So teach us to number our days that we may get a heart of wisdom (Psalm 90:12)

The year 2013 is almost over. I consider this time of the year a special one. For one thing it reminds us of the passing of time. Indeed time flies (especially if like me you are above 50!).

While people value money and even invented economics to better manage this scarce resource, very few people appreciate the value of time. Both time and money are scarce resources. But I believe that time is more valuable than money. When we lose money, there is a fair chance that we can recover it. However, when we lose time, it’s gone forever.

This reality has some serious implications. First, we must budget time just as we budget our money. One can end in financial ruin if she does not budget her money (e.g. how many have busted their budget because of the word “SALE”!). Similarly, without proper budgeting, time goes to waste. We end up doing things that we regret later on (e.g. watching too much TV then cramming to beat a deadline). In the office, a good indicator is when we are always late in submitting reports and in attending meetings.

A second implication is that we must learn to prioritize the use of time, just as we prioritize which things to buy. Without a sense of priority, our time will be controlled by people who tend to dominate us. It’s hard to refuse an invitation to go out if there is nothing on our schedule. Alternatively, it’s easier to say no if we see that we have something to do.

There are many tools by which we can budget and prioritize our time. Some rely on a simple “To do” list, others on a calendar cum scheduler, while the more tech savvy use their cell phones and tablets. Whatever works for us is fine.

As we bid farewell to 2013, may we reflect on how we have used the 365 days that are about to end.