Correct use of time occurs when you are using it in accordance with God's Will for you: whether serving the family, at work or what is usually called 'ministry'.
Redeeming the time is when you reject what Satan desires you to do with it and do what God desire you to do with it. You are taking time Satan would normally use in his world system and using it for God's purposes.
You are either using the time correctly, redeeming it or giving it to Satan t o use. There is no in between