Happy 2018 – Day 166 – If Time was Money…

A great question for procrastinators today: 

“If time was money, just how much do you waste?”

Let’s say that your time is worth £50 an hour. On any given day, just how much money do you just throw away? 

Maybe when you put it all together, you throw away 2 hours of time by doing the tasks that you like, rather than the ones that need action; watching TV; scrolling through social media; rearranging socks, or furniture; having to re-do things that you’ve already done, because you messed up the first time by not paying attention.

All things considered, I think this probably a vast underestimate. But as it is – if you’re worth £50 an hour and you waste 2 hours daily, that’s £700 each week lost, and £36,500 each year. After a decade that’s £365,000 gone.

I love this question, because it makes the vague loss of time to procrastination that little more real.

Whether you’re in a position whereby you are actually literally throwing away money (if you’re running a business for example); or whether this example simply illustrates the idea that you should treat time like money (if you wouldn’t waste money, you shouldn’t waste time either); it’s just a great question to ask.

Spending money wisely means that you’ll feel comfortable enough to pay for things that you want to do. Spending time wisely means that you might actually have the opportunity to do them.

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