They say "time is money"--what does this really mean?

Answer 1

The concept that a dollar in hand today is worth more than a dollar that will be received in some future year.

It also refers to the fact that one can use his or her time to make different and possibly more profitable decisions with his or her time. But mostly, that the present value of a dollar is worth more than the future value of a dollar given that one can invest that dollar and gain a good return on his or her investment therefore making the dollar worth more than a dollar in the future vs being given a dollar later on.

To further add, Albert Einstein said one of the most powerful things in the world is compound interest. The idea of compound interest further supports the financial term "time is money"

I hope this helps.

Answer 2

It is used in business or under working conditions frequently. I think of it the more time you waste, the more money that is lost or spent (where your employer is concerned). If you are familar with how the stock market works, you could look at it in that context as well. Stock prices go and up and down over the course of the day, so the more time that goes on, the more money is made or lost.

Answer 3

A three month CD @ 5 3/4 % or what ever, the time is three months the money is 5 3/4 % interest One hour work $6.00 per hr. The time is one hr. the money is $6.00. Time working is money made time not working is money not made.

Answer 4

ok if u had 3 people working 4 u and all they did was talk 4 15 min. thats a wate of 45mins and u r paying them to chat NO i don't think so time is money !

Answer 5

It means that when one works, s/he earns money. To take some time off to indulge someone else or to waste time is to not be paid for that time.
In other words, use your time wisely, make more money, do what is needed and don't waste time.

Answer 6

You can either do something yourself, of pay someone to do it for you. If someone takes up your time (when you could be earning money) they are taking money from you.