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There are three economies in the world: time, money and liberty.

Economy

I was fortunate enough to have learned how to use the Internet to design my own “lifestyle business” years before Tim burst onto the scene with his groundbreaking book, The 4-Hour Workweek

There were plenty of insights in there that I knew on some level, but had never specifically identified or been able to articulate the way he did in the book — this one ranking right at the top.

In Business:

Of all the three economies, time is the least renewable.  You can make more money tomorrow, you can go somewhere tomorrow you couldn’t today, but you will never get this time back.

People will gladly trade money for time.  Are you able to save them time with a product or guide that shortens their learning curve — or, better yet, eliminates it completely?

In Life:

In addition to thinking of these as the three economies of the world, I also like to think of them as the three freedoms. 

Money freedom allows you to do what you want.  Time freedom allows you to do it when you want.  Liberty freedom means you can do it where you want.

Balancing the three is the key to designing your ultimate lifestyle.  It’s up to you to decide your personal comfort level in each of the three economies.

So remember..

There are three economies in the world: time, money and liberty.

— Tim Ferriss

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