Ten Dollar Rule

In an essay by Benjamin Franklin, printed July 21, 1748, he wrote, “Remember that Time is Money…”  Further on, in that same essay, he concluded, “Waste neither Time nor Money, but make the best use of both.” 

Nearly 300 years later, we still subscribe to the same school of thought.  And, research would suggest that this was not a new concept 300 years ago.  For centuries, or even millennia perhaps, time and money have been inextricably connected.

When I was in college, anticipating that for myself, one day time would equal money; I incorporated this new Ten Dollar Rule.  I applied it to my projects and exams.  The Ten Dollar Rule works like this:  If I only have $10 to spend for any given timeframe, how will I allocate my resources?  Two dollars for studying the most recent chapter and eight for praying that most recent chapter was the only material that would appear on the exam? 

So, for me the Ten Dollar Rule addressed preparation.  How much time will I spend to prepare?  This logic can be applied to so many areas of life, and for me still does.  How much time is spent on a morning routine?  How much is spent on planning for work projects?  How much for any simple daily activity or major life milestone?

In another example, how much should be spent in the morning?  I’d suggest spending a few dollars on exercise, a few more on meditation.  Spend a few to prepare and eat a healthy breakfast.  And, the last few to shower and dress.

Another metaphor is how much energy are you willing to spend on any given situation.  You only have ten bucks, why waste any on worrying or complaining?  From my years of experience with IT helpdesk questions, I’ve concluded that I won’t waste any money or energy, on formulating an opinion, a feeling or any judgment about the call or caller.  I no longer spend money on taking anything personally.  Instead, I try to spend all of my $10 on finding a solution.

Put simply, time is money and money is time: spend wisely.  There are plenty of time-honored phrases about the importance or significance of time.  Time flies.  Time hangs heavy.  Timing is everything.  Time is of the essence.  For the purpose of this blog, my time is up.

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