The Basics: What Is Your Time Really Worth?

You’ve probably heard the saying, "Time is money," and it holds true now more than ever. The first step to living a financially savvy and fulfilling life is understanding the true value of your time. Whether your hourly rate is $20, $500, or somewhere in between, it’s essential to recognize what your time is worth and how you spend it outside of work and daily responsibilities.

Once you have a handle on this, the next question is: how do you use your free time? Ultimately, it boils down to two main approaches:

• Saving Strategy: You could spend your time figuring out ways to save money—finding deals on groceries, cutting down on utility bills, planning budget-friendly vacations, and more.

• Earning Strategy: Alternatively, you could use that time to earn more money—taking on a side gig, learning a new skill to boost your income, or strategizing how to get a raise at work.

At its core, this is about mindset. Are you focused on saving with your time, or investing it to grow your income? There’s no right or wrong answer—it depends on your goals, energy, and circumstances. It’s perfectly okay if you don’t want to dedicate more time to earning extra money, especially if you’re already putting in long hours. But understanding this balance is key to maximizing your time, money, and overall satisfaction in life.

So next time you’re scrolling through grocery apps to save a few bucks, ask yourself: “Is this the best use of my time right now? Would I be happier and more financially secure if I spent this time earning $20 more instead of saving $5?”

This may sound like a simple question, but it’s one that often gets lost in the rush of everyday life. Taking a moment to reflect on it can help you make more intentional choices that align with your goals and lifestyle.

- Frugal Canuck