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Why buying time is the ultimate goal

Dan Morristar
Dan Morristar
2 min read
Photo by Kunj Parekh / Unsplash

Time is the ultimate goal.

We all have varying amounts of wealth and yet we're all equally constrained by the same 24 hour clock. Tick-tock.

Life is passing you by, and much like the sand filled hourglass eventually the last grain will slip through.

You can always earn more money but you can never earn back more time.

...Or can you? Think about this...

  • Doesn't ordering a takeaway save you from cooking?
  • Doesn't ruthlessly cutting out activities sharpen your focus?
  • Doesn't hiring someone free up your time to make money?

The answer to all of these questions is yes and although it is true that we all only have the same 24 hours in a day. Many people have found a way to leverage time. In this post i'm going to talk about a concept called 'Maximising Time' - don't bother Googling it, I made it up.

Everyone can maximise time and gain the benefits of using money to buy time and compounding the results. Let me give you an example.

Scenario 1: You go out on a Friday night and spend £60 on dinner and wine, the next morning you lay in bed and recover from a mild hangover watching Netflix until mid day, until you find the energy to go and make lunch.

Scenario 2: You spend that same £60 ordering takeaway on Friday night and Lunch at home Saturday (Costing you £40). You take the time you would have spent watching Netflix to write a book. Let's assume this process is continued for 52 weeks, at the end of the year you will have £1,000 saved and a book that could potentially be generating you additional money. Repeat this process for 10 years and reinvest the money at a 6% rate of return and you have £13,000 in the bank and 10 books published.

Scenario 2 might not seem impressive, it's certainly not retirement money but it's definitely the start of freedom money. Investing a few hours Friday and Saturday would have given you a minimum of 1 year of your time back AND a foundation of products to grow and expand. You then have more options than you had before, not less. You have the OPTION to take a year off work and focus on other projects.

Let's imagine for a second you choose to take a year off and focus on your projects, how far could that take you? It would certainly be a lot easier having business as your main focus rather than trying to slot projects in around your job. Having 7 days a week to focus your energy on one project gives a far bigger opportunity than only having the weekend available.

... Let's look at another example.
If you didn't want to take a year off perhaps you could record YouTube videos and market your 10 books and use the money saved to invest in hiring a video editor to free up your time and allow you to make even more content while not impacting your job.

The point is, investing your time allows you to buy time in the future or leverage your business. Once you have a large enough block of time or capital then you have the potential to work on something bigger. In Monopoly it's impossible to start the game by purchasing a hotel on Mayfair, assets must be scaled up. How you spend/invest your time should also be scaled up. Most people focus only on saving and investing money, smarter people also focus on maximising time. This doesn't mean put less hours into your job, this means cancel your Netflix subscription and build something before the sand stops flowing.

Dan Morristar

Talking Personal Finance and YouTube.