Ever wonder or truly give deep thought to what the difference is between time and money?
In simplistic terms the difference between time and money lies in their nature, value, and how they are managed:
- Nature:
- Money is a tangible resource that can be earned, saved, spent, or invested. It is created and circulated within an economic system.
- Time is intangible, a constant and finite resource that cannot be created, saved, or increased. Everyone has the same 24 hours in a day.
- Recoverability:
- Money can be lost and regained through work, investments, or other means.
- Time, once spent, is gone forever. It cannot be recovered, bought, or replenished.
- Value Perception:
- Money’s value is relative and can be measured in terms of purchasing power or wealth accumulation.
- Time’s value depends on how it is used, making it subjective. Spending time meaningfully or wastefully determines its worth.
- Control:
- Money can often be controlled through budgeting, earning, and financial decisions.
- Time is uncontrollable it moves at the same rate for everyone and cannot be paused or altered.
- Interchangeability:
- Money can often be exchanged for goods, services, or experiences.
- Time can be used to earn money or spend on experiences, but it cannot be exchanged for more of itself.
In essence, while money is a flexible resource you can accumulate and spend, time is an invaluable, non-renewable resource that shapes how you live and what you accomplish.
- Money is finite but measurable. You can track it, save it, and plan how to use it. It’s something you actively manage and control within the boundaries of your financial situation.
- Time, on the other hand, is uncertain and unquantifiable. While we know we have a limited amount of time, we don’t know exactly how much we have left. This unpredictability adds urgency and significance to how we choose to spend it.
This distinction underscores why time is often considered more precious than money because while you can always find ways to earn more money, you can never earn more time. Life’s uncertainty makes every moment valuable.
As I sat at my dining room table one quiet January morning, sipping coffee and writing down my 2025 goals. Personal, Professional, Community, and Financial, my mind kept drifting back to a conversation from the night before. It seemed like a simple moment at first, but as I reflected more, it became clear that it was a turning point in my journey to understand the true value of time.
At dinner, my husband, Mark, and our daughter, Lexi, were practicing their Spanish. Lexi, in seventh grade, had recently learned how to tell time in Spanish, and we were discussing the basics:
“How many seconds in a minute?” Mark asked.
“Sixty,” Lexi answered, immediately translating to Spanish.
“How many minutes in an hour?”
“Sixty,” she replied with the same confidence.
“How many hours in a day?” Mark asked, prompting a more thoughtful response.
“Sixty,” Lexi said. Immediately, we all burst into laughter at the mistake. Mark, with a grin, said, “If there were 60 hours in a day, Mom would work 50 of them.”
At first, we all chuckled. But then it hit me: the joke wasn’t funny anymore. It was a reflection of a life I had been living for years. One where I worked tirelessly, always chasing the next milestone, without stopping to consider how I was spending the one resource that truly matters: TIME.
The sudden loss of my 8 year old son, Cole, in 2023 made me see this truth more clearly than ever before. For most of my life, I had been obsessed with productivity and career success. From balancing high school sports and a part-time job at UPS to playing soccer in college while working two jobs, and then climbing the corporate ladder, my time had always been consumed by one thing: work.
But the death of my son changed my entire perspective on time. No amount of success, no promotion, no paycheck could replace the precious moments I’d missed with him and with the people who are still here.
The Difference Between Time and Money
As I sat there writing my 2025 goals, I found myself reflecting on the difference between time and money.
- Money is tangible and controllable. You can earn it, save it, spend it, or invest it. If you lose money, you can often get it back through hard work, savings, or smart investments. It’s a resource that is finite, but you can manage how you accumulate and use it.
- Time, however, is entirely different. It’s uncontrollable, fleeting, and once it’s gone, it’s gone forever. You can’t save it for later, you can’t earn more of it, and you can’t buy it back. Time is the one resource that cannot be replenished or replaced, and yet, so often, we treat it as if we have an endless supply.
Living to Work vs. Working to Live
For most of my adult life, I was living to work. I worked hard to climb the corporate ladder, took on extra responsibilities, and sacrificed time with my family in the process. I used every minute of my day to be productive, to build something for the future, something that I thought would make my life better and create more success. But as I’ve learned, all the success in the world can’t fill the void left by time lost with the ones you love.
After Cole’s passing, I started asking myself: Could I have done more? Could I have spent more time with him and my family? Had I been so focused on work that I missed out on what truly matters?
That conversation with Mark and Lexi the joke about 60 hours in a day, was a wake-up call. If there were more hours in a day, would I have worked more? Or would I have spent those extra hours with my family, making memories, enjoying life? The truth is, I wouldn’t want to work more. I would want to live more.
A New Vision for My Goals
As I wrote down my goals for 2025, I realized I needed to redefine what I truly want in life. I’ve spent so much time focusing on money, success, and accomplishments, but now, I want to focus on living fully and intentionally. Here’s how I’m rethinking my goals in light of this new perspective:
Personal Goals:
- Prioritize family time. I will make sure that the moments I spend with my husband and children are cherished and meaningful. I’ll put down my phone, step away from work, and be fully present with them.
- Invest in my health and well-being. I’ll dedicate time to activities that nourish my body and mind, whether that’s exercising, reading, or simply taking quiet moments for myself.
- Cultivate joy and mindfulness. I want to focus on being present in each moment, finding joy in the small things, and savoring the life I have, rather than always striving for more.
Professional Goals:
- Lead with balance. I will continue to pursue success in my career, but I will no longer sacrifice my personal time for professional gain. I will set boundaries, prioritize what’s truly important, and delegate when necessary.
- Foster a healthy work-life balance for my team. I want to ensure that the people I lead are not only productive but also happy and fulfilled in their personal lives.
Community Goals:
- Give back my time, not just my money. I’ll volunteer more, engage in meaningful community service, and contribute my time to causes that matter to me. I want to make a real difference in the lives of others.
- Be present in my community. Whether it’s at school events, neighborhood gatherings, or local initiatives, I will take the time to connect with others, offering support, kindness, and a helping hand where I can.
Financial Goals:
- Continue to build financial security, but not at the cost of my time or personal well-being. I will strive to balance earning with living, ensuring that I am financially stable while also enjoying life and the people I care about.
Time Is Priceless
In the past, I used to measure success by how much I could accumulate whether that was money, promotions, or achievements. But I’ve learned that success isn’t about what you accumulate. It’s about how you spend the precious time you’re given.
Time is the most valuable resource we have. It’s the one thing we can never get back. And while money can be earned, saved, or invested, time is a currency that, once spent, cannot be replenished.
In memory of my son, Cole, I am dedicating myself to living a life that prioritizes time over money. I will no longer live to work; I will work to live. My goals for 2025 and beyond are about making time for what truly matters: family, love, joy, and the meaningful connections that make life worth living.
I encourage you to reflect on your own life: Are you spending your time wisely? Are you investing in the moments and relationships that matter most? Remember, time is the one thing we can never get back. Spend it wisely.