You may picture a large sum of money or a lack of debt when considering what it means to be rich.
But having control of your time and the agency to do what you want with it is another component to living a rich lifestyle, says self-made millionaire, money expert and author Ramit Sethi.
“If you are able to be ‘time rich,’ that means you can spend time extravagantly on the things that you love,” he tells CNBC Make It.
When Sethi was young, his father would always pick up the phone when he or his siblings called him at work and talk to them for as long as necessary, he says. This is “the perfect example of being time rich,” he says. “Knowing that for the things that are important to you, you can spend a lavish amount of time on them.”
“Everyone can work towards being time rich,” Sethi says — not just those with flexible schedules or who can afford to outsource tasks like shopping and cleaning. Here’s how.
Determine your ‘non-negotiable activities’
The first step in becoming time rich is to create a “time freedom map” that outlines the “non-negotiable activities” you want to prioritize daily, weekly, monthly and seasonally, Sethi says. From there, block time off in your calendar for each thing.
They don’t have to be big, costly activities, either. A daily item could be as simple as a cup of coffee or tea in the morning without screens, Sethi suggests. The point is to make a commitment to yourself to keep these activities free of other distractions and obligations.
“Nobody trips and falls into these things by accident. You actually have to make them happen,” he says.
Getting in the habit of protecting your small daily practice, then working your way up to seasonal commitments, is a good way to start, Sethi says.
‘Money does play a role, but it’s not the only role’
It may be easier for someone with enough disposable income to pay for child care, housekeeping or a grocery delivery service to feel time rich, but that doesn’t mean it’s impossible for people with tighter budgets, Sethi says.
“Money does play a role, but it’s not the only role,” he says. “If you cannot afford, from a time or money perspective, to take a quarterly weekend trip, that’s OK. Many people cannot. But can you afford to set aside 15 minutes in the morning to get one beautiful moment that you appreciate?”
Those small moments of joy can make a big difference, he says. Even something as small as an afternoon snack can become something you look forward to every day and give you more control over your time.
When possible, though, Sethi says not to shy away from buying back your time by paying for services or conveniences. That could be as simple as spending an extra $50 a week on pre-chopped vegetables or for a babysitter so you can have a date night with your partner, he says.
Research has shown that spending money on time-saving services or objects is linked to greater life satisfaction rates.
“If you pay someone to do something time-consuming that you don’t like to do … you can get a happiness boost by spending those extra hours with others,” happiness expert and Harvard professor Arthur C. Brooks wrote for The Atlantic in 2021.
Americans are often willing to pay more for services that save them time. Among adults who say they use services like online shopping with home delivery, restaurant or grocery delivery and rideshare apps, 65% say they’re willing to spend extra money to save time, a 2023 LendingTree survey found.
Those earning six figures were most likely to use delivery services to save time, the survey found, but 44% of respondents also admitted to spending more than they could afford on those services.
Want to get ahead at work with AI? Sign up for CNBC’s new online course, Beyond the Basics: How to Use AI to Supercharge Your Work. Learn advanced AI skills like building custom GPTs and using AI agents to boost your productivity today. Use coupon code EARLYBIRD for 25% off. Offer valid from Jan. 5 to Jan. 19, 2026. Terms apply.
