What is money and what is the purpose of it?
It might be a very common question and it should be answer in the same manner with common words and very easy to understand. I highly recommend seeing the history of money a documentary that tries to explain what has happened over time and how things were exchanged in an equally agreed upon sides, trying to be as fair as they could. This is were currencies were born. and I always like to explain why USD are called bucks, so in the old times 1 USD was backed by 1 ounce of gold and it was equally worth as a dead buck and many times people would leave a buck as a promise of exchange or a source of value of some debt they had. It was easily converted from 1 USD to gold or to a buck.
I'm not going deeper than that because I would like to discuss something else which is being quoted as:
Time paradox of money
Many times we are converting time to money because the good old saying that time is money holds true until some point and then the lie behinds it gets exposed.
So if you have 24 hours a day of time that are given for free, you use 8 of those hours working for X amount of USD (for the sake of simplicity) and that used to be equal an amount of gold, we all are riches because we own the time and we could possibly use it as we decide fit us, and that should be totally fine!
When we think of retirement we tend to think that we need X amount of funds to be saved to use in our spare time. Once again we have X amount of USD that allow us to live and sustain the costs of living in our now free time. When we are in working years we are working hard to store time, I mean save USD to someday enjoy that as we get time off that was originally given for free. If we add all the new first world problems it starts to get very clear we have fell into what some authors refer as the rat race because of the following problem:
- We work really hard to save lets say $100 USD to buy a bicycle
- We want the bicycle to save us $50 of commute
- We barely save money so we get in debt to get the bicycle in the hope to repaid it with savings done on commute
- We do not use the bicycle once it has been acquire so no savings are made, debt increases and we have to work extra hours to be able to meet ends by the end of the month
- We get stressed out and once again daydreaming of using the bike and how things would be great using it
- One morning we realize we are old and we have no retirement funds, never used the things we accumulate over time and guess what we are now older. with time but no money or energy to do all we wanted.
This is a joke example but that really holds true for many situations specially on the most expensive things in life. If you decide to buy X hour or the 5X house the effects of that decision that was made 30 years ago are being carried till your retirement.
So my believe is that money is not equal time, time equals money just if you are able to do what ever you want and money is not an obstacle.
How much is a silver coin worth that is 100 years old in silver? The same quantity of silver, but the price tag will vary depending on whom you ask and that's the key part of it. So if you are working for a medium wage but you have spare time and do not have financial problems that's great I'm sure you will do fine with a higher paying job unless you fall for the rat race.
Rat race is something made
Who said you need to get the latest iphone or android phone to be in. Who said you need to live in A or B place to be in, or maybe go for vacation to W or Z country or place, everything is being advertised to us for those who control the money but not the time. You are the owner of time, your destiny and what ever you would like to do in the future, think everything carefully and think of the things you are willing to do, miss, pay and suffer for what ever you decide to do.
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