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How people think about and use their time has critical implications for happiness and well‐being. Extant research on time in the consumer behavior literature reveals a predominantly dichotomized perspective of time between the present and future. Drawing on research on emotions, social relationships, and financial decision‐making, we discuss how removing categorical dichotomies might lead to beneficial outcomes. From this, we propose a conceptualization of time that assumes a less stark contrast between the present and the future, allowing these two time frames to more flexibly coexist in people's minds and experiences. Finally, we discuss one way people might adopt this perspective to increase happiness—by taking an elevated or “bird's‐eye” perspective of time where the future and present, as well as the past, become equally visible, and where events from different time points are treated and experienced as part of one's life and being overall.