Treating time as money undermines well-being

People who treat time as money may find that their well-being is undermined as a result, new research has suggested. Investigators at the University of Toronto's Rotman School of Management found that individuals who put a price on their free time often become impatient when they do not use it to make cash.

According to the investigation, this behaviour can damage a person's ability to take pleasure when participating in leisure activities.

Professor Sanford DeVoe of the Rotman School of Management, said that this way of thinking can alter the way a person actually experiences time: "Two people may experience the same thing, over the same amount of time, yet react to it very differently."

He noted that individuals need to allow themselves time to really enjoy moments, especially as the last few decades have seen a marked increase in the number of jobs that are paid by the hour.

Professor Cary Cooper, an Honorary Fellow of the Society, said: "Disposable time is the one thing we don't have. People are working longer hours, due to factors such as job insecurity and having highly pressurised jobs. The more space we create for ourselves, the higher our well-being."