Time is money, a famous quote first promulgated by Benjamin Franklin, emphasizes that time is a valuable resource that must not be wasted. Many people, bearing this quote in mind, also get the mistaken notion that time can be saved, just like money.

A British professor even came up with an equation to prove that time is really money. The equation found expression in a mathematical formula to wit: 

V=(W((100-t)/100))/C

where V is the value of an hour, W is a person's hourly wage, t is the tax rate and C is the local cost of living. Using the equation, it was estimated that the average British minute is just over 15 cents to men while for women, a minute is worth 12 cents.

But can you really save time just like money? Time has always been fixed, and it comes gradually each day, unfolding as it should. If time is money, then it could be accummulated and spent whenever needed.

The reality is, you cannot save time. You can only manage and make full use of it as it comes along. Once time is lost, it is gone forever. Contrast that with money that can be replaced by producing more. Time is irreplaceable.

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This, therefore, means that time is much more valuable than money. Money can be generated, but time remains fixed.

This recognition should prompt everyone not to squander time. It must be used to the best way possible, for certain useful purposes.

So how can one make the best use of time? Here are some ways:

1. Figure out what you will do for the day. Having a good direction of what things you will need to achieve for the day makes full use of time. 

2. Make a list of what you have accomplished. Tracking the things you did will give you valuable insight on how you manage your time. It will help you identify unproductive time and do better next time.

3. Finish the easy tasks first before tackling the difficult ones. Once easy tasks are done you will gain a sense of accomplishment. This will encourage you to go on and avoid time consuming postponement of things that need to be done.

4. Make use of waiting time. Be creative in finding ways on how to make full use of your time even on those occasions where you have no choice but to wait. 

As I write this short article, I am awaiting my turn to transact with the bank's teller. I came in with queue no. 80, while the current number displayed on the screen is 68. After about 30 minutes of writing it will be my turn after two more customers. When my turn came, my article's done. I converted waiting time to money.

©2011 December 17 Patrick Regoniel Time is Money