Good question! I'm not an expert, but this is what I think the answer is...
I think the second sentence is the correct one:
When I can afford time off work and study....
The reason for this is that uncountable nouns don't need an article (a/an/the). It's called a "zero article."
A. He picked up a stone.
B. The wall's made of stone.
C. This is the third time I told you that!
D. We don't have time to eat.
As you can see, some nouns have both countable and uncountable uses. But if you are using it as an uncountable (as in example B and D) you don't need the article "the." (So B and D is an example of a zero article).
Your example sentence looks good. This is how I would write it:
When I can afford time off work and study, I'll make it a point to...
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