Money Value Of Time - Single Mindedness Study

Money Value Of Time - Single Mindedness Study

In Financial Management we come across the topic of the time value of money quite often. You too have noticed it in your studies. Generally, the time value of the money means purchasing power of money at different times. On the contrary money value of time is something like judging the value of time in terms of money.

Suppose you are going to your office in your car and by mistake, you had put some coins and notes on your dashboard. You opened the glasses of the car for some time and notes of Rs.50/ flew out of the car. When you noticed it by the time you had passed a KM. Will you return to collect the note or choose to continue your journey? Probably you will continue to your destination since the money value of your time is more than money lost. Do we apply the same logic in our life too?    

In life whenever we try to do something good or different we have to face many challenges. Which makes us strong. When Satya decided to take admission in a professional course after graduation many friends expressed their surprise. People’s perception was that such a course is very tough.

Satya joined a Firm where most of the staff were non-vegetarians and used to smoke. The office environment was very friendly and peoples used to have fun. Even partners of the firm also like this environment.

The situation of Satya was a little different. It was a little uncomfortable situation for him since he was a vegetarian and did not smoke. Being a non-commerce student his knowledge about accountancy audit and taxation was comparatively poor. In starting he used to get the work of comparing Balance Sheet etc. Sometimes few of his colleagues asked him why he joined this course? Sometimes they express doubt about the probability of success too. They had reason to feel it since none of the students could pass the CA course in the last 10 years in his firm.

Satya discussed this issue with his local guardian and got a suggestion to be tolerant and single-minded in studies only. Few students were taking tuition too. But being from an economic background he could not afford the tuition. So self-studies were the only available option for him. He used to utilise commuting time and free time in the office for studies. Many of my friends used to crack jokes at him saying bookworm.

He followed the suggestion of being tolerant and focused on studies religiously. Time changed slowly-slowly and 6 persons appeared for the Intermediate exam. 3 students cleared the exam including Satya. Everybody was surprised about his results. Partners were very happy since after 10 years 3 students passed at a time. As a result, the stipend of passing students was increased by Rs.100 as compared to the other few students who were superior to Satya in terms of practical knowledge.

After that, a party was called into the office and they asked Satya about the secret of the results. What secret he could explain other than following the guidance of Guardians and understanding the monetary value of time.

Friends time is valuable. Let us resect it and never allow it to get wasted. It's limited. Use it to improve your skills and earn your name and fame. The universe is waiting for your contribution.

Please do read the following article too-Why-and-how-to-pursue-chartered.html

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