As a business major in undergraduate school, I took my share of accounting and economics courses. As a naval officer, I set the “prices” for things we sold in the ship’s retail store. When determining the “cost” of something, I usually considered how much MONEY was required for us to purchase it. In other words, I considered the real price that it cost us to purchase the item.
Time is Money, They Say!
When starting my career in human resources, I was exposed to the concept of time management. I learned that time can be more valuable than money. Time management experts emphasized that we get 24 hours per day and 168 hours per week. They also emphasized that we can often get our money back, yet we NEVER get our time back! In other words, time management experts emphasized the real price that we pay for everything that we do with our time.
This is why a quote from Henry David Thoreau is now so important to me. I am at the point in my life when what I do with my time is often more important to me than how much it costs me to pay someone else to do something.
The price of anything is the amount of life you exchange for it. Henry David Thoreau
The Real Price for What You Have to Give Up
As a competitive runner, I have often met people who run over 50 miles per week. Some run over 100 miles per week. Even if my body would allow me to run 50 miles per week (which I often did in my 40’s), I now have zero interest in devoting that much time to running. The real price for what I would have to give up is too high.
While running has been a favorite pastime for over 30 years, there are just too many other things I want to do with 168 hours each week. I still run, but I devote less time to it than in years past.
Questions for Reflection
- What do you really want to do with your time?
- Using this week’s quote as a “measure” of the price you pay, what things in your life are costing you too much?
- How much control do you have over the way your time is allocated?
- Looking ahead, how would you adjust the price you are paying for those things that you can control?
Coaching for Time Management
If you think that the price you are paying for what you are doing is too high, you may benefit from our coaching services. We can help you identify your core values, set goals, prioritize your time, and commit to action steps. Contact us today to set up a Complimentary Consultation to find out how coaching services might benefit you.
We welcome your comments on this article. Camille and I learn as much from you as you learn from us!