Why Time Isn’t Money

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We often tend to use the same language for time as we use for money. We “spend” it. We “save” it. We “buy” it. We use those same words because both time and money are very precious resources to us.

But while money is always money (the same 20 dollars can used to buy food, movies, or in my case, a new book), time is a little more nuanced.

In fact, the Greeks had two different words for time: chronos and kairos. Chronos was the quantitative sense of time. It could be measured and dissected, and most importantly, was undifferentiated.

Kairos, in contrast, was the qualitative sense of time. It was psychological, how we felt time, and it reminded us that not every moment was exactly the same — some moments were more powerful, more important and more holy than others.

To phrase it another way, if chronos is the date of your wedding, kairos is your wedding day.

So time is paradoxical. Sometimes we look at it through our daily or weekly schedules, placing all our obligations and opportunities into our calendar. When we look at time in this way, it is something we use, and has value only to the extent that it can help us achieve other goals. But sometimes we look at time through the lens of what is most special and important in our lives. When we look at it in this way, it is something we experience, and has value in and of itself.

Our view of money, however, doesn’t have this challenge. Money doesn’t have value in and of itself — its power comes in what it allows us to do. The question then is, are we using our money to help us do what we truly want to be doing?


Happy Money
In the new book Happy Money: The Science of Smarter Spending, Elizabeth Dunn and Michael Norton outline the different ways we can use money to increase our well-being. While money doesn’t buy happiness (at least not directly), if we use our money correctly, we can find opportunities for more joy and satisfaction in life. And one of the primary ways we can do that is to use money to buy time — but it has to be a specific type of time.

Posted on June 13, 2013
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