A Penny Saved

Perhaps I was getting a bit ahead of myself with that last post. What exactly do I mean by temporal freedom?

Temporal freedom is financial freedom’s older cousin. Because time and money have a deeply intertwined relationship (though they are in no way equivalent), if you have financial freedom, you most likely have temporal freedom as well, and vice versa. Temporal freedom is the freedom to spend your time however you please. As uncertain as money is, time is even more uncertain still, which makes it very precious. The sooner I can make my time mine again (ie, quit the day job), the better. I could then work on alternative projects that still bring in income, but don’t require me to sell my life away to the 8-to-5 way and that I have a much greater personal interest in. Such independence would require a strong financial base to protect me against the perceived chaos and insecurity–though whether or not this is actually a less secure model than having a traditional job is certainly up for debate.

Financial freedom is my goal; temporal freedom is the reason for the goal. I’m young now, but I know I’m not going to be that way forever. I want to get all the value I can out of every moment of my life! It’s just as important to be frugal with your time as it is with your money. What are frugal uses of time? Self-improvement, spending time with friends and family, exercise, creative pursuits, sleeping enough. What are un-frugal uses of time? Sitting in front of a television for hours on end, excessive drug or alcohol use, shopping for junk you don’t need, procrastination, doing anything passively that you would be better off doing actively. Being frugal with my time is just as important to gaining financial freedom as being frugal with my money is. And with money, a negative balance can be always made positive, but time spent is time spent and it’s never coming back. Death is a hell of a lot more permanent than bankruptcy.

It’s important to apply a frugal mindset to all things. Don’t be cheap with your time, but don’t be a spend-thrift either. Here are some ways to be frugal in how you spend your time:

-Commit to less. Having fewer responsibilities means you have more energy to devote to each one you have.

-Get enough sleep on a schedule that works for you. Is staying up really late working really the best use of your time if you’re exhausted and useless the next day?

-Don’t spend too much time day-dreaming. Learn to recognize when you have given something enough thought and have come to the point where you should act.

-Likewise, try to limit procrastination.

-Take an active role in your life and your community. Participate in local events. Volunteer. Get out from behind your television or computer monitor and get out of your house. Keep learning and experiencing new things. I’ve found that time always seems to move a little more slowly when I’m on an adventure!

If you plan on being financially independent, it’s important to develop good habits now, so that when you do manage to break free of the the 8-to-5 structure, you’ll already know how to manage your time and get the most out of every day.