Time Is Not Equal To Money

June 2, 2005 · Filed Under Main Page, Money What Is It? · Comment 

Taking Time Out of the Money Equation

One essential step toward creating wealth and living an abundant life is to take time out of the money equation.

You have heard it many times.  “Time is money.”  We have all been taught to measure money by units of time.  The only difference between an employee working for an hourly rate and an employee working on salary is the unit of time.   Whether you are paid by the hour, biweekly, or the year, the amount you get paid depends on the amount of time you work. 


Time Is More Valuable Than Money

The truth is, time is not equal to money.  Time is far more valuable than money because time comes to us with an inflexible limit.

No matter who you are, where you live, whatever your capacities and resources, you have the same 24 hours each day as everyone else even though the amount of money available to you can fluctuate.  You can earn a higher salary, lose your job, get a raise, take a pay cut.  Whatever the rate of income you earn, whether it is measured by the hour, day, week, or year, you have only 24 hours day each day and 365 days each year.
 

The Entrepreneur’s Mindset Difference

Ever since I read Robert Kiyosaki’s Cash Flow Quadrant, I have been fascinated by the mindset difference between entrepreneurs and employees. Kiyosaki divides people into the four quadrants of Employee, Self-Employed, Business Owner, and Investor.   Employees and Self-Employed are on the left side of the quadrant, and Business Owners and Investors are on the right side of the quadrant. 
 
What is the primary mindset shift which allows someone to move from the Employee/Self-Employed side of the quadrant to the Business Owner/Investor side of the quadrant?  In other words, how does someone begin to think with the mind of an entrepreneur? 

The mindset shift is to take time out of the money equation. Whether you own a business or work for a wage or a salary, if you trade time for money, you have not made the fundamental entrepreneurial mindset shift of a Business Owner on the right side of the Cash Flow Quadrant.  You have not separated time from money.

Employees and Self-Employed people trade their time for money.  No matter how much you earn per hour, per month, or per year, the amount of money you can earn is limited by the fact that time is limited.  As a result, no matter how much you get paid per unit of time, your income will always be limited by time.  When you take time out of the equation, money is potentially unlimited.

Get Paid For Your Value Instead Of Your Time

One essential step toward creating unlimited wealth is to stop trading your time for money and to get paid for your value instead of your time.

This article was originally published October 26, 2004.

http://www.abundantlyalivenow.com/archive/AANN-2004-10-26.htm

 

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© 2005   Kalinda Rose Stevenson, Ph.D.
Debt or Alive, Inc.
2248 Meridian Blvd. Suite H
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