- We can spend it but we can never earn it.
- Once spent, time is irretrievably gone!
- You cannot buy it from someone else
- You cannot exchange it with someone else to add it to your own life.
- 1 year is 365x24 = 8760 hours so if you live to 75 years you have 75x365x24 = 657,000 hours to live out. Sounds like a lot, but soon passes.
- The most precious thing one can give anybody is one's time!
- Prisoners 'do time', they have their time taken away from them. They are not able to do what they want when they want, they are not able to go anywhere any time.
- Employees have to work within someone else's time requirements. They are not free to work the way that best suits them. They have to adapt their work patterns to suit the requirements layed down by their employer. For this exchange of their time the worker is paid. This money is used for basic living expenses and any surplus is used for entertainment or to help others.
- It is said that 'Time is money', the more money one has the better we are able to control our time
- Travel costs money, the more money one spends the less time one takes to travel - e.g. Concorde (sadly no longer!)
- If one has sufficient funds one can control the time we spend doing anything
- lack of money means spending more time trying to earn enough for the basics of life
- a wealthy person can pay for others to do anything for them e.g. car maintenance
- a poorer person has to do everything themselves e.g. car maintenance
- A wealthy person can change their diaries to suit their own wishes
- a poorer person must attend the work place however they feel - except illness.
- Most people are not trained for retirement, they work all their lives and then from one day to the next they stop work. When they do so, some have sufficient funds to live comfortably but many do not. After a month or two of being retired they have exhausted all the things they would have liked to do and did not have time to do when they were working. Many in retirement die prematurely, they have nothing to live for.
- A typical day:
- We spend perhaps 10 hours a day concerned with the business of work - 40%
e.g. - Getting up early enough to go to work
- Lunch when the employer stipulates we can have lunch
- Travelling to and from work
- This leaves us with around 6 hours per day to do what we want! - 25%
- Week ends allow us to recuperate from the week
- The monetary value of 1 hour at work is approximately equivalent to a yearly salary divided by 2000.
You can calculate how much work time you need to do when you buy something.
If you earn £25,000 per year then 1 hour of your work time is worth approximately £12.50.
So it is worth paying people to do the jobs you could do, but do not have the time for, because you will never get that time back.
The constraints are expertise, and expense.
How much does it cost to buy someone's time to do a job?
If you earn enough that you have spare money at the end of the month you can either pay someone to do the jobs that you would have done,
then use the time saved to make more money than you are spending with them or you can do the job yourself.
- We spend money on work - travelling to and from work, by car, by bus, by bicycle etc... also suits, dresses, shirts, ties, shoes etc... to suit the required dress code for the company we work for. This expense would be different if we were not going to work, perhaps not as high?
- We spend money and time socialising within the work context. We would spend money socialising anyway, but this would be entirely our choice and not dictated by the constraints of 'getting on' at work.