Time is not money - Deepstash

deepstash

Beta

Get an account to save ideas & make your own & organize them how you wish.

deepstash

Beta

Time Is NOT Money | We Need To Change Our Thinking | Time > Money

Time is not money

Time is not money

Even if these two share some connections, time isn't money. Time is energy, money is a thing. And they each have power over our lives.

Money is infinite but time is not. You can always get a part-time job or start a side gig, but you’ll never be able to get back this moment or this day. Equating the two I think diminishes the value of time in a way.

316 SAVES


This is a professional note extracted from an online article.

Read more efficiently

Save what inspires you

Remember anything

IDEA EXTRACTED FROM:

Time Is NOT Money | We Need To Change Our Thinking | Time > Money

Time Is NOT Money | We Need To Change Our Thinking | Time > Money

https://millennialmoney.com/time-is-not-money/

millennialmoney.com

5

Key Ideas

Time is not money

Even if these two share some connections, time isn't money. Time is energy, money is a thing. And they each have power over our lives.

Money is infinite but time is not. You can always get a part-time job or start a side gig, but you’ll never be able to get back this moment or this day. Equating the two I think diminishes the value of time in a way.

Disrupting the time-money relationship

Investing and passive income disrupt the time-money relationship.

To make money without having to trade any of your time frees up your time to ultimately do things that are more important to you.

The best investing strategy

  • Make as much money as you can
  • Keep your expenses low
  • Invest the difference
  • The more you invest, the faster your money will compound and bring you more money
  • Sit back and earn money with no effort. You are no longer trading your time for money.

When we believe that time is money

Our work culture promotes the ideas that time is money.

And we end up managing our money poorly so we end up wasting our time. We also trade more of our time to make more money, but if we would use that time to do things that make us happier, we would live happier lives.

Passion is money

The challenge is how do you make money and use the money to live a life that you love.

Maybe this translates into moving from full time to part-time job or moving to a different city, and in a less stressful job.

SIMILAR ARTICLES & IDEAS:

Reasons you’re on your phone
Reasons you’re on your phone

Our phones, especially social media apps, may drain our time and energy. Scrolling often starts when you're responding to a message, reading an article, or looking at a few pictures. Then, four...

Consider posting less

If you find yourself posting a lot, ask what specifically you're seeking and if there are other ways that would leave you feeling better.

It's worthwhile to consider what you are posting to the world. Posting stories, tweeting, and messaging lead to back-and-forth responses that glues you to your feeds.

Use your phone for its main purpose: calling people

Even if you love a good text conversation, it might mean that you are more online than you otherwise might be.

One solution is to treat your phone like a phone. If you feel uncomfortable phoning, consider informing your friends that you will start calling more often, so they don't assume the worst when they hear your voice.

4 more ideas

Learned Optimism in Psychology
Learned Optimism in Psychology

This is a concept that suggests that we can always change our attitude and behaviour, be aware of our thoughts and stop our negative self-talk.

Learned Optimism is a positi...

Pessimism Vs Optimism

Pessimism is defined as the anticipation of good or bad things to happen in the future, while optimism is generally considered the opposite. Optimism can be defined as the individual difference variable reflecting the extent of which we hold positive expectancies for the upcoming event.

The ways in which we think affects our health, well-being and success, even though the situations are the same.

Benefits of Optimism
  • A positive impact on many aspects of physical and mental health.
  • Provides motivation to work harder.
  • Greater career success in life.

6 more ideas

Choose your field of activity wisely

Nowadays people are mostly driven by the idea of making a lot of money in as short of time as possible.

However, one thing everybody should take into account is that unless you are really ...

The key to success

There is no such thing as the key to success.

However, being ambitious, lucky and persistent can really work. While nothing guarantees success, finding what you like and trying to become good at it are definitely important steps in that direction.

Focus on your own goals

There is a certain temptation we all feel when it comes to other people's success: check out exactly how they made it u to this level.

Nevertheless, this is not really the appropriate approach, as each individual has its own path in life: so better focus on your goal and how you plan to achieve it.

You can’t figure out the future
You can’t figure out the future

Life doesn’t really go according to plan; yes, some people will do exactly what they set out to do, but you never know if you’re one of those.

So if you can’t control the future, focus o...

Getting comfortable with discomfort

The best things in life will most likely be hard, and if you spend your life avoiding discomfort, you’ll miss out.

One of the most important skills you can develop is being okay with a degree of discomfort. If you get good at this, you can do anything.

Thriving in uncertainty

If you can accept uncertainty, you’ll be open to many more opportunities.

If you’re afraid of uncertainty, you’ll skip starting a business, for example. You can’t really know for sure how things will turn out, and so if you have this need to control the outcome, you’ll avoid great opportunities.

3 more ideas

Time Debt
Time Debt

The choices we make to ‘borrow’ our personal time to get work done works against us in the long run, just like the money borrowed from a credit card has to be paid back with interest in the future....

Track Your Time

You need to find out just where your time is going currently. You can use a pen and paper, a spreadsheet, or an app to visualize where you spend most of the hours in your day.

Create A Time-Blocking Template
  • Block your time for specific types of work, not individual tasks.
  • Block your time for core work like coding, designing or writing, for shallow work like daily tasks and maintenance, for meetings and emails, and fill it with frequent breaks to replenish yourself.
  • Give yourself space between blocks so that you can decompress and keep your energy levels high.

9 more ideas

Three different sides of risk
  • The odds you will get hit.
  • The average consequences of getting hit.
  • The tail-end consequences of getting hit.

The first two are...

The tail-end consequences

The tail-end consequences of an action or event (those with low-probability, high-impact) are all that matter.

In investing, the average consequences of risk make up most of the daily news headlines. But the tail-end consequences of risk (for example, pandemics and depressions) are what make the pages of history books.

Next Level Money
Next Level Money

Our desire to achieve next-level money or to master, control and optimize it, can only be fulfilled by us, and it goes beyond just earning, saving and investing money.

...

Automation Of Money

Automation of money will lead to a ‘coasting’ life, but it won’t get one to the next level. While we already know that the goal is to make money work for us, instead of slogging ourselves for earning it, it is not enough to simply save and let the money grow in banks.

One has to be aware of the pitfalls of wastage of money, be able to shun mindless consumerism, and embrace minimalism to move towards that level.

Pushing The Boundaries Of Security and Comfort

One cannot be complacent and run after security and comfort. Longing for a default, peaceful life of status quo will not put one on the track of next-level money.

One has to get to work, piercing the comfort zone bubble and the man-made boundaries that are around us.

3 more ideas

Making A Crisis Out Of Everything
Making A Crisis Out Of Everything

Our diminishing resilience and decreasing psychological threshold of handling pain and struggle is, in turn, making everything look like a crisis.

We are making a catastrophe out of eve...

Psychological Resilience

Psychological resilience is not about fake positivity and takes its power from our negative feelings. It makes our anger, sadness, failure and self-loathing into something useful and productive.

When we become sufficiently resilient, we are unstoppable and limitless.

Care For Someone Else

Our focus on the self has made us fearful and overwhelmed, especially in times of crisis. Part of our anxiety is the constant focus on oneself. Even if we do focus on others, it is only to judge them about how they feel about us, and what they think about us.

If instead of our inner selfishness, we find a greater cause to endure the crisis or risk, some deeper purpose or mission that eclipses our ego, then the crisis is taken care of.

4 more ideas

The psychology behind money
The psychology behind money

Money is not a fixed entity. It is a complex of data points, challenges, and opportunities you encounter and have feelings about. Your decisions about money affect your emotions and behavio...

Emotion and money

The most important emotions about money to become aware of are fear, guilt, and shame. Without awareness, these emotions will interfere with your rational thinking.

  • Common fears include fear of having too little money, fear of looking foolish, fear of causing envy.
  • Guilt is about feeling bad about a negative impact you've had on others. You may feel guilty because you have more than your friends, or are not charitable.
  • Shame is feeling troubled when you don't live up to your own values. Shame related to money involves feelings of not having enough money, avoiding thinking about finances, avoiding doing what you're supposed to do with your finances, feeling ignorant, and overspending.

Other emotions that influence your handling of money include envy, greed, and over-excitement.

How mental health influences your finances

Mental health problems can have a significant effect on your finances.

  • Excessive use of alcohol leads to poor judgment and inattentiveness to finances.
  • Depression can cause a loss of employment. People with depression also lack energy and a sense of purpose.
  • People with a mild expression of bipolar disorder can experience states with increased energy, decreased inhibitions, exciting plans, and are overstimulated to spend.
  • Adults with ADHD/ADD have the ability to pay intense attention to tasks that really interest them while screening out the tedious or mundane.

2 more ideas