Spend to buy "time"

If there is one commodity which is more important than money.. it is time.

The big difference between time and money is  the fact that money if lost can be earned back again, unlike time where time once lost can never be brought back.

With the basic understanding that time is more precious than money,  how should that change our financial habits ?

1. Spend money to save you time and energy
This is a critical aspect that one needs to understand properly. We are all busy.. busy with work .. home or professional. In the rat race we forget to spend time with people who matter the most to us.. our family- parents children even spouses and of course our friends.

We want to earn money for us being able to live a good life and a good life doesnt come with only a better car or a better house... it comes with the people you spend your life with ie your family. If one cannot spend time with them.
Quality time and the min quantity.. then earning lakhs of rupees makes no sense.

So, when looking to spend money , spend it on those necessities which allow you to spend ( in a conservative non expensive way) time with your family. This may mean getting some extra help around the house or a driver which enables you to be less tired when you come home or that nice vacation with the family. Go and visit the grandparents houses or your cousins ..all which build solid familial bonds and nets of safety for you and your family.

2. Spend money which saves you time in the future

Spending money on your education or enhancing your skills for now or the future all will enable you to generate further income and create new income streams for yourself. These investments will allow you to spend less time in the office or create more flexible time for yourself when you need it the most.

3. Spend money to generate passive income

Passive income is the best income of all. It continues to generate even when you are not doing anything, because someone else is doing the hard work for you.

My elder cousin and his wife as an example opened up a pre formal school. They invested time and money and now with the school running well my bhabhi ( sister in law) can hand over the operations to a new principal and enjoy the time she has generated .. with regular income.

So, time is critical and so spending money to "buy" time is the best possible way to spend your money..

Thats simplefinancialsense!