The expression time is money is familiar, especially to people who live in cities. The derivative of this expression can be seen from the copy of the salary you receive each month from the company you work for. The time you give to the company is compensated by money. You get a monthly, weekly or daily salary, which is an appreciation for the services you provide. The time-is-money philosophy influences many things in life. For example, whether a project is implemented or not - this can be determined by this philosophy too. The projection of 'cash flow' generated from a project is converted to Net Present Value using the Time Value of Money formula. Whether the NPV is positive or negative - this is the basis for making a 'Go' or 'No Go' decision on a project. The history of this philosophy is interesting. Some say that Benjamin Franklin is the most important figure behind this philosophy. He once said, "Remember, time is money; honesty is good in business." Benjamin Franklin really admired the values of the Puritans who lived in the 17th and 18th centuries. The Puritans developed a time-respecting philosophy, which was adopted from the thinking that developed in Europe in the 16th century.
The expression time is money is familiar, especially to people who live in cities. The derivative of this expression can be seen from the copy of the salary you receive each month from the company you work for. The time you give to the company is compensated by money. You get a monthly, weekly or daily salary, which is an appreciation for the services you provide. The time-is-money philosophy influences many things in life. For example, whether a project is implemented or not - this can be determined by this philosophy too. The projection of 'cash flow' generated from a project is converted to Net Present Value using the Time Value of Money formula. Whether the NPV is positive or negative - this is the basis for making a 'Go' or 'No Go' decision on a project. The history of this philosophy is interesting. Some say that Benjamin Franklin is the most important figure behind this philosophy. He once said, "Remember, time is money; honesty is good in business." Benjamin Franklin really admired the values of the Puritans who lived in the 17th and 18th centuries. The Puritans developed a time-respecting philosophy, which was adopted from the thinking that developed in Europe in the 16th century.
However, this does not mean that time is money. Time is more than money. Time is opportunity. Time is life.
I did not expect this to be like an accounting subject as I thought of it as a realization of how important time is in our lives. Good point still ❤