I totally agree with the expression mentioned in the book that time is our most valuable possession because although time is money, money is not always time. The book talks about how we can measure time, how we look at time and how we can get help. According to the author people are excessively focused on the future getting to much time into little time. The paradox of time is the fact that people say if I have more free time I would spend it with the family, or with friends. Based on the research done by authors if our next day will be free again only 30 percent have said that would pass the free time with family and 9% percent with friend this is called time crunch. Based on the book people are becoming more time pressed and people are spending more time on money, time saving devices, and time saving services. Our scarcest resource time is much more valuable than money.
In time paradox there are 6 ways people approach the time: past-negative, present-hedonistic, future, past-positive, and present-fatalistic. Understanding the role of time in investment can lead to wiser financial decisions when one person wants to plan for the future, but this does not mean that these book tell us how to manage our decision only in money aspect but it talks about how people can manage time in order to spend it in effective way and not to be a time pressed person but making time work for us because time plays an important role in everybody’s happiness.
9 Aralık 2011 Cuma
THE TIME PARADOX
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Time is a valuable resouce but depends on how people evaluate it as well as how they use it.
YanıtlaSilI do not agree with the statement "..although time is money, money is not always time." I find this expression a little materialistic and profoundly shallow psycho-logically speaking.
"Although time is money" - let us take a look at this. This is so untrue. Time can mean money for a shoe seller as the time passes she/he gets more money if she/he sells and if she/he does not she/he looses it. Same logic about a broker in NYSE, more time s/he passes inside the stock market, more money s/he makes. In this point of view time can be measured using its opportunity cost, in this case beeing money.
There are many other things which a person needs. Such as food, drinks, social life, spirituality, fisical training. Every single need of a person can also be seen as an opportunity cost to time. So if a person spends all of his/her days in the market, s/he would leave behind the fisical training, and good food or beverages or his/her social life, meaning s/he will lose it as the time never comes back.
The second part is true in my opinion. "..money is not always time.." It is true because money could have other sources as well, may be a heritage, may be a creative idea, may be pure luck, and other things not deriving from spending more time in a project or a business.
So in this perspective the expression would be "Although time is precious like a jolly which could be bargained or used for money, entertainment, spirituality,etc. moeny is not always time.."
Time is one of the most precious things that we have been given in this life and yet is the most wasted property. In fact, we need to manage it, but often the situation spins out of control and many situations related to time management are precarious. You have made a well found remark regarding the time management and its use.
YanıtlaSilwhat I like the most from this book was the ancient quote :
YanıtlaSil“Yesterday is already a dream
And tomorrow but a vision
But today well lived makes every yesterday a dream of
happiness
And every tomorrow a vision of hope “
Each decision in the present quickly becomes part of your past. thats the point where the paradox begin i think
YanıtlaSil