Time = Money?

The Bible teaches and challenges us to be good stewards of the resources which we have been entrusted by the Lord. That includes making good determinations about how we spend our time. 2nd Corinthians 4 offers some insight:
13 And since we have the same spirit of faith, according to what is written, "I believed and therefore I spoke," we also believe and therefore speak,
14 knowing that He who raised up the Lord Jesus will also raise us up with Jesus, and will present us with you.
15 For all things are for your sakes, that grace, having spread through the many, may cause thanksgiving to abound to the glory of God.
16 Therefore we do not lose heart. Even though our outward man is perishing, yet the inward man is being renewed day by day.
17 For our light affliction, which is but for a moment, is working for us a far more exceeding and eternal weight of glory,
18 while we do not look at the things which are seen, but at the things which are not seen. For the things which are seen are temporary, but the things which are not seen are eternal.

To play off some old cliches here, is time money?  And, can money buy happiness?

There was a recent story that ran at the USA Today website that explored these questions, based on a survey by an organization called, Empower.  The article said:

...financial planning firm Empower asked 2,204 adults between March 11 and 14 how much money they thought an hour of their time was worth.

On average, Americans valued their time at $240 an hour. And based on a standard 40-hour week, that puts their perceived value at $499,200 a year, or nearly eight times higher than the average U.S. salary of $59,384.

Because people value their time so highly, many are willing to spend money to get a little more or achieve a happier life, the survey showed.

Empower made this troubling statement, “It's a race to find happiness, whether that’s a better work-life balance or a $7 daily cup of coffee..."  I would submit that if you are participating in that race, you are probably losing, because you are depending on the tangible resources of this world to provide the intangible notion of a satisfied soul. 

And, oh those Millennials we have been studying for so long. That age group of adults now in their late 20's to early 40's valued their time the most, saying that an hour of their time "was worth $328.84, with a quarter of them pegging that at more than $500 – the highest percentage of any generation. Only 6% of Boomers priced an hour at $500 or more."

Gen Z was at just under $267 an hour, with the Boomers appraising their time at just over $137.

But just over 4-in-10 of those same Millennials would take a 15% pay cut to have more free time. Just one-quarter of Americans responded positively to that proposal. 

The article also says:

Wealth isn’t just about your bank account for most Americans. Sixty-three percent said they “feel wealthy” if they have enough time to spend with family and friends, the survey said.

Nearly one-third feel comfortable taking on debt if it buys more free time or a memorable experience.

The Empower website stated, relative to the study:

Time is of the essence as people work toward streamlining their lives and focusing on what matters most to them, amid commitments across work and home that can affect their financial happiness. More than half of Millennials (52%) and 37% overall think saving time is more important than saving money.

For many, getting advice early on is key: nearly 1 in 5 would have worked with a financial professional sooner. Overall, Americans remain optimistic, with 78% saying it’s never too late to start focusing on your finances.

In considering this data, I would submit a couple of conclusions. First of all, time is a gift.  We have only a finite amount of time to spend on this earth.  And, even tomorrow is not promised to us.  And, in light of eternity, our time here is very, very small - but what we do with our time here can certainly impact eternity.  We can be diligent in make sure that our choices count for eternity, pursuing, as Jesus referred to it, fruit that "should remain (John 15:16)."

I do believe that we have a stewardship responsibility over the time God has given us. We can ask ourselves how well we are using it.  We should be pursuing the things of God; certainly there is time for rest and recreation, but we should not neglect to seek His face so that we can make quality decisions, reflecting on how our wise use of time can impact us and the lives of the people around us.