Time is life. Every aspect of life depends upon time. As human life progress with time, energy and physical strength seem to diminish. It is all-important to perform various tasks during a specific time period. Any act performed after time is of no use. It is also important to live in the present moment. This research paper is an attempt to learn the essentials of time management and also its importance. For this purpose, literature survey was done. It was found that the most important tool for time management is to prioritize the task.