Time Is Money

You've probably heard this phrase often thrown around in the workplace or even over a cheeky pint with your pals at the pub, dreaming big like our beloved Del-boy that one day next year, "We'll be millionaires".

Yes, it's a simple 3-word phrase but when you dig a little deeper into it, the concept itself reveals something that we have probably all overlooked at some point in our lives.

Ultimately, when we go to work each day, fulfilling duties as determined by our work contracts we signed at the start of employment, we are exchanging our time for money.

Whether you're paid by the hour, salaried worker, self-employed or freelance, you receive these number tokens in your bank account for the time or value you have given to a paying client.

You can redeem these tokens straightaway by paying various bills or spending on that thing you wanted, or delay gratification by storing it away in a savings account or investment for your future goals.

We definitely revisit this concept a lot throughout Millennial Finance but whatever you decide to do with your money, just remember this concept that time and money is inextricably linked.