Time and Money
Time is more elusive than money. Treat this statement like the ultimate truth. Earning money is easier than “earning” time. Getting money from someone1 is easier than getting their time.
Life is all about investments and returns. Good investments yield better returns. Bad investments yield good lessons. Yes – both are necessary in life. But you can (and should) avoid bad investments by learning from the bad investments of others. Ability to learn from the mistakes of others is a very important trait to “live more” in life.
Coming back to investing, you can only invest what you have in abundance. When you are young, you will (feel that you) have more time than money – obviously because you’ll be dependent on us for money. So, it only makes sense to make good investments in time.
When young, invest your time in learning skills and upgrading them. You’ll depend on these very skills to provide you with money when you cannot afford to invest as much time in the future. Learn as many skills as possible, be adept in some of them, master a few, and become an expert in at least one. And remember, learning is a continuous, life-long process.
On the flip side, early in life, be very stringent in your buying habits. It is okay to compromise on quality of things (whenever possible). Showing off will get you nothing but false fame and disloyal friendships. Be simple. Buy only things you need and fix things that break instead of replacing them.
Much later in life, when you take on more responsibilities, you will (feel that you) have more money than time. Time becomes dearer than money. Then, it becomes important to shift your focus of investing. Be stringent in the activities you spend your time on. Be choosy with whom you spend your time with.
This also means that you’ll have less time to fix things that break – so buy quality stuff that last long. Buy clothes that make a good impression on people you meet, because you may not have enough time to repair a bad first impression.
As with any investment you’ll have to accept that some end up in losses. Learn the lessons that it brings and move on. Don’t waste time about lost money. Because, you know – Time is more elusive than money.
1 Someone who understands the value of their time and money.