We’re happy to announce that our “Money Monday” feature is back. Over the next few weeks you’ll get great weekly insight and tips on managing your greenbacks by Dr. Charles Alonzo Peters of MochaMoney.com. Please take a second to check out his site when you get done with this great article.
by Dr. Charles Alonzo Peters
I think we should change the way our money looks.
That’s right. Let’s get rid of those portraits of dead presidents and replace them with ……….. timepieces.
That’s right. On the $100 bill we’ll print a picture of a finely crafted Movado watch.
On the $20 bill we’ll place a good ole Timex, and on the $1 bill – Goodbye George, hello big ol’ fat Flava Flav type clock.
What’s my preoccupation with changing the face of our currency?
I think we need a reminder about the true nature of money. Money represents time – our time more specifically.
Think about this.
Cash is but a mere representation for the time we spent making it. It’s a visible embodiment of the time we used to earn it.
When we purchase that beautiful hand-crafted leather handbag, we’re not really paying cash. Instead, we’re making a trade. We’re trading our time spent at work for the purse, with money acting as the medium of exchange.
This is time spent trapped in a car idling in rush hour commutes on Chicago’s Kennedy Expressway, Washington’s Capital Beltway, or Atlanta’s I-75. Time being tortured to death by unbearable meetings or working outside in the heat of the summer sun. Time spent meeting ulcer inducing deadlines, working with ill-tempered co-workers, or dealing with incompetent bosses.
Time is one of our most precious commodities. Each one of us is born with only finite amount of it. The minute we’re out the womb the clock starts ticking. It’s this precious time spent at work that we’re actually trading for the things we buy.
I believe once we understand that we’re trading our valuable time for the things we purchase, we’re in a position to make better financial decisions.
That shiny new iPad may not look so attractive when you realize that you’re trading away 39 hours of your life for it. Can your family get by with one car when you realize a second car will cost you 1,589 hours of your life? Is the larger McMansion really worth it when you understand it will suck up 23,530 additional hours of your life?
No, I don’t think I’ll ever get clocks on the face of our currency. But perhaps the next time you’re at the cash register, you’ll realize you’re not handing over money, but little pieces of your time.
BMWK, What do you think? Do you believe that money is time? Do you think such a concept can help you with your spending decisions?