It is always true that time is money. Time is valuable because everyone, rich and poor, has only 24 hours. At Unleash Your Potential, there is an article on introducing a way to identify and eliminate time-waster and low-contribution tasks – by keeping an activity log:
If you don’t know where you are spending your time, you are wasting money. One of the most profitable skills that I learned in my first job after college was tracking my time in 15 minute increments. I was working as a staff accountant for a local CPA firm and had to account for all of my time. If I didn’t track my time, then I didn’t get paid. In addition to tracking my time, the majority of my time had to be billable. This exercise taught me to be aware of where I was spending my time and to focus on activities that generated profit for the firm. In subsequent industry jobs, I realized that this skill gave me a significant competitive advantage. While others were engaging in “water cooler” conversations, I was getting recognized and promoted.
The section on The Currency of Time talks about everyone has the same amount of time, but the value of it can be different by spending the time wisely. It is exactly how we should remind ourselves everyday.
How to Increase Your Value by Tracking Your Time – [Unleash Your Potential]