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"Time is Money" only works in one direction. That is, time can be transformed into money. You can use your time to work, and earn money. Or you can put money in your savings account, and given enough time, the interests will accumulate to any sum.

The opposite however, is not true. Money can not be transformed in time. If it could, old billionaires would spend it to buy extra years for their lives.

So time and money are not completely equivalent, which means that you cannot just substitute the word 'time' with 'money' in any sentence.

The opposite however, is not true. Money can not be transformed in time. If it could, old billionaires would spend it to buy extra years for their lives.

I don't think this statement is true. Anyone who saves up money & spends it on a vacation has bought time - free time, at least, and presumably it's time being spent on something they'd rather be doing than working.

Also, when we spend money on any labor-saving device we're exchanging money for time. IOW, we spent time to make money, which we used to buy a labor-saving device which saves us time. So we spent time to make time, with a conversion into money and a second conversion out of money in the middle. In that case I think it does work both ways.