Time is more precious than gold — you should cherish your youth.
Tips
history
The first half traces to the Tang-era 《增广贤文》 (Zēngguǎng Xiánwén, 'Expanded Words of Wisdom'), a collection used for moral education in late imperial schools. The expanded second half adds the philosophical kicker: gold is replaceable, time is not.
usage
Often shortened to just 一寸光阴一寸金 (yī cùn guāngyīn yī cùn jīn). Used by parents and teachers to urge students not to waste time.