In my line of work, I bill by the hour -- and I bill in quarter-hour segments. To do that accurately, I keep a precise running track of time spent on every project. Let's say: 7:55 - 8:35.
Oftentimes, after making a note of the start time, I get distracted. So, I write 7:55, but then I send an email to a friend or check Facebook. And when I actually get to work on the project, I glance at the clock again and see that it is now 8:05.
And I can't bill a client for those 10 minutes.
For me, time really is money. But the principle applies to all of us. Do you know how much time you redirect or squander during the day? Track it! For one day, pretend you're like me. (Ooooh. I just felt a disturbance in the Force. A huge collective shudder.)
Track your time. Then, consider if there's a more productive, or more creative, way to spend it.
FYI, if I were billing you for this post, you'd be paying for 30 minutes. (Writing it took about 10 minutes. It took another 15 minutes to find the silly Homer gif. This is what I'm talking about ...)