can manage time well, the affect will not be too big and we don't get a problem. The thing is how we manage time to our daily works, we can't count the cost of time even we convert it into money because no exact math to count the cost of time.

[Fortify]

One thing I’ve come to realize is that when we talk about the economy, we overlook how much money we indirectly lose through the time we waste. Think about someone who spends so many hours in traffic or have to visit several places before getting sometime that should have been easy to access. Nobody sends that person a bill for the time they’ve lost but the cost is still there.

A worker who spend hours working has little time to rest, learn new things or take on extra work. Even small delay can sometimes become expensive when they happen every time. We usually measure economic costs in dollars, wages and price but time is also a resources and once it is lost it cannot be recovered. I wonder how much more productive people and businesses could be if less of their time is spent while dealing with unnecessary delays.

Here’s is what I want to know;
How much does it affect your ability to earn or run a business and improve your standard of living?
Have you ever considered how much time you lose in a week just trying to get things done?

Most people factor these things into their determination on whether they will accept a job or not - you make it sound like a surprise? Unless the company moves location then people will know where their workplace will be - whether it's 5 minutes away or 1 hour. They calculate if the salary is worth the hassle. Some people might accept an extra 10 hours travel time a week if it's for a 150k wage. Your second paragraph doesn't make much sense though, it's the basic concept of work - you're exchanging your time + skills for money. Any decent company will support some level of training so you can upskill but if you want to rest or engage in leisure then you have to do it in your free time. If you have no work and no money, your standard of living will likely be much worse.

[Japinat]

That is the risk that we should pay. We should manage our time so we can fills all things without delay. A worker or businessman have a schedule for daily works so they will not spend time dealing unnecessary delays. Maybe it affect to us but if we can manage time well, the affect will not be too big and we don't get a problem. The thing is how we manage time to our daily works, we can't count the cost of time even we convert it into money because no exact math to count the cost of time.

There are those who are good at managing their time and there are those who are not. It's one of the reasons why we don't have equal financial status in life because we have different goals. However, the working class are really the ones who struggle here since they need to drive or commute. Like in our country, where traffic is a major problem, for a 10km drive, sometimes it takes 1 hour to reach the destination, so even if we manage our time well but if the government is not resolving this long time problem and it's getting worse, we are still affected.

Time is really the most important thing in life since we cannot go back in time, and it's not just about working or making money, but enjoying life as well. Like doing your dreams in life, traveling with your family, spending some quality time as when you grow old even if you want to but your body cannot cooperate, your money will be useless.

[decodx]

Have you ever considered how much time you lose in a week just trying to get things done?

You bet I have! In fact, I'll spend an hour or more per week idly sitting in dead-stop traffic, or standing in line at some government office whose operating hours appear designed specifically to avoid the few hours a day when I am actually working...

That being said, the harder we push against things that are out-of-our-control, the less productive our lives become. As one ages, this becomes apparent to most folks. You can't (and shouldn't) spend your life fretting over things which you simply cannot change. Instead, you have to adapt... and find ways to make use of the otherwise idle time.

In my case, technology has made possible lots of interesting stuff. For example, if you're stuck in trafic, listen to a good audio book OR catch-up-on-emails while sitting idle somewhere. It's not perfect, but better than nothing, right?