Time

While time is elusive, we all seem to think that others can have more or less of it than we do. Untrue. Each and every one of us have the same exact amount of time in a day. The difference is where we choose to spend it. Dr. Herbert Simon called it "the scarcity of attention." There are a multitude of things that warrant our attention, and we choose, sometimes unconsciously and unwisely, how to allocated our attention. There is no such thing as "I don't have time." Simply, you just don't think that that particular activity is as important as the ones already consuming your time.

The problems start when we waste our time by giving it to activities where we are overworked and under appreciated. Or when we let pressure from others influence how we spend our time. Time is a finite resource that cannot be bought back. Like money, you cannot regain sunk costs, guarantee return on investment, and must analyze opportunity costs. Even though less tangible than dollars, the risk is much higher for mismanagement, but the reward is much greater when invested wisely.

On another note, never trivial someone else's time by saying they must have a lot of "free time." There is no such thing as free time. Time is one of the most important things we have, and just because someone doesn't have kids, works part-time, spends a lot of time playing video games, or whatever, their time is just as valuable as yours.