Time - For Investment or Consumption?

Time - For Investment or Consumption?

කාලය රන් හා සමානය (Kaalaya Ran Ha Samanaya), a common Sinhalese proverb that many of us learnt, which inculcates the meaning how precious time is, valued as equivalent to GOLD. This belief is inculcated in many other cultures as well.

Now anyone can buy GOLD, but can anyone buy or sell TIME?  Borrow or Share TIME with another? Since you don’t have a market for TIME you may want to disregard it as a resource and manage the all other resources timely. For many decades we believed people are in markets and not living in societies. Perceived market value, traditionally pitches over the social values. Irony is we all are still confused between value –market determinant- and values we inherited and founded well in our cultures.

 Yet time has been commercialised in different forms in the banking and finance industry. Often the accountancy profession deals with future value of projects to assess the net present values on investments. Therefore we can find two categories of clients in the financialised economies. The first category, spend time to earn money, the other who expends money to save time, purely for commercial reasons. In banking business these two groups are known as depositors who park their money to earn interest, the others who pay interest to borrow and invest to increase efficiency in respective businesses. Eight hours of work, is another commodification.

Although time and money has established a correlation for commercial purposes, the confusion still remains is TIME a resource or not. Having argued that time cannot be bought, sold, borrowed the challenge for many is how to find time, be it for personal or organizational purposes. Finding TIME is possible and time management is all about that.

As stated earlier; people are very often confused with setting priorities, in other word how to differentiate between their URGENT and IMPORTANT things in life. Hence, steeling or wasting time becomes individual habits trying to adjust between tasks. Secret in getting things done in life is to ACT.   Psychologist and philosopher William James said; Sow an action and you reap a HABIT, Sow a habit and you reap a CHARACTER, Sow a character and you reap a DESTINY.  What is a habit? Something you develop through repetition. Make it a practice to respond to DO IT NOW to little things and one could quickly develop the HABIT to ACT.

There is a dictum to shape your destiny; Think BIG, plan SMALL and ACT now. This write up I am ending with another question. Which part of your body, or the organ that can feel time? 

Jayasri Priyalal

Mr. Jayasri Priyalal is currently working as Director, Finance Sector, Professionals & Managers Group Activities of UNI Asia & Pacific, Singapore. He holds a MBA obtained from Postgraduate Institute of Management of University of Sri Jayawardenepura..


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