A Very Special Bank Account

Recently I came across an article as follows:



“Imagine you had a bank account that deposited $86,400 each morning. The account carries over no balance from day to day, allows you to keep no cash balance, and every evening cancels whatever part of the amount you had failed to use during the day. What would you do? Draw out every dollar each day!



We all have such a bank. Its name is Time. Every morning, it credits you with 86,400 seconds. Every night it writes off, as lost, whatever time you have failed to use wisely. It carries over no balance from day to day. It allows no overdraft so you can’t borrow against yourself or use more time than you have. Each day, the account starts fresh. Each night, it destroys an unused time. If you fail to use the day’s deposits, it’s your loss and you can’t appeal to get it back.



There is never any borrowing time. You can’t take a loan out on your time or against someone else’s. The time you have is the time you have and that is that. Time management is yours to decide how you spend the time, just as with money you decide how you spend the money. It is never the case of us not having enough time to do things, but the case of whether we want to do them and where they fall in our priorities.”
It propelled me into an imaginary world of colossal loss which everyone of us is suffering without knowing and without caring about, while for every penny lost due to our irresponsible behavior or our wrong decision we blame, curse, sulk, and feel sorry and responsible for days.



There is a very scary similarity between our life and our other worldly affairs. Most of our lives we are very careful, vigilant and conscious of how we use our money earned or acquired. The only difference between time and money is, that it apparently not earned but very benevolently given to us without any effort, but its correct use brings us the visible and invisible advantages in the form of good health, good relationships, respect and peace of mind.



The one thing that I do not agree with the above statement is that with the close of everyday our account is balanced and closed but like every monetary earning savings are also carried forward in an invisible form of investment with unknown rate of return.



The other similarities are as follows:



Time and money both are never in unlimited supply



On both, we have some degree of control on how to utilize them



Unwise, wasteful usage of both brings the unpleasant consequences



Money and time well spent brings advantage, satisfaction, happiness and comfort.



There may be other similarities, but I am not trying to increase the number but trying to make a point.



A normal intelligent educated, diligent, careful individual person, while in his prime of earning, wants to spread his money, on his present needs and invest some for future unforeseen lean times when his/her capability of earning will either decrease or end.



Do we do the same about our time? The diligent useful utilization of time is to spend on leisure, rest, exercise, healthy habits and saving your energies for future when our body will not generate the energy required for a healthy life and there will be a gap of requirement and availability.



There is another big folly about our understanding about time and money, and that difference is huge and most important which is;
THE MONEY SAVED AND INVESTED LIKE IN PROFITABLE SECURITIES, REALESTATE, SAVING SCHEMES ONLY GIVES THE ADVANTAGE TILL YOUR LIFE LASTS, BUT INVESTMENT OF TIME IN BENEFICIAL ACTIVITIES LIKE CHARITIES, SPREADING GOOD WORD, STOPPING FROM BAD DEEDS AND SPREADING THE KNOWLEDGE GOES BEYOND THIS LIFE AND FOREVER.



PLEASE DO NOT WASTE YOUR TIME AS YOU KNOW NOT TO WASTE YOUR MONEY, THIS IS MY HUMBLE SUMISSION.



Rais Khan is a Chartered Accountant and an author. He has worked in corporate sector for 40 years in a variety of corporations ranging from IBM to Etisalat in UAE. He has worked and lived in Pakistan, Saudi Arabia, USA, Africa and the UAE. Currently he is a freelance business consultant and part-time writer. He is the Editor of Pehchaan and can be contacted at rais3002@gmail.com
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