You can convert time into many things : feelings, social life, hobbies, personnal growth activities, thinking and ofc money (and more other things)... Time can be all of these. It depends what you're the most attracted to, or need to. If you like dreaming or solving problems you'll take your time to evaluate the issue and find a solution by thinking. If you love cooking you'll probably take some part of your free-time to cook. If you need money you'll probably focus on your work to get a better salary (very simplified version).
In my opinion, time is way more precious than money. Money doesn't make everything. For me, it will never replace human relationships and joy of life. We need time to also appreciate those life's components. So money may be a part of what your time is but it's not the whole part of your time. I would say that time have a precious value like money, but those values can't be compared between them. For some people money rules the world. Other ones said that money doesn't make happiness. However, that's another topic haha