One of my earlier post, I said that Time is Money, which proves that we need to invest to fight inflation. I attended a seminar where I learned about the relationship of money and time management. It suffices to say that when you have money, you can manage your time effectively.
In our discussion, there are 4 types of persons with respect to money and time management. These are people with:
No Money and No Time. Oh, these are the worst people I guess. These are people who don’t have time because they work and work for money but still end up broke and no money. They will be in the rat race forever. They won’t be able to escape it. They will work for the rest of their lives. They work hard, earn money, but uses the same money to spend. It’s like a prisoner in hell bound to work as slaves forever until they die.
No Money but with time. These are the people who are bound to work hard in order to sustain their living. People with time but no money will end up working for the rest of their lives unless they learn how to save money and manage their finances systematically. Time is the essence here since as time passes, we are getting older and as we get older, the more prone our body to health problems.
Money but No Time. These are hard working people. They devote the rest of their lives working working and even working hard. In effect, they really have money but they don’t have enough time for leisure, for their family and friends. All they know is to work hard for money. They don’t know how money works for them. All they know is active income and not passive income. Because of lack of financial education on investing, they will end up harrassed and burnt out from their work which, if not handled correctly, can even turn to various health problems or worst going to suicide because of the burden.
Money and Time. In contrast to the first, these are considered “wealthy” and financially freed. They can work whenever they want. They can wake up whatever time they want. They have enough assets that provide them passive income to sustain their living. They let their money work for them. And because of their financial education, they have managed to control their time according to their will. They can devote more of their time to the things that they enjoy.
So among these types of persons, which among them will you choose? I bet all of you will answer the last one, that is, a person with time and money. That is the very essence of financial freedom.
It’s your choice. Are you contented with your present state?