‘Time is money’: New study shows belief in the adage makes people impatient

If you are a firm believer in the “time is money” adage, you probably find difficulty in having fun during leisure time, research shows.

A study conducted by Sanford DeVoe and Julian House at the University of Toronto’s Rotman School of Management, suggests that people who put a price on their time are more likely to feel impatient when they’re not using it to earn money.

Treating time as money can actually undermine your well-being,” DeVoe says. The experiments’ results demonstrate that thinking about time in terms of money “changes the way you actually experience time,” says DeVoe. “Two people may experience the same thing, over the same amount of time, yet react to it very differently.” With growth over the last several decades in jobs paid by the hour, it’s important for people to be “mindful” of the impact this can have on their leisure enjoyment, he says, and allow themselves “to really smell the roses.” Read the full details of the experiment here. 


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