I can't think of an exactly parallel phrase to managing one's time. Something very similar is the concept of striking a work-life balance, which is the idea of spending enough time on non-work-related things in your life, since work tends to take over some people's lives. But the concept of managing one's time has more to do with not "wasting" time, or doing useful things all the time.
Another way to rephrase "manage one's time" is to "exercise time management."