Skip to content

Spend Less and Live More – What is Time and Money Management?

time management is money managementEveryone has heard the saying “time is money” at least once in their life. This is one of the primary principles behind an hourly wage after all. For most people their time literally is money. Therefore…time management is money management.

Don’t think you’re above this truth because you have a salary. One of the great myths about salaries is that they somehow operate outside time. Then why is 40 hour still a standard? Beyond that research shows most people with salaries actually work more not less!

Even if you have a way of life that avoids these standard work arrangements you cannot escape this truth.

Time Management is Money Management

Today’s timely post is written by Rocky of

Have you ever tracked the activities you undertake in a day?

I mean REALLY tracked them.

Imagine that every time you switch tasks you have to click a stopwatch and start tracking the time you spend on that activity.

There are apps that do this by the way. I started using one at the beginning of this year and the results were enlightening. This is where I learned the truth of time is money – that time management is money management.

I noticed that where I spent my time is either where I made money or where I spent money.

The most obvious case of this is work. Other than sleeping, I’d wager that this is where most people spend the majority of their time. Everything outside of that tends to be where we spend our money.

I want you to try to remember how you spent your time in the last week.

Let’s break these activities into three categories:

  1. Time Spent Money In
  2. Time Spent Money Out
  3. Time Spent Money Neutral

Most people will have only their day job in the first category. No judgement here. I doubt Jeff Bezos is running around trying to cultivate income streams outside of Amazon so don’t feel bad.

What about that second category though? I’ll wager that your second category has more entries than your first. What does this mean for our finances?

Money Follows Time

What did you come up with in your second category?

I’ll act as our guinea pig and demonstrate how my time translated into my spending:

  1. Eating – money for groceries, restaurants, or delivered food
  2. Driving – gas, car depreciation, and insurance
  3. Cell Phone Use – phone cost, service cost, and even electricity to charge it (nitpick much?)

I could go on, but I doubt most of you came here to read about my nerdy hobbies. My point is our time is our money. If we are more conscious about how we are spending our time we inherently become more conscious of how we spend our money. Again…time management is money management.

Commit your time as you would commit your dollars and you will find your spending aligning with your principles. This will bring you more enjoyment out of every dollar. That is unless you are spending a lot of your time doing something that you don’t like doing. In that case stop doing whatever that thing is.

The net result of this process is that we spend our time more consciously. Since time is money this means our wallets follow along. You may find yourself naturally moving some of your time from category 2 to category 3. Personally, I spend a decent amount of my time pursuing category 1 or at least I tell myself that I am.

How Convenient is Time?

Businesses long ago realized time is money and they used that discovery to make money off you. This is the entire premise the fast food industry was built on.

Why save money by buying your own groceries to cook when the golden arches are beckoning? They know that you will pay for the convenience of not having to spend the time finding a recipe, shopping, cooking, and cleaning up.

Time is not only money, it can be expensive.

A lot of the costs we pay can be traced this same way. We spend a lot of our money to save time and then spend that time spending money. We are spending out of both sides.

Forethought will save us a great deal of money. If we save money we have effectively saved time. The equation makes time equal to money so when we save money we are saving time.

Look at it this way. Since you’re here I imagine you follow Derek’s advice and know how to turn your money into more money. Whether you’re doing this through real estate, stocks, or the latest cryptocurrency is not really the point.

If you follow Derek’s advice you will retire earlier or with more money than your peers. In this way you have literally turned your money into time.

Your time.

This money will allow you to buy your freedom from working a job you hate. It buys you more time with your hobbies.

Time is money.

How are you spending yours? Will you start taking to heart the message, “Time management is money management”?

Battle of the Mind Money


My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.


  1. I am a volunteer Boy Scout leader. One of the merit badges Scouts must earn is called Personal Management. Scouts, and parents, immediately think about money management. The badge is a first introduction to Scouts about money, budgeting, saving, investing. But as the Scouts learn it’s also about time management as well. The badge has the Scouts track their time and they have to report back what they “spend” time wise. Both money management and time management go hand in hand. An important lesson.

    • That’s awesome! Sounds like my future son is getting signed up for Boy Scouts!! 🙂

Comments are closed for this article!

Related posts