Balanced time perspective (BTP) describes a tendency to focus on past, present and future time horizons that fosters well-being and positive life outcomes. Deviation from the balanced time perspective is a widespread method to measure the balance, but it makes assumptions regarding levels of time perspectives constituting BTP. In the present research we aimed to test the assumptions regarding levels of time perspectives constituting BTP by testing associations between time perspectives and domains of well-being in four independent samples (N = 1150). The results showed that higher well-being was fostered by greater past positive (PP) and future (F) and lower past negative (PN) and present fatalistic (PF) time perspectives in a linear manner. As for the present hedonistic (PH) perspective, the results were inconsistent indicating that this time orientation can be unrelated to well-being or related in an inverse U-shape manner. In the light of our results the optimal values for the deviation from the balanced time perspective, as measured with the Zimbardo Time Perspective Inventory, should be revisited and changed into PN 1, PP 5, PF 1, PH 3.4, F 5, with careful consideration whether or not to incorporate PH into the formula for the deviation from the balanced time perspective at all. We also showed that the deviation from the balanced time perspective using the above values better predicts well-being than the one using previously assumed levels.
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