It’s free, but priceless. You can’t own it, but you can use it. You can’t keep it, but you can spend it. Once you’ve lost it, you can never get it back. What did I describe?

Time.

Every person – regardless of age, gender, nationality, or socioeconomic status – exists in four-dimensional space where time is forever linear. In a world where so much emphasis is placed on money and tangible products, it is actually time that is the most valuable and universal asset.

Why? Because time is evenly distributed and the one thing that creates a level playing field worldwide. Everyone gets just 24 hours in a day. Therefore, everything in life should start and end with proper time management. Yet somehow, most people typically think very little about how they spend their time.

Psychologically, the underlying issue could be that people simply don’t value what they didn’t earn. A sense of value is often created when there is an observable cost associated with an immediate or eventual outcome. Time is free, yes, but it definitely is not without cost. Opportunity cost is a concept in microeconomic theory that can be described as expressing the basic relationship between scarcity and choice. In practice, the cost of time is NOT free, but rather the value of the most valuable use of time that is not taken.

Unfortunately, opportunity cost is difficult to evaluate in the present, and is often only clear in hindsight. But that can’t deter a person from making a habit out of allocating their time in a meaningful way. Successful individuals spend their time deliberately, as if every action is on purpose, and the result of thoughtfully using all available resources.

What’s referred to as “time management” is all about spending time in the right places on the right things, and taking control of your environment. It requires discipline, but shouldn’t require extreme effort. Know your priorities, obligations, and schedule, and use all present information to plan ahead. When you manage your time, you benefit across the board.

But wait… that sounds more like self-management, not time management. Yep! Time itself actually cannot be changed or controlled, but it CAN be accounted for. As a result, the way to capture the real value of time as an asset is to manage your self, through time!

Self-management requires initiative, organization, and most importantly, accountability. Take action and identify short-term goals, and a long-term vision. Organize your life by eliminating distractions and placing identified priorities in the spotlight. Urgent and important are not synonymous – understand the difference to recognize where to start. Set deadlines and hold yourself accountable. Punctuality and reliability are crucial and underrated character traits, but they must be internalized before being deployed effectively. Lastly, recognize your own limitations and set realistic expectations. Attempting to accomplish too much all at once ends up counterproductive, so listen to your body and respect its needs. An alert and high-functioning mind has near limitless potential.

When you learn to manage your self, it becomes abundantly clear that time IS the most valuable asset, but perhaps better described more holistically…time is opportunity! I’ll admit, I’m as guilty as anyone of stealing time from both myself and others. I’ve wasted minutes without meaning, and even days without dedication. But recognition is the first step to correction. There are a finite number of tomorrows – you may delay, but time will not! As the past increases and the future recedes, possibilities decrease and regrets mount. Manage your self and use the precious time you have effectively to shape the future, now. Every minute of every day is time for you to create and seize new opportunities.

The time you just spent reading my thoughts is gone forever – so THANK YOU – I hope it was worth it.

Remember: account for time → manage your self → improve your life.

And the clock is ticking.