In the world we live in, there’s a closely intertwined relationship between time and money. They are both essential resources that we can’t do without in our lifetime and oftentimes there’s always competition for more of these resources. However, in reality, if you wish to get more of either of these two resources, you’re most likely going to sacrifice one of them. A clear example of this can be seen in our work life; if you want more income, you’ll need to work more which means you’ll sacrifice more of your time.
According to financial experts at E.A. Buck Accounting & Tax Services contacts in Honolulu, your answer to the question of More Time or More Money will be influenced by your personality, age, current needs, future goals, priorities, and others.
Also, it has been found out that more money often gives rise to more possessions such as houses, cars, expensive lifestyles, and others. On the other hand, more time is usually linked to more experience as you explore the world around you, pursue your dreams & passion, and basically live a free life. Interestingly, it’s also possible to find a balance between these two precious resources. In other words, you’ll have a sufficient amount of both resources. Read on to discover more about these two resources that play an essential role in achieving our financial and life goals.
Reasons People Tend to Seek More Money Unconsciously
-
Societal Status
Money is a measure of status and power. It is also a way to make people feel better about themselves. Due to this, people tend to unconsciously seek money so that they can gain control over their lives.
People may not realize it but money is a way to show others that they are successful or at least give the impression of success. Most people do this because they derive a sense of accomplishment when people perceive them as successful. In other words, money helps to boost self-esteem. People also want more money so they can feel like they belong or fit into a societal class.
-
Lifestyle Preference
People have different priorities and set different goals for themselves. This is especially true when it comes to money and lifestyle. Money helps you to maintain a particular lifestyle or even change your lifestyle. Due to this, most people chase money relentlessly and as such become a prisoner of their lifestyle. For someone who loves to live a life of luxury, a reduction in such a person’s finances will drive them to trade more time to get more money to help maintain their lifestyle.
-
Basic Needs
It’s no doubt that we all need to put food on our table, clothes on our backs, pay bills, rent, school fees, and several other needs. We also need to pay taxes as well as save for future goals and needs. And as we know, all these needs and goals can only be met with money. However, it can be challenging to comfortably meet these needs so many people trade more time to earn more money.
Reasons People Tend to Seek More Time Unconsciously
-
Pursuit Of Passion And Dreams
Most of us have that thing that we’ve always dreamed about; something that makes us burst out with zeal. But to be honest, those passions don’t always meet our monetary needs (at least at the early stage). Nevertheless, we often need more time to chase our passion and dreams so that they can bloom and in return generate more money (this is only applicable to passions that can generate more money in the long run). In a case where a passion can not generate money in the long run, people still need time to enjoy and embrace their passion.
-
Family
Family is a critical aspect of our life; they are our first and often most significant social group. In fact, families drive most people to be better as well as spend more time to earn more money so that the family’s needs can be met. In reality, the more time people spend away from their families in the name of more money, the more the distance between them and their families. In order to avoid this, many people are becoming more aware of the need to spend quality time with family and as such, people are beginning to routinely sacrifice more money for more time.
-
Health
According to findings, people that spend most of their time working tend to break down with serious health issues over time. The stress of work, lack of adequate sleep, lack of exercise, more intake of caffeine, more junk food, and others, all contribute to the deteriorating health of people who spend more time on work. If people learn to spend more time away from work, they will rest better and pay more attention to their health.
Both time and money are crucial to life but balance is key. People must learn to create a balance between these two resources to enjoy quality life