Time And Money : Understanding The Relationship

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Time And Money

Just like currency, time is a medium of exchange. The combination of all the money made, is largely based on the amount of value you can produce per the time you have and the worth of such value. this is the major connection between your Time And Money.

In essence, the reason you earn a monthly salary is because you are being paid for your time. Also, if you have a business that offers a service, the amount you are paid should be worth the time spent doing it as well as your proficiency level. The money received per hour increases as you spend more time sharpening skills and offering value; that’s how you get richer. There are, of course, other factors like your relationship network that could speed things up or slow things down for you.

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It is easy to not see the value of time because it is not tangible, but an understanding of its worth would leave us as better earners if applied correctly and it also helps us understand this often overlooked connection between Time And Money.

The first thing you should know about time and money is that while money is an unlimited resource, time is a limited resource. No matter how much money you can possibly make, it is limited by the amount of time you can devote to making it as well as the amount of time you have on earth generally. While you can easily get more money, you can’t get more time.

True Value Of Time And Money

Next, as already stated, time is a currency that is exchanged for money and vice versa. In essence, there is a monetary value that is placed on every single second you spend working. Want to know how much value is placed on time spent on your job or your price per hour? Divide your monthly income by the amount of hours/minutes spent on the job monthly. This exercise would attach a monetary value to your time and prevent you from wasting time unduly.

Time And Money
Close up of time and money with green bokeh background Business Finance and Money Concept

Read More – Things To Put In Place Before Spending Money On Your Business

To maximize your time and increase your earning potential, it is important to spend time developing skills that can produce money instead of going after money itself. This is a typical case of sharpening the axe before cutting the tree even if it would take more time. This is what separates the people who work hard and those who work smart.

Employ hese time saving methods to speed up your work and optimize your time by getting proficient at your skills and money would attract your productivity in no time.

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