How Valuable is Your Time?

How Valuable is Your Time?

A social construct is something that doesn’t actually exist in reality but instead, it exists because of human interaction, that we agree upon as a whole.

One of the greatest and most useful social constructs is time. It allows society to be able to track the forward-moving progress of life.

We use constructs like a second, minute, hour to understand shorter periods of time; and day, month, year to understand longer periods of time.

In general, the value of any given period of time compared to, a different but same amount, period of time is equally valuable. However, the value of a period of time for any given person decreases over time. This is because humans eventually pass away, and time is perpetual.

Opportunity Cost

For every choice you make in life there is an opportunity cost or the loss of potential gain from other alternatives. This is especially apparent in time, or what you decide to do with your time.

Every choice, decision, or action you make during a period of time there will always be a loss of a potential gain in an alternative choice. The best way to maximize the value of your time is to decrease your opportunity cost.

The value of your time is maximized by not only decreasing your opportunity cost now but also by decreasing future opportunity costs.

For example, you have an exam for a class tomorrow, it’s an important exam, if you fail you must retake the class. So, choosing to study tonight for your exam your opportunity cost for example would be hanging out with friends.

The benefit of studying is getting a good grade on the exam and passing the class. Now if you decided to go hang out with friends instead of studying your opportunity cost would not only be failing the exam, for not studying but also an entire semester of having to retake the class.

The benefit of not studying is that you got to hang out with your friends and enjoy a fun night out. The benefit of choosing to study greatly outweighs the benefit of hanging out with your friends because the future opportunity cost is decreased.

Your Most Valuable Time

The most valuable time in your life is your past and the second most valuable time is the present because everything you do will be exponentially expanded upon throughout your life.

So, if you were to spend time with your friends, this will lead to a better relationship with your friends in the future. If you studied more calculus, you will understand harder and more complex mathematics in the future. If you practiced woodworking, you will become a better woodworker.

Everything you chose to spend your time on you will become exponentially better at whatever it is you decided to do. This becomes critical to understand if you are trying to achieve mastery in a field of study or a talent.

This means that if a decision on what to do with your time right now not only affects the value of that time in the present but also affects the value of your time in the future; then the value of your time right now is more valuable than any time in the future.

Therefore, it is important to you use your time wisely and spend your time as best you can to maximize its value because your time is limited and is not expendable.