“Time is money” is an axiom that stresses the importance of time and the need to use it productively. Time is the most precious thing in the world, for once lost it can never be recovered. So in sense, time is more precious than money itself because if money is lost from any one he can get it back if he works hard for it. We understand the value of time when it is lost. Often we run into people who waste their youth in nonsense aims and then they realize in the middle age that they have achieved nothing at all. Such people are like grasshopper in the “ants and the grasshopper story”. Some people waste their time in watching TV, playing computer and talking on telephone. Every second we waste, we are depriving ourselves from the awards of our own productivity. People, who did not understand the value of time, never achieve high position in life. For example if a person comes late on job, he will be thrown out of the job. If one keeps important clients waiting, it will result in loss of business. There is another important saying that “Time and tide wait for none”. We must understand the value of time because genius is never rewarded by even an extra hour a day. Success and material prosperity comes only to those who understand the importance and value of time. So we must respect time not only ours but also other people.