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Time is only better than money if you have enough money to survive and have the basic necessities, otherwise life would be horrible for most people in that situation. With that being said, assuming you have enough money to survive, money is nowhere near as valuable as money. Time is limited for everyone and you can never get it back. If you spend twenty years as a workaholic doing a job you hate to make good money, you are wasting your time. Spending lots of time doing something you hate leads to an unhappy life. People tell themselves that it will all be worth it in the long run, but they can only truly enjoy their life after retirement. By that time most people have missed out on hundreds if not thousands of potentially amazing experiences that they would have had if they had not spent so much time working. The answer to the question varies on a case-by-case basis, but time is generally much better than money.
Time is our most precious. We cannot control time and we all get the same amount, 24 hours a week, 7 days a week, 52 weeks in a year, so use it wisely. You can always get your money back or make more. I would rather leave work on schedule and get paid a bit less than work overtime for me and have no time to do what I want.
It is better to have time than money, as long as you have enough money to be comfortable on this spare time. There is almost nothing worse than financial struggles and hardships, but not having any free time really eats away at a person very badly and has so many detrimental effects.
A very important thing in my life is the time to enjoy it. I value my time because there are many things I should be doing and could be doing with it. I think time can have a monetary amount attributed to it and this is often called a wage. Most people will be happy earning a certain amount that takes care of their expenses, beyond that the amount of extra work really depends how much a person cares to experience other things in life.
It is hard to draw an absolute to this question, but if we define time as a valuable possession, as in something someone might enjoy (rather than time spent worrying about money), then yes, time is hands down better than money. A person who has money also has time, just not the kind of time they would want, so we must therefore define the time to be a kind of desirable time, which is far more precious than the empty currency which will ultimately collapse.
It is impossible to say whether time is more valuable than money. While a millionaire on his deathbed may be willing to part with his money, many millions give up their time in the hopes of becoming millionaires. If time were objectively more valuable than money, no one would work minimum wage jobs.
I am sure most people would love to have more time, but only to make more money. These days, people seems to not have enough time to get all their work done. We could trade in some of this work to make less money, but people are already barely getting by. Most people would not be able live if we could trade time for money.