In my previous post I examined the Franklinism “Time is money”, exploring the idea that time and money are not one and the same, but rather each a form of currency. While time and money may be two of the most obvious forms of currency, they are by no means the only ones. In this post I’d like to talk about some other forms of currency, and why they’re important.

In addition to time and money, the currencies of life include energy, attention, and reputation. This is not an exhaustive list, and there are sure to be more, but these come to mind as the most common (I would love to hear about any more you might think of. A good way to tell if something is currency is to examine the way we talk about it. For example, we spend money, invest time, save energy, and pay attention. All are verbs we use when speaking of currency). Each currency has its time and place, but in their respective realms each currency is irreplaceable.

Energy
Energy is the currency of action. It is through exertion that we achieve our goals, whether working towards those things that bring happiness or to attain those that bring pleasure. The mastery of a skill requires not only time, but also energy. So does building loving relationships. Those who take time but exert no energy cease to progress, while those that exert energy but take no time start many things but finish none. When we lack either, we fail in our endeavor and frustration is our only reward.

Unlike time (and like money), energy can be saved, allowing us to use it later in other pursuits. This can be done in two ways: First, by doing nothing (ok not nothing, but I think you know what I mean). Doing nothing is an excellent way to save energy (it is also an excellent way to waste time). Second, by increasing efficiency. When we do something more efficiently, we take less time and energy to accomplish the same task, giving ourselves more time and energy for other pursuits. Science and commerce have increased the efficiency of almost everything: getting food is a matter of going to the store and buying it (or stealing it) rather than living on a farm and raising, growing, and harvesting it yourself. Travelling long distances is a matter of hopping in your plane, train, or automobile and going 700 miles in a day rather than 70 in a week. This increased efficiency has given us more energy and more time; now the challenge is to use that time and energy in worthwhile pursuits rather than basking in the ennui of post-modern life.

Attention
Attention is far less obvious as a currency, but it is as pervasive as time and as powerful as energy. Every waking moment we spend the currency of attention: on Facebook, TikTok, our families, the news, video games. The list is literally endless. Attention has become a multi-billion dollar industry, with every restaurant, clothing store, website, app, and business trying to steal your attention. If we aren’t careful (if we don’t act with intention), we can spend our whole lives paying attention to things of lesser value while those things of import go, if not unnoticed, unattended.

On the other hand, attention well-spent leads us to great heights. We learn by attending to good books and good music, or by attending class; we develop spiritually by paying attention to our spiritual leaders or holy writings; and we improve mentally and emotionally by paying attention to our thoughts and feelings and understanding how they contribute to our well-being. Much like time and energy, developing relationships and skills requires our attention. In fact, the trifecta of time, attention, and energy is one of the most important combinations of resources we have. They are the vital ingredients for success in any undertaking.

Reputation
Reputation is perhaps the least obvious of currencies, but it is nonetheless significant. We build our reputations among those around us one decision at a time. We gain a good reputation when we act admirably, serve others, do good work, or keep our word. We gain a bad reputation when we act selfishly, put others down, shirk our responsibilities, or break our promises.

Reputation is unique among currencies in that it is not spent and saved the way others are. Reputation doesn’t necessarily diminish when we use it to improve and progress. For example, a woman of high reputation is able to use her standing to secure better employment, or assistance for those she cares about without her reputation being tarnished. Conversely, we can throw away a reputation at the drop of a hat by acting contrary to the character we have cultivated: a person of high reputation can acquire great wealth and power while simultaneously destroying their reputation if such wealth and power was acquired immorally or unethically. In both instances the currency of reputation is used, but depending on how we act in relation to our established reputation, we can increase or decrease the purchasing power it affords.

Interestingly, reputation is also unique in that it, alone, passes with us beyond the grave. When life is over and we have spent all our time and energy, and when our money is no longer ours, we will long have our reputations. This may not seem like much to a dead person, but when we look at the number of hospitals, charities, humanitarian programs, and institutions of learning that have been named for and inspired by those that have passed before, we can see that reputation has perhaps the greatest potential of all as a powerful influence. The welfare of millions can be purchased with the reputation of just one.

Finally
With each of these currencies in mind, there is one last topic I’d like to discuss: exchange between currencies. Much like the exchange between time and money and vice versa, we make exchanges between all currencies. To name a few (among many others): we exchange time for energy when we sleep; we exchange time, energy, and sometimes money when we build our reputations; we exchange our money for energy when we buy more efficient tools and appliances; and we exchange our reputations for attention when we delegate tasks to or ask favors of others.

These exchanges underlie everything we do in life, and they cannot be done away with; we can’t go without sleep, and we build a reputation no matter what we do whether we like it or not. Sometimes the drive for more currency dominates our life and we do everything in our power to acquire money, or to gain fame and recognition, or to lie around sleeping all day. The thing is, a happy and successful life doesn’t come from the acquisition of currency (saving all the money in the world, having boundless energy, or building a towering reputation). It comes when we spend our currencies on those things that actually bring happiness and success: spending our time and energy creating loving relationships, using our money and reputations helping those in distress or poverty, or directing our attention to the people who feel unloved, uncared for, and unnoticed.

Having currency is what allows us to live our life, but spending currency well is what makes our life worth living.