David Jaffee of BestStockStrategy.com recently reflected on stories from his past and how they helped shape his belief that time is by far your most important asset and why time is way more important than money.
In 2011, David Jaffee was in Medellín, Colombia and met a woman that he wasn't interested in and who he wanted to leave his apartment. She asked for cab fare, and he did not give it to her. This caused the woman to become upset, make a scene and begin crying.
She refused to leave the apartment, but David Jaffee dug his heels in and would not give her the cab fare.
When reflecting on that situation, David Jaffee realized that he made a huge mistake and that situation served as an impetus for a drastic change in his personality.
Several years ago, David Jaffee reached out to the woman and apologized, but he also thanked her.
That situation helped bring about tremendous change.
David Jaffee realized that he created a significant amount of stress for the woman, wasted 30 minutes of his life, and created a significant amount of stress for himself – all to save about $10.
If that situation happened today, David Jaffee would gladly compensate the woman for the inconvenience, so both parties could leave on positive terms. He would reduce and mitigate stress for himself and the woman while saving 30 minutes of his life.
Even now, if David Jaffee has students who are too high maintenance, he will cancel their membership and not allow them to join again in the future.
He does this because it’s important to not allow people to monopolize your time.
You can always make more money as long as you have an adequate amount of time (and health). However, if you try to “win” every interaction then you will sacrifice a lot of your time on people who are not worthy of your time.
You will also cause yourself a significant amount of stress and waste time that you could allocate towards being more productive and creating more value.
David Jaffee encourages his students to value time more than money.
When he was younger, David Jaffee recognized that he had a tendency to value money more than he valued time, but now he believes it's incredibly important for everyone to value their time more than they value money.
David Jaffee would gladly trade money for time.
As you get older, time becomes more valuable, and money becomes less important. However, David Jaffee encourages young adults to think this way as well.
Even if you're 18 years old or in your early 20s, it's important to think about the long term and try to build good habits.
Remember that you should get in the habit of always treating time more importantly than you treat money because you can always make more money as long as you have time, health, good work habits and you're disciplined.To learn more from David Jaffee visit BestStockStrategy.com. You can enter your email and receive $400 worth of valuable options trading training material.
Frequently Asked Questions (FAQs)
Which is more important, time or money?
Research shows that people who value time over money enjoy greater subjective well-being. They also have better social connections, healthier family relationships, and greater job satisfaction. And this isn't because time-affluent people simply work less.