How do you “spend” your time?

Because make no mistake, time is a currency. There is a cost to how you spend it. The cost might be a trade-off, like choosing one activity over another, but don’t fool yourself into thinking that this is a free exchange.

This is why I have never understood it when people ask, “How do you spend your free time?” Time isn’t free. As a valuable, nonrenewable resource, it’s actually quite expensive.

Setting the “free” part aside, it’s important to remember that having the option to think about how you spend your time is a luxury many people can’t afford. All their time is already spent. For some, time is allocated, from birth through the rest of their lives, to work and survival.

All of this leads to a simple reminder: Spend your time wisely.

The above blog is by Carl Richards originally published in The New York Times’ Blog.


About the author: For the last 15 years, Carl Richards has been writing and drawing about the relationship between emotion and money to help make investing easier for the average investor. His first book, “Behavior Gap: Simple Ways to Stop Doing Dumb Things With Money,” was published by Penguin/Portfolio in January 2012. Carl is the director of investor education at BAM Advisor Services. His sketches can be found at behaviorgap.com, and he also contributes to the New York Times Bucks Blog and Morningstar Advisor. You can now buy – “The Behavior Gap” by Carl Richard’s at AMAZON.

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